Arizona Maverik RV Park

Property Description:

Arizona Maverik is a turnkey 41 site RV park located in a County island in Mesa, Az (metro Phoenix) that caters mostly to an extended stay RV clientele. It is on a major street ( Crismon Rd) located 1.3 miles north of the 60 Freeway exit and 1.3 miles East of the 202 Freeway. The park was built in 1997 and has all newer infrastructure vs most other parks in Mesa/Apache Junction. Individual SRP electric meters are located on each site which make it a candidate for Park Model installations with clarification of the county use permit. Entrance to the park was formerly shared with the community north of it however recent upgrades include fencing built to differentiate the two communities. Seller profile is a large private owner who has mostly MH communities and wants to divest of RV product over the next 2-3 years. The deal currently sites at blended rents of $653 with a rent increase of $50 scheduled to go in place on February 1 bringing average rents to $703 plus electric. Broker believes mandating that longterm tenants bring electric into their own names will reduce 40% drag in electric reimbursement. All meters direct-billed however handled and billed by owner. No owner of this community has attempted park model sales and there is unique phrasing of the use permit which will require clarification before installing. Most of the occupancy is permanent leading to stable cash flows, not a seasonal property! Recent upgrades in addition to the dividing wall were updated laundry and restrooms in 2020, streets repaved in 2020, and new signage recently added. Phoenix MSA properties are very difficult to acquire and this seller is motivated to move this one due to a partnership dissolution. This community has been sold by the broker three times and has always historically had outstanding cash flows and stable revenues. Please submit offers ASAP.