Chino Drive RV Living
Infill Opportunity, Seller Financing Available , City Water
Marketing description
Please reach out directly to Matt McMillian for questions about this property or difficulty accessing the financials by phone at 617.470.9282 or email [email protected]
The MHP Value Team is pleased to present Chino Drive RV Living is a 27-site infill opportunity located in Golden Valley, Arizona. Offered at $550,000 ($20,370 per site), the property is priced below replacement cost, providing a compelling entry point for investors seeking value-add potential.
The community currently has 5 occupied lots, each paying $450 per month in lot rent plus electric (submetered and billed back to tenants). The remaining 22 vacant lots present a significant infill opportunity to increase occupancy and drive revenue. Under the current Ownership, all 27 former park-owned homes have been removed, positioning the property for a clean slate redevelopment approach. However, due to the seller pursuing ventures abroad, they have elected
not to complete the lease-up.
The property is serviced by city water, directly billed to tenants, 2 septic tanks pumped semi-annually, 1 dumpster for trash included in rents, and submetered electric billed back to tenants.
While the seller prefers cash offers, they are open to considering creative structures. Additionally, there is an assumable loan in place with an approximate principal balance of $150,000. The loan is structured as interest-only payments, with a balloon currently estimated to mature at the end of 2028.
Investment highlights
- Below Replacement Cost: Offered at $20,370 per site, providing a low basis compared to new development costs
- IRR PROJECTIONS - Assuming 6 homes infilled per year, ~6% rent increases each year, and aggressively assuming $15,000 loss per infill, achieving ~26%+ projected IRR years 4-6.
- Flexible Terms + Assumable Debt - Seller open to creative structures; $150K loan that is assumable
- Municipal Water Advantage: Served by city water, offering reliable utility access and eliminating the operational risk and maintenance costs associated with private well systems
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
