Marcus & Millichap recently facilitated the sale of Melrose Trailer Park and Olive Avenue RV Resort in Vista for a total purchase price of $20.35 million.
According to Dustin B. Wilmer, first VP investments at Marcus & Millichap’s San Diego Del Mar office, this is the first time these properties have been sold since they were originally owned by our clients several generations ago. The adjacent parks were highly sought after due to their prime location and strong occupancy rates (98% at the time of sale). Through our company’s platform and team process, we received multiple offers from interested buyers looking to own these high-quality parks with a combined 150 sites near full occupancy in San Diego.
Wilmer worked alongside Douglas Danny, senior managing director investments at Marcus & Millichap, representing the sellers Melrose Trailer Park Inc., while also securing Pacific Current Partners as the buyer. “The new owner has extensive experience operating recreational vehicle and manufactured housing communities throughout California,” added Wilmer.
This transaction marks an exciting change for both properties as they transition into new ownership for the very first time.
