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21184227
21184228

57662 WA-155, Electric City, WA 99123

JB
WA 98291, ID 8671058
Marcus & Millichap - Seattle
Listed by Marcus & Millichap - Seattle
$6,100,000
513 days on market
Updated 51 days ago

Sunbanks Lake Resort

Details
Property Type Multifamily, Hospitality
Sub Type RV Park, Hotel
Units 235
Cap Rate 9.48%
NOI $578,001
Pro-Forma Cap Rate 12.58%
Pro-Forma NOI $767,285
Broker Co-Op Yes
Class C
Year Built 2000
Acreage 179.000
Parking Spaces per unit
Investment Type Stabilized
Ground Lease Yes

Multifamily | 235 Units | $25,957/unit

Marketing description

Marcus & Millichap is pleased to exclusively offer for sale Sunbanks Lake Resort. Located in Electric City, Grant County Washington. The property is situated on leased land along the shores of Banks Lake, near Grand Coulee. Originally constructed in 2000 the resort encompasses an impressive 179 acres along the lake, with a long term land lease with the Department of Natural Resources. Sunbanks Lake Resort is the most unique lake resort in the Pacific Northwest. It has miles of natural scenic beauty and is ideal for camping, watersports, fishing, or any type of outdoor activity.

Sunbanks Lake Resort offers guests both full and partial hookup RV sites, well manicured tent sites, 1, 2, and 5 bedroom villas, cabins, and charming beachfront cottages. It is the perfect spot for the individual camper out doing some exploring, family vacations, or even the long-term guest. Guests can expect a safe, clean, fun and leisurely stay, with a variety of amenities that include a marina with boat rentals, a sandy beach for relaxing and swimming, as well as a general store for all your essentials. Other amenities at the park include private bathrooms, a clubhouse, laundry facilities, WIFI, playground area, cantina, and a mini golf course.

Current ownership of the community have spent a considerable amount of time and capital over the course of the past two years improving the quality of the park, making it one of the most desirable RV or camping spots in the area. Located off the 1-90 corridor approximately 3.5 hours from Seattle the resort gets close to 300 days of sunshine a year and is one of Americas most adventure filled areas attracting people from across the country and Canada all year long. This allows an investor the opportunity to maximize their income potential in this pristine Resort all year long with only a few slower months throughout the year. This would be an ideal investment for an experienced RV/outdoor hospitality owner, or any owner with experience in the reservation and entertainment industries.

Investment highlights

Waterfront

Multiple Streams of Income

RV/Tent Sites

Cabins

1, 2, and 5 Bedroom Villas

Music Festivals

Store/Restaurant

Marina

Listing Contacts

JB
WA 98291, ID 8671058
Marcus & Millichap - Seattle
Listed by Marcus & Millichap - Seattle

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$578,001.00
$48,166.75/mo

Valuation Metrics

0
DSCR
9.48%
Cap Rate
9.48%
ROI

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Additional Information

Name
Joel Deis
License
WA 25469
Title
Broker of Record
Name
Jonathan Bench
License
98291
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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