115 5Th AveSun Valley, NV 89433

Property Details for 115 5Th Ave

Year built

1971

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.01 AC

Property size (Sq ft)

1,234 SF

Zone code

GC

Property type

Retail space

APN

085-650-29

APU

8565029

Description

This exceptional investment opportunity presents the Trail West Mobile Home Park, a 16-unit stabilized multifamily property situated on a 2.006-acre lot in Sun Valley, Nevada. Currently boasting 100% occupancy with all 16 spaces rented at $625 per month, generating a Net Operating Income (NOI) of $73,903, and a 4.62% cap rate. Pro-forma projections indicate a potential NOI of $91,892 and a 5.74% cap rate. The property features a single-story building constructed in 1871, currently used for commercial purposes (non-conforming use) and could be removed to increase the number of mobile home spaces. All mobile homes are tenant-owned, minimizing maintenance responsibilities for the owner. The property is zoned GC. The asking price is $1,600,000, representing a price per unit of $100,000. The property's location at 115 W 5th Ave, Sun Valley, NV 89433 (APN: 085-650-29) offers a central location within the community. Note that the Sun Valley General Improvement District will impose water and sewer impact fees upon sale

Location Insight

City

Sun Valley

County

Washoe

State

Nevada

Latitude

39.5933

Longitude

-119.781

CBSA code

39900

CBSA name

RENO-SPARKS, NV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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