1327 N Ocean Drive, Port Lavaca, TX, 77979

Description

Income-producing RV park in Magnolia Beach, a bay community of Port Lavaca, TX. The RV park is just a short walk to the Magnolia Beach Public Park which has a public beach, fishing pier and boat ramp. The property offers stunning waterviews of Matagorda Bay and benefits from strong demand drivers including coastal workforce and recreational use. Situated on 0.50 acres, the property features 9 established RV pads with 6 currently occupied. Rents average $400/month per pad, with one pad leased at a reduced rate in exchange for on-site assistance. All tenants are on month-to-month agreements, providing flexibility for rent increases and operational improvements. FEMA Zone VE, on-site septic system serves existing pads, each unit has a Utility Hook up with 50 Amp and Water Spigot. Each pad is individually metered for electricity, with tenants reimbursing usage. Owner currently covers water, septic, trash, and WiFi. The property has a split-access configuration: Pads 6-9 have direct access from 24th Street, while Pads 1-5 are accessed via a recorded ingress/egress easement through the adjacent property (Bayshore Motel) connecting to Promenade. Easement is subject to terms and conditions of record. Offered at $299,000 (~$33K per pad). Estimated cap rate ~5.9% based on average NOI. Seller financing available: 20% down, 8% interest, 15-20 year amortization with 5-year balloon (terms subject to approval). Buyer to verify all information.