Roosevelt Park Resort

Property Description:

ROOSEVELT RESORT PARK is a destination resort adjacent to beautiful Lake Roosevelt in central Arizona. This year-around motel and transient lodging operation has 26 rental units. These consist of 17 totally remodeled motel units, 6 beautiful ‘casita’ style rental cabins, 2 kitchenette (suites) and 3 remodeled 3-bed, 2-bath SFR home. Also includes 85 usable MH sites of which currently 36 have park model/mobile home tenancy and the rest long-term RV. Rents have been increased on the MH/RV park for 2023 at an extra $25 per month however competing parks in Globe and Tonto Basin are achieving $400 per month which indicates future upside. .The bar and restaurant is leased to a 3rd party operator removing operational expense and headaches for ownership, rent is $3000 per month with increases every five years. Also included in the offering are two (2) commercially rated wells with a water company serving the resort guests and also provides profitable water sales and delivery to other 150 customers in the area. This business is currently managed by a 3rd party company along with the hotel. These consistently high flowing freshwater wells are becoming more valuable with droughts throughout the southwest. There is also a (+ƒ- 1 acre) lot for boat storage which is about 50% full.

Unit Breakdown

• 85 Usable MH Sites – 86 Licensed
  (36 MH, 46 RV Current for
  95% Occupancy)
• 17 Hotel Rooms
• 6 Cabins
• 2 Casitas
• 1 Park-Owned Doublewide

Amenities

• Bar & Restaurant
• Clubhouse
• Fishing pond
• Boat storage
• Park
• Game room
• Well & Septic
• 2-Star Quality
• 11.3% Cap Rate
• Mostly 55+ tenancy
• Bank Financing Available
• Laundry