211 Mizpah Cir Tonopah
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Features & amenities
Location
Introducing 211 E. Mizpah, Tonopah, NV 89049 – a rare investment opportunity presented by Sandra L. Fink & Associates Inc. This property consists of 30 townhome-style apartment units across five two-story buildings, conveniently located just off I-95 for excellent visibility and accessibility. Each unit offers approximately 1,100 sq. ft. of living space, featuring 2 bedrooms, 1.5 bathrooms, a living room, dining area, breakfast bar, fireplace, dishwasher, laundry area, and private patio. Tenants benefit from separate meters and dedicated parking, enhancing convenience and value. Currently generating a gross income of $180,000 with a net income of $124,986, the property has strong financial performance. With projected rent increases to $675 per unit, income potential could rise to $243,000 gross and $186,096 net, producing an attractive 8.86% CAP rate. While some roof and street repairs may be needed, this is a true value-add opportunity for investors. Additionally, discussions with the mapping and planning department suggest that, with proper surveying and subdivision work, the units could potentially be sold individually in the future under CC&Rs, offering even more upside. Don’t miss the chance to secure this high-potential asset in Tonopah, NV. For more details, contact sandy.fink77@gmail.com or visit FinkCommercialRE.com.
- Value-Add Potential – Some buildings may require new roofs, interior driveway paving, and landscaping improvements.
- Current Rent – Units are rented at just $500 per month, offering significant room for growth.
- Utilities – Each tenant pays their own utilities, reducing operating costs for the owner.
- Zoning – The property is zoned as individual townhomes, providing future flexibility.
- Unit Layout – Each residence features 2 bedrooms, 1.5 baths, two stories, a fireplace, living and dining areas, breakfast bar, laundry space, and patio storage.
- Unit Size – Each home is approximately 1,100 square feet.
- Market Comparison – Average rents in the area: $700 for 1 bed/1 bath and $800 for 2 bed/1 bath units.
- Proforma Rent – With adjustments, rents could reasonably reach $675 per unit per month.
- Asking Price – Offered at $2,500,000.