211 Mizpah CirTonopah, NV 89049
30-unit complex, high potential.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 117
Highlights
- 30-unit multifamily property in Tonopah, NV, offering significant value-add potential.
- Each unit features approximately 1100 square feet, two bedrooms, and 1.5 bathrooms. Amenities include fireplaces, living rooms, dining areas, breakfast bars, laundry areas, and patios.
- Currently 98% occupied, generating a $123,000 NOI, with a pro forma NOI of $186,000 projected after rent increases.
- Asking price: $2,100,000 ($70,000 per unit), representing a 5.85% cap rate. Current rent is $500/month, significantly below market.
- Needs roof repairs on some buildings and interior driveway paving. Zoned for potential future subdivision into individual townhomes (additional surveying and CC&R development required).
Property Details for 211 Mizpah Cir
- Property type
- Residential income homes, Apartment buildings
- Class
- C
- Buildings
- 5
- Units
- 30
Location Insight
- City
- Tonopah
- County
- Nye
- State
- Nevada
- Latitude
- 38.066619
- Longitude
- -117.2218918
Nearby Similar for Sale
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