Mountain View Apartments | 937 N Main St
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Mountain View Apartments 937 N Main St
105 Unit Apartment Building $12,000,000 ($114,286/Unit) 7.13% Cap Rate Tonopah, NV 89049
Investment Highlights
- Located near existing and developing lithium mines, processing plants and other high paying jobs
- Directly off Highway 395
- 48 one bed units, 56 two bed units, and 1 five bed unit
- Seller to complete renovations
- High demand area for rental units
- Halfway between Reno, NV and Las Vegas, NV
Executive Summary
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.
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.
Financial Summary (Pro forma - 2023) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Pro forma - 2023) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Vacancy Loss | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $12,000,000 | Apartment Style | Garden |
Price Per Unit | $114,286 | Building Class | C |
Sale Type | Investment | Lot Size | 3.01 AC |
Cap Rate | 7.13% | Building Size | 79,900 SF |
No. Units | 105 | Average Occupancy | 89% |
Property Type | Multifamily | No. Stories | 2 |
Property Subtype | Apartment | Year Built | 1988 |
Price | $12,000,000 |
Price Per Unit | $114,286 |
Sale Type | Investment |
Cap Rate | 7.13% |
No. Units | 105 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Garden |
Building Class | C |
Lot Size | 3.01 AC |
Building Size | 79,900 SF |
Average Occupancy | 89% |
No. Stories | 2 |
Year Built | 1988 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 56 | $650.00 | - |
2+1 | 48 | $800.00 | - |
5+2 | 1 | $2,000 | - |
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PROPERTY TAXES
Parcel Number | 006-531-10 | Total Assessment | $158,394 (2024) |
Land Assessment | $4,187 (2024) | Annual Taxes | ($1) ($0.00/SF) |
Improvements Assessment | $154,207 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
006-531-10
Land Assessment
$4,187 (2024)
Improvements Assessment
$154,207 (2024)
Total Assessment
$158,394 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
Zoning Code | Multifamily (Nye County/Esmerelda County lines run in the middle of property. A portion of the property sits in Nye County and the remainder in Esmerelda County.) |
Multifamily (Nye County/Esmerelda County lines run in the middle of property. A portion of the property sits in Nye County and the remainder in Esmerelda County.) |
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Mountain View Apartments | 937 N Main St
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