San Bernardino RV Park

San Bernardino RV Park is a 109-space long-term RV park located in its namesake city of San Bernardino, California. This property was brought to us by a broker who has done several deals with BoaVida and knew us as performers. The seller was motivated to close on the property this year and we were able to snag this gem without it going to the open market. Relationships are valuable!

The current owner is nearing retirement and has not invested the time to maximize the potential of this asset. The in-place rents at SBRV are significantly below market, and this represents an opportunity to generate strong returns by increasing rents to market. RV parks of similar quality and location are receiving monthly rents around $900 per month, while this park has an average space rent of only $591 per month. While the city of San Bernardino has rent control for mobile home parks, which keep them from capitalizing on the strong market demand for affordable housing, RV parks are not subject to this rent control.

In addition to the opportunity to quickly increase rental income, the park shows well and has little deferred maintenance. Our business plan is to quickly address deferred maintenance to the roads and to increase rents to market over the first five years. This is projected to effectively double NOI over the same period.

  • Date Acquired: 30 Dec, 2022

  • Acquisition Price: 8,250,000

  • Spaces: 109

  • City/State: San Bernardino, CA

Investment Package