937 N Main St - Apartments FOR SALE


Tonopah, NV 89049
$12,000,000 USD
775-225-9910
937 N Main St, Tonopah, NV for Sale
$12,000,000 USD
Apartments - FOR SALE
1/14
null | 7.13% Cap Rate

937 N Main St
Tonopah, NV 89049


HIGHLIGHTS

  • Located near existing and developing lithium mines, processing plants and other high paying jobs
  • Seller to complete renovations
  • Directly off Highway 395
  • High demand area for rental units
  • 48 one bed units, 56 two bed units, and 1 five bed unit
  • Halfway between Reno, NV and Las Vegas, NV

OVERVIEW

NAI Alliance is proud to present for sale the Mountain View Apartments in Tonopah, NV. This residential complex offers a comfortable and convenient living experience while being situated in a quiet, natural setting surrounded by serene mountain views. With a unit mix of 48 two-bedroom, 56 one-bedroom, and 1 five bed units, this complex has approximately 65 rentable units currently available, with some being offered as furnished for increased returns (Upwards of $1,780 a month in rents per unit). The seller has completed the renovations of every unit and is currently undergoing stabilization of the property. This is the perfect place to call home for those looking for a tranquil living environment. The apartments are equipped with a range of features that make daily life a breeze. Each unit is spacious and well-designed, offering ample living space and storage. The kitchens are equipped with modern appliances, making meal prep a breeze, and the units feature in-unit laundry facilities for added convenience. Tonopah's location is one of its major selling points, as it is strategically situated near several lithium/boron/gold & silver mines and processing plants. Lithium is a crucial mineral used in battery manufacturing for electric vehicles and renewable energy technologies, which are becoming increasingly popular due to state and federal mandates to sell all electric vehicles by 2035. Nevada is home to abundant lithium deposits, particularly in the Clayton Valley area, making it a focus for companies seeking a dependable source of the mineral here in the US. The nearby Clayton Valley lithium mining operations, less than an hour from Tonopah, offers great potential for job creation and economic growth, making Tonopah an attractive place to call home for those involved with Lithium as well as other mining operations. The proposed TLC Lithium project, also known as the "Made in America" lithium deposit, would be only a short 8-minute drive, or 6 miles, from Tonopah. Overall, Tonopah's unique position with regards to lithium production offers an opportunity for significant economic development and job growth in central Nevada.

FOR SALE DETAILS

PRICE

$12,000,000 USD

PRICE/SF

$150 USD /SF

# OF UNITS

105

PRICE/UNIT

$114,286

CAP RATE

7.13%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mountain View Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.01 AC

LAND SF

131,116 SF

ZONING

Multifamily

APN/PARCEL ID

08-021-02

ASK ABOUT THIS PROPERTY

Randy PeaseNAI Alliance Commercial Real Estate Services, LLCMore Info
775-225-9910

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Randy PeaseNAI Alliance Commercial Real Estate Services, LLCMore Info
775-225-9910

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.