Pine Cove MH & RV Park

Property Description:

Pine Cove MH & RV Park is located on Lewiston Lake at the base of the Trinity Alps in Northern California. The remote location and pristine beauty add to the serenity of the setting. There is fishing just across the street at Pine Cove Marina and the nearby town of Weaverville has shops, dining, and art galleries. The 78 sites park is mostly permanent mobile homes, park models, and RV extended stay with a number of vacation homes. The park consists of 9 doublewide homes, 2 singlewide homes, 2 5th wheels on doublewide sites, 17 park models, 18 travel trailers with add on rooms, 19 travel trailers, and 1 motorhome. There are 10 available sites. The site rents are $380-$575 plus submetered electric and propane. No rent control in Trinity County. The property has a 1930 old house used for office and storage space. Amenities include a 1,374 sf wood frame clubhouse with kitchen and one room with a separate toilet but no shower, fish cleaning station, 1,200 sf laundry and bathrooms and showers building, bbq/picnic area and storage sheds and boat storage. The asphalt streets were resurfaced in 2020. Most of the sewer lines were replaced. A new well was completed in 2022. The septic system is on the adjacent marina property leased by the Seller from the forest service. Seller will consider selling the leased marina property. Lewiston Lake is a Blue Ribbon fly fishing lake. Please see www.trinityflyshop.com and www.myoutdoorbuddy.com for the amazing fishing!

LOAN INFORMATION: 

• Buyer to obtain new financing through escrow.
• Broker anticipates new 70% loan to value financing $1,799,000 at 6% interest.
• Or Seller will finance $1,370,000 at 5% interest for 5-10 years

NET INCOME: $217,799

Highlights

• 78 Sites on Lewiston Lake in the Trinity Alps
• 11 MH, 17 Park Models, & 40 Permanent RV
• Clubhouse, Across Street from Marina, New Well
• Very Reasonable Rents, No Rent Control
• $2,570,000, 8.5% Cap Rate, Seller Financing