BONANZA TERRACERV COMMUNITY 4800 STOLTZ RD | RENO, NV 89506
For a video tour of Bonanza Terrace, please visit: http://youtu.be/VeuaSzdigeQ
R E O
BONANZA TERRACE
79 SITE RV COMMUNITYCOMMUNITY PRICE: $750,000TERMS: ALL CASH OR THIRD
PARTY FINANCING
BONANZA TERRACE
79 SITE RV COMMUNITYCOMMUNITY PRICE: $750,000TERMS: ALL CASH OR THIRD
PARTY FINANCING
SITE INFORMATION
ADDRESS 4800 Stoltz RoadReno, NV 89506
COUNTY Washoe
TAX ACCOUNT ID 082-534-07
SITES 79
COMMUNITY TYPE All Age RV
COMBINED LAND SIZE 4.8 acres
DENSITY 16.45 sites/acre
PHYSICAL OCCUPANCY 62.0% (49 sites as of Jul ‘14)
MKT MONTHLY RATE $400
MKT DAILY RATE $34
AVG IN PLACE MONTHLY RATE $377 (as of Jul ‘14)
ROADS Asphalt
ELECTRIC 71 sites: 50 amp; 8 sites: 30 amp
FLOODPLAIN No
ZONING MUNV, Mixed Use N. Virginia Transit Oriented Corridor
PROPERTY WEBSITE www.bonanzaterracervpark.com
UTILITIES
WATER TMWA (Paid by Community)
SEWER City of Reno (Paid by Community)
ELECTRICITY NV Energy (Individually metered and billed to Tenant)
GAS Southwest Gas (Direct billed to Tenant)
TELEPHONE AT&T (Direct billed to Tenant)
BONANZA TERRACE Price : $750,000 Terms: All Cash or Third Party Financing
• Bonanza Terrace has an outstanding location just off of NV-365 and is minutes from downtown Reno, famous for its many casinos and resorts.
• The bus stop just outside the park makes traveling to nearby attractions easy and convenient; several casinos, the University of Nevada Reno, the National Automobile Museum and the National Bowling Stadium can be reached within 25 minutes by bus.
• Lake Tahoe, the largest alpine lake in North America, sits just an hour away and is renowned for its picturesque ski slopes in the winter and water activities in the summer.
• Less than 20 minutes from Bonanza Terrace is the Legends of Sparks Marina, a premier $1.2 billion retail destination with more than 1 million sf of stores.
• Reno-Tahoe area home to several summer festivals that draw huge crowds including: Octane Fest, Lake Tahoe Shakespeare Festival, Burning Man, The Great Reno Balloon Race, among others.
• The Reno-Sparks MSA has a population of over 425,000.• Nevada is one of the best states to conduct business - there is no
corporate or individual income tax.• Reno economic growth: Apple recently built a data center, Tesla is
considering the area for a new $4 to $5 billion battery factory, and Amazon is moving a fulfillment center to North Reno, adding 600 to 900 full time jobs and up to 4,000 temporary jobs during the holiday season.
• The Reno-Sparks MSA’s seasonally adjusted unemployment rate of 6.1 percent is the lowest it has been since 2008 and is below the state and national average.
INVESTMENT HIGHLIGHTS
AREA HIGHLIGHTS
• Excellent management turnaround opportunity. • There is a strong base of long-term monthly residents and the potential
to improve daily operations through a targeted marketing program.• The community features a management office/cabana, an on-site
laundry facility, restroom and showers, and fenced storage.• Sites can accommodate RVs up to 40’ in length and offer tenants
electrical, gas, water, and sewer hook ups along with access to cable, telephone, and wireless internet throughout the park.
• Each site is individually metered for electric.• Experienced management couple interested in staying with the park
post closing.• Quality electric lines with newer meters and reportedly the office roof is
only about six years old.• Bonanza Terrace has certifications or memberships with Good Sam,
Woodall, AAA approved, Trailer Life, RV.net, etc.
BONANZA TERRACE
79 SITE RV COMMUNITYCOMMUNITY PRICE: $750,000TERMS: ALL CASH OR THIRD
PARTY FINANCING
1
2 Gross Scheduled RentLess: (Gain)/Loss-to-LeaseGross Potential Income
Less: VacancyLess: Bad DebtLess: ConcessionsTotal Rental Income
3 Plus: Utility Income3 Plus: Other Income
Total Other IncomeEffective Gross Income
EXPENSESRepairs & MaintenancePayrollAdministrativeMarketingProfessional Fees
4 Utilities Electricity & Gas Water Sewer Cable TrashTotal Variable Expenses
5 TaxesInsuranceManagement FeeTotal Operating Expenses
6 Plus: Capital ReservesTotal Expenses
NET OPERATING INCOME
Proforma
Financial Analysis
2011
0.00%Assumptions
$200,951
June'14 T122012 2013
0 0$209,941$215,419
00.00% 0.00%
0.00%
INCOME
$212,204
00
$212,204
0
0.00%
$212,204100.00%
0.00%0.00%
43,8924,359
55655
48,251
0$2,070
$2,070 $163,506
$96,950 $67,360$53,674
611
$260,456
10,418
149
772 61,0060
0$2,370
14,6284.00% 5.75%$2,370$2,407
0
14,628$190,133
00
$190,133$2,407
6.00%$2,435 $192,366$187,231
$187,2310
$192,366$2,4350
5,46869 736.52%
Actual Expper site$1375532293117
0
00 0
4,0625149
$1,740
0
0$167,135
00
0
$158,631 $2,160162
43,704
0
9,0400
61,0607730
0
0$2,008
11,768 0
0
7,0340
012,812
09,804
0
$137,452
27521,766
7,71568
3,868
0$163,506
00
$159$248Actual Exp
$19,560per site
2,447 735,37321,738
631
44,879
981,370
18,08749,84143,157
50
$204per site
$16,143Actual Exp
10,838
291
561
707
$254,591
30,82399.89% $209,712 99.70%
14,056
0.11%0
$209,941
00.00%
229
$215,419
0
$215,41928,388
0
00
28,388$243,807
0.00%0.00%
0.00%
100.00%359
0
per site
546
0
359
0.00%0.00%
390178
276
98
3,93589
568
5,746
07,715
0
14,644
5,787
0425
7,715
31,027 33,5903,1287,241
$244,658
22,978
15,954
Actual Exp
$170,625
980
39350
185
$2,116124
14,152179
$52,292
4092
114
$200,339
0$200,951
00
612
29,12915,190
3,921
44,319
$12,55455,814
192369
0.30%
0.00%
0.00%1.00%0.00%
0.00%
37.94%
198
61.06%380
per site$200
578
04384194
5751507550
191118
$1,932155
50$2,388
516.00%
$2,338
$356,9510
$356,951
135,4273,570
0
15,646
$217,95430,003
$263,603
Proforma Exp
$15,800
45,649
034,598
3,2227,458
45,42511,850
5,9253,950
$184,720
15,0839,311
$152,62212,253
4,02915,816
3,950$188,670
$74,932
1. 2011, 2012, 2013 and June’14 T12 numbers based on actual
historical numbers provided by the former borrower and current
management company.
2. Proforma GSR based on the July‘14 Rent Roll.
3. Utility and Other income grown 3% from the June’14 T12.
4. Adjusted Utilities grown 3% from the June’14 T12.
5. Proforma Taxes = 2014 Tax grown by 3%.
6. Capital reserve numbers do not reflect an actual expense.
UNDERWRITING ASSUMPTIONS
BONANZA TERRACE FINANCIAL ANALYSIS
BONANZA TERRACE
79 SITE RV COMMUNITYCOMMUNITY PRICE: $750,000TERMS: ALL CASH OR THIRD
PARTY FINANCING
TAHOE NATIONAL FOREST
PLUMAS NATIONAL FOREST
LAKE OROVILLE STATERECREATION AREA
ELDORADO NATIONAL FOREST
STANISLAUS NATIONAL FOREST
LAKETAHOE
NEVADA
CALIFORNIA
BONANZA TERRACE
16
26
84
70
113
45
70
70
70445
447
20
99
162
99
32
49
49
49
89
341
28
89
208
104
88
4
108
80
5
5
505
80
80
SACRAMENTO
RENO
CARSON CITYYUBA CITY
CHICO
JACKSON
TOPAZ
TAHOE CITY
CITRUS HEIGHTS
395
50
50
395
395
395
DEMOGRAPHIC INFORMATION 1 mile 3 mile 5 mile
2014 Population Estimate 5,205 58,790 183,019
2019 Population Projection 5,579 60,724 188,568
Population Growth 2010 - 2014 5.94% 1.85% 1.53%
Population Growth Estimate 2014 - 2019 7.19% 3.29% 3.03%
Population Growth 2000 - 2010 106.99% 21.31% 13.53%
Renter Occupied Percentage 39.77% 50.79% 53.18%
Owner Occupied Percentage 60.30% 49.21% 46.82%
2014 Est. Average Family Household Income $57,331 $51,191 $52,020
2014 Est. Median Owner-Occupied Housing Value $44,579 $40,395 $39,430
Source: 2014 Claritas, Inc.
BONANZA TERRACE MAP & DEMOGRAPHICS
BONANZA TERRACE
79 SITE RV COMMUNITYCOMMUNITY PRICE: $750,000TERMS: ALL CASH OR THIRD
PARTY FINANCING
LAKE TAHOE• Known for its clarity and panoramic mountain views, Lake Tahoe is the largest lake by volume in the United States after the
Great Lakes.• Home to many casinos, water activities and ski resorts, the area attracts over 2.5 million people a year.
CASINOS• Reno is home to over 15 casinos totaling 13,000 rooms and generating over half a billion dollars in revenue each year.• The recently renovated Grand Sierra, one of Reno’s largest casinos, boasts a 100,000 sf casino floor, 10 restaurants, a movie
theater and a nightclub.
THE OUTLETS AT SPARKS• Offering a year round upscale shopping experience, The Outlets at Sparks includes one million square feet of retail space and
over 100 stores.• The Galaxy IMAX Theatre, opened at the outlet center in 2014, features a 75 foot screen and is the only IMAX theatre in the
Reno-Sparks area.
THE UNIVERSITY OF NEVADA - RENO• 18,227 students attend the University of Nevada Reno, which offers degrees in over 140 major disciplines.• The University is Reno’s second largest employer with 4,250 employees.
BONANZA TERRACE LOCATION AERIAL
901 S MoPac ExpresswayBarton Oaks Plaza IISuite 275Austin, TX 78746
RELATIONSHIPS THAT DELIVER RESULTS.
www.arausa.com© ARA. All Rights Reserved
ARA NATIONAL MANUFACTURED HOUSING
Andrew [email protected] T 512-637-1219
Todd [email protected] T 303-260-4470
Brian [email protected] T 512-637-1221
Jon [email protected] T 303-260-4486
PRIMARY CONTACTS:
GRACY FARMS LN
GRACY FARMS LN
CARSON-RENO HWY
CARSON-RENO HWY
STOLTZ RD
STOLTZ RD
BONANZA TERRACE
This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is made as to the accuracy. Further, no warranties or representation shall be made by Apartment Realty Advisors (ARA) and/or its agents, representatives or affiliates regarding oral statements which have been made in the discussion of the above property. This presentation, prepared by ARA, was sent to the recipient under the assumption that s/ he is a buying principal. Any potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined by an attorney of his/her selection, or be furnished a policy of title insurance. Do not contact the Property.
Information for Bonanza Terrace is available on our website at: www.arausa.com/listinglab/BonanzaTerrace
For a video tour of Bonanza Terrace, please visit: http://youtu.be/VeuaSzdigeQ
