115 5Th AveSun Valley, NV 89433

For Sale
$1,600,000

16-unit park, high occupancy, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
92
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

Highlights

  • High occupancy mobile home park with strong rental history.
  • Expansion potential with additional site space available.
  • Excellent central location offering convenient access.
  • All homes are tenant-owned, eliminating park-owned inventory.

Property Details for 115 5Th Ave

Property type
Multifamily properties, Mobile home & RV parks
Class
C
Year Built
1871
Buildings
1
Stories
1
Lot Size (sq. ft)
87,381 SF
Units
16

Location Insight

City
Sun Valley
County
Washoe
State
Nevada
Latitude
39.5929606
Longitude
-119.7810816
115 5Th Ave, Sun Valley, Nevada

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115 5Th Ave
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