1505 N Lake Rd, Lakeside , OR 97449
Osprey Point RV Resort
Osprey Point RV Resort and expansion opportunity is located 1505 N Lake Road, Lakeside, Oregon. Constructed in 1995, the property is situated on four parcels, totaling 58.15 acres, and is comprised of 131 market-rate RV spaces, 16 tent spaces, five cabins/park models, one 3-bd/2-bath mobile home, 50 storage units, a pub-style restaurant, boat dock with moorage, and an area of land for development that has been entitled for 60 additional RV spaces (with prepaid system development charges). The property consists of four parcels totaling approximately 58.15 acres of land. The park is a pride-of-ownership, high-quality, and well-maintained resort. The park operates year round and has a blend of both long-term and short-term tenants. The asset has benefited from strong demand with year-round occupancy from long-term and transient tenants. RV spaces and cabins have full utility hook-ups. The tenants are serviced by public water, as well as a hybrid public and private sewer system. There is an on-site restaurant with liquor and lottery licenses, five-video poker machines, and full-service food options. Additionally, there is an arcade, a meeting/gathering hall, and a gift/convenience shop that sells items, snacks, beverages, ice, and more. The restaurant attracts guests including people from the the county, as there are limited food and entertainment options in the immediate area. Tenants are attracted to the asset’s premier location along Tenmile Lake with desirable recreational features including boating, fishing, forested tree area, and more. The property is along Highway 101, the main thoroughfare along the West Coast. The site is complemented by major area market driver(s), The Mill Casino, Oregon Dunes National Recreational Area, Bandon Dunes Golf and Resort, and much more. A recent city ordinance has been added allowing ATV riders to ride straight out of the RV Resort to join the ATV route directly to Spinreel Park with access to the Oregon Dunes. There is an ideal mix of long-term and transient RV spaces, high year-round occupancy, attractive amenities including restaurant, storage, cabins, boat dock, picturesque setting and more. Additionally, the ability to expand the park by 60 spaces that are already entitled allows an owner to capture the growing demand of housing, and increased traveling via RVs. These features along with heavy cash flow present an astute investor the opportunity to acquire a quality RV park and resort, and receive dependable income on day one. Because of the strong location combined with complimentary services and features of the park, an investor has good reason to believe that rates will continue and be increased in the future.
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