25433 South Avenue,Corning, CA 96021
Corning, CA 96021
Description
Woodson Bridge RV Park is a 125-site community, located in Corning, Tehama County, CA and offered at $4,995,000. The Property consists of 110 long-term RV/MH sites, 14 transient RV sites, a 2-bed 2-bath site-built residence with 2-car garage, a convenience store, clubhouse, maintenance garage, and common area facilities including bathrooms, showers, and laundry. The community is income producing with pricing reflecting a 8.87% current cap rate. There is light value-add upside through convenience store income optimization as well as gradual rent and occupancy growth. 98 of the 110 long-term RV/MH sites are occupied at an average site rent of $612 per month, with all occupied homes owned by their residents. The 14 transient RV/MH sites generate supplemental income. The Property is HCD permitted for 134 total RV/MH sites (31 MH, 96 RV w/Drain, 7 RV w/o Drain), with 10 sites currently inactive. Additional income is generated from service fees for community facilities, maintenance, guest access, storage, and other ancillary charges. Income from the on-site convenience store is excluded from the financials, representing financial upside for a new owner. The store inventory and other personal property are excluded from the offering price and subject to negotiation. PG&E electricity is submetered and billed back to residents, residents obtain their own propane, and private well water, septic, and trash service are included in the rent. The Property is currently managed by the owner, who resides on-site in an RV during the week with support from four staff members responsible for the convenience store, check-ins/reception, maintenance, and other day-to-day operations. The Current Budget assumes a transition to third party off-site management combined with a new on-site manager compensated at $60,000 per year plus free occupancy of the site-built residence. Woodson Bridge RV Park is strategically positioned to capture both long-term housing demand and seasonal recreational tourism along the Sacramento River. The Property enjoys over 1,000 feet of river frontage, providing scenic views and a natural amenity base. Corning sits at the heart of one of California's primary olive and orchard agriculture regions, with steady workforce housing demand from the surrounding agricultural and food processing sectors. Please do not visit, drive through, call, or disturb the property or its residents without prior approval from the listing broker.
Details
| MLS # | OC26117144 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1953 |
| Days On Site | 92 |
| Listing Provided By | Avine Real Estate | Tim Ryan |
Features
| SQ Feet | 1,000 |
|---|---|
| Garage | 2 |
| Story(s) | 1 |
| Units | 125 |
| Building(s) | 1 |
| Acreage | 8.05 |
| Water Front | Yes |
Exterior
| Security Features | Resident Manager |
|---|---|
| Lot Features | Sixteen To Twenty Units Acre |
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Utilities | Electricity Connected, Propane |
|---|---|
| Sewer | Shared Septic |
Location
| Community Features | Fishing, Park |
|---|
Taxes
| Property | 20469 |
|---|
Area Information
| State | CA |
|---|---|
| County | Tehama |
| City | Corning |
| Zip Code | 96021 |
| Area | PL01 Tehama County |
| Listing VS Median (in 96021) | |
Price: $4,995,000 low | high Med: $479,000 sqft: 1,000 low | high Med: 3,000 $ / sqft: $4,995 low | high Med: $160 On site: 92 low | high Med: 509 | |
Market Activity 96021
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Learn More About This Property
| State | CA |
|---|---|
| County | Tehama |
| City | Corning |
| Zip Code | 96021 |
| Area | PL01 Tehama County |
| Listing VS Median (in 96021) | |
Price: $4,995,000 low | high Med: $479,000 sqft: 1,000 low | high Med: 3,000 $ / sqft: $4,995 low | high Med: $160 On site: 92 low | high Med: 509 | |