815 Sky RdIndian Springs, NV 89018

Property Details for 815 Sky Rd

Year built

1960

Lot size

12.36 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 114-unit mobile home park in Indian Springs, NV, presents a compelling value-add investment opportunity. Currently operating at 26% occupancy, the property offers significant upside potential. With a current NOI of $121,000 and a pro-forma NOI of $336,000, the park boasts a 4.03% cap rate and a pro-forma cap rate of 11.20%. The asking price is $3,000,000, translating to approximately $26,315 per pad. Built in 1960, the park sits on 12.36 acres and includes full city utilities. Its strategic location near Creech Air Force Base and new residential developments in Indian Springs ensures a steady stream of potential tenants. The property consists of two contiguous parks on separate parcels, offering flexibility and expansion possibilities. Seller financing is available with a 30% down payment or more at 7.5% interest over a 30-year term with a 10-year balloon payment. The seller desires a close of escrow by December 31, 2024, and will respond to highest and best offers received by November 12, 2024. This property is ideally suited for investors seeking substantial returns in a rapidly developing area, approximately 30 minutes from Las Vegas. The property's APN is 059-08-701-055, 056, 057, 058. Addresses include 815 Sky Rd and 306 Fisher Ln, Indian Springs, NV 89018.

Location Insight

City

Indian Springs

County

Clark

State

Nevada

Latitude

36.5713

Longitude

-115.675

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