Plaza Verde MH & RV Park

Investment Overview

Plaza Verde MH & RV Park represents a rare opportunity to acquire a fully repositioned, institutional-quality manufactured housing and RV community located in the infill core of Phoenix, just minutes from Downtown. The Property benefits from exceptional access to major employment hubs, transportation corridors, and the continued population growth driving housing demand throughout the Phoenix MSA. Originally constructed in 1965, the community consists of 141 total sites, including 89 RV sites and 52 mobile home sites. This diversified site mix provides multiple revenue streams and operational flexibility, catering to both long-term residents and short-term RV tenants. The Property is serviced by all city utilities, offering efficiency and reduced operational complexity. Plaza Verde’s RV component operates primarily as a long-term residency model, serving as attainable workforce housing within the Phoenix MSA rather than transient or nightly-use accommodations. The majority of RV tenants occupy sites on a monthly basis, resulting in a stable and predictable revenue stream that closely mirrors multifamily performance characteristics. This operating profile reduces turnover, limits operational volatility, and enhances forward visibility into cash flow. Demand for this product type has been clearly demonstrated through the Property’s recent lease-up performance. Following completion of infrastructure upgrades and delivery of newly activated RV sites, the community achieved stabilized occupancy (~80%) within approximately nine weeks. Since achieving stabilization, occupancy has continued to increase into the 90%+ range, further reinforcing the durability of demand and long-term viability of the RV tenancy model. Importantly, the Property’s tenancy profile has demonstrated resilience through seasonal fluctuations, including the summer months, which are traditionally softer for transient RV demand in the Phoenix market. Plaza Verde’s focus on long-term residents mitigates typical seasonal volatility, supporting consistent occupancy and income stability throughout the year. This combination of long-term residency, rapid lease-up, and seasonal durability positions Plaza Verde as a highly stable, income-generating asset with characteristics more closely aligned with workforce housing and multifamily investments than traditional transient RV parks. Current ownership has invested significant capital totaling millions of dollars into the infill of vacant sites, modernization of infrastructure, and enhancement of overall curb appeal. These improvements have substantially reduced deferred maintenance and elevated the Property to a stabilized, high-quality asset. The community is further complemented by 24 brand-new park-owned homes, with an estimated market value exceeding $2,100,000. These units provide immediate, stable in-place income and limit the need for additional near-term capital investment. Plaza Verde’s prime infill location, combined with its extensive capital improvements and strong market fundamentals, positions the Property as a true turnkey investment. Investors are afforded the opportunity to acquire a stabilized asset with durable cash flow, while also benefiting from continued rental growth and long-term appreciation within one of the nation’s most dynamic and supply-constrained housing markets.