For Further Information Contact: John Grant/Park Brokerage Inc. 11510 Caminito Garcia, San Diego, CA 92131 TURTLE ROCK RV RESORT OCEAN & CREEK FRONT 28788 Hunter Creek Loop, Gold Beach, OR $4,800,000 Sales Price, 10.4% Cash Flow 102 Full Hookup RV Sites, 18 Tent Sites, 7 Rental Park Model Cottages, 23.44 Acres 3,500 Sq. Feet Clubhouse Good Sam Top Waterfront RV Park (858) 586-9400 Fax (858) 430-3401 Email: john.grant11510@gmail.com Information contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
TURTLE ROCK RV RESORT 102 RV + 18 Tent Sites on the Beach with 7 Rental Park Models Cottages Price $4,800,000 Address/City 28788 Hunter Creek Loop, Gold Beach Historical Financials See Attached Excel Spread Sheet Capitalization Rate 8.2% Total Parcel Size 23.44 Acres County Curry Age Built 1995 Est. Spendable Return 10.4% No. Spaces 102 RV + 18 Tent Down Payment Submit State Oregon Loan Assume 1 st, Seller may carry 2 nd TD Total Return 12.2% Water City Sewer City Listing Salesman John Grant (858) 586-9400 Price Per Site: $43,333 PROPERTY DESCRIPTION AND RENTAL INFORMATION: 102 full hookup RV sites and 18 tent sites with 7 luxurious, rental park model cottages on sunny Gold Beach, Oregon on the spectacular Southern Oregon coast. The resort offers the finest ocean beach vacation rentals with full accommodations, large full hookup RV sites and RV spa sites with their very own hot tub, deck, and gas grill. The water and forested view Vacation cottage rentals and RV sites are all within walking distance of a picturesque seven mile long beach. The resort sits on the banks of Hunter Creek looking out of the Pacific Ocean, or are nestled against the tree and fern covered hillside. In addition to the incredible location with unrestricted beach access amenities include a 3,500 square feet clubhouse with kitchen and exercise room, 1,600 square feet office and store, separate bath house with laundry facilities, big rig sites, pull thru sites, RV storage, dump station, private beach on Hunter Creek, wifi, cable tv, RV hot tub sites, and some fire rings. City sewer and water and 50 amp electric. Rental rates are high season May 15 th -Sept 30 th daily $44-$57 and hot tub $73-$84, monthly $673-$1,242, and off season daily $37-$39 off season, hot tub $67-$73, and monthly $388-$429. Cottages are high season $152-$223, and off season $152-$211. Seller also manages 7 park model cottages for third party owners at a management fee of 40% plus there are 2 other resident park models for a total of 16 park model cottages at the resort. Upside includes increasing reasonable rental rate, adding more park model cottages, and developing more sites on the approximate 3.6 acres of vacant land. Please see the resort s excellent web page for more information and detailed rental rates at www.turtlerockresorts.com. LOAN INFORMATION: Existing, assumable $2,630,000 USDA 1 st trust deed at 5% fixed until May, 2026, then recast for two 10 years periods fixed at prime + 1.5%, fully amortized over 30 years, Monthly payment $14,118 with $3,200 to principal. Seller may carry a 2 nd trust deed at a rate and term to be negotiated. OWNER/OPERATOR NET INCOME $394,956 TOTAL ANNUAL PRIN. & INTEREST PAYMENT $169,416 EST. ANNUAL PRE TAX CASH FLOW (SPENDABLE) $225,540 PLUS PRINCIPAL REDUCTION YEAR 1 $38,400 TOTAL RETURN $263,940
TURTLE ROCK RESORT ACTUAL Year End 2013 ACTUAL Year End 2014 ACTUAL Year End 2015 Broker's Proforma for 2016 REVENUE Miscellaneous 2,791 25 182 182 Sales Tax Discounts 0 0 530 530 Commission Incme 0 0 86 86 Cottage Owner Income 131,929 140,672 127,807 127,807 Cottage Rental Income 122,781 144,125 129,612 129,612 TRR Management Fee 48,431 57,264 51,842 51,842 Other Cottage Income 97,324 114,707 99,873 99,873 Other Rental Income 16,678 5,145 8,905 8,905 RV Monthly 0 53,143 53,143 RV Site Rental 324,898 364,693 393,729 393,729 Store Sales 15,962 15,535 15,188 15,188 Uncategorized 0 19,859 0 0 7 park model cottages and one 4 br, 2 ba, 1,950 sf manufactured home owned and rented by Seller and included in purchase price by Seller and 8 park model cottages managed by Seller at a 40% fee. Rate increases planned for 2016 summer season. TOTAL REVENUE 760,794 862,025 880,897 880,897 EXPENSES Park Improvements 0 7,448 0 0 Office 3,428 10,738 9,524 9,524 Gifts 0 0 42 42 Outside Labor 0 200 6,158 6,158 Advertising & Promotion 28,958 0 29,780 29,780 Auto & Truck 1,428 2,092 0 0 Cash Discounts 19 470-15 -15 Contributions 0 0 97 97 Cottage Daily Rentals 120,591 142,607 97,843 97,843 Cottage Repairs 2,726 1,908 5,604 5,604 Credit Card and Bank Charges 16,052 16,990 23,181 23,181
TURTLE ROCK RESORT Dues and Subscriptions 0 1,184 1,000 1,000 Education 0 999 0 0 Insurance 15,862 13,136 7,632 7,632 Miscellaneous -141 808 2,463 2,463 Payroll 16,328 4,555 21,377 21,377 Postage and Delivery 609 503 599 599 Professional Fees 2,250 5,547 4,325 4,325 Propane 0 0-119 -119 Reconciliation Discrepancies 87 0 99 99 Repairs 23,062 47,998 51,181 51,181 Salary and Wages 35,276 54,082 86,439 86,439 Supplies 20,147 13,401 29,766 29,766 Personal Property 209 0 0 0 Licenses and Permits 1,163 1,235 991 991 Local & State Bed Tax 2,166 0 295 295 Payroll Taxes 13,554 13,396 12,663 12,663 Property Taxes 14,071 14,736 15,371 15,371 Utilities & Telephone 71,083 65,591 79,645 79,645 TOTAL EXPENSES 388,928 412,176 485,941 485,941 NET INCOME 371,866 449,849 394,956 394,956