1153 Sierra Vista Drive
Property Description
H-1 ZONING!! Exceptional opportunity to acquire a fully occupied 4-plex at 1153 Sierra Vista Drive, offering immediate, stable cash flow with all tenants participating in the Section 8 program, providing dependable rental income. The property generates an impressive Net Operating Income (NOI) of $84,205, representing approximately a 6.4% cap rate based on the current list price. This well-maintained asset has been updated and is in excellent condition, including all new HVAC/air conditioning units, helping minimize future capital expenditures. Residents also enjoy access to a shared swimming pool and a shared coin-operated laundry facility, creating additional income potential. Best of all, there is no HOA, keeping operating costs lower and maximizing investor returns. A key feature that sets this property apart is its highly desirable H-1 (Limited Resort & Apartment) zoning. The adjacent 4-plex at 1165 Sierra Vista Drive is also available for purchase and is similarly zoned H-1. Each property may be purchased individually or together. For investors seeking a larger portfolio, purchasing both buildings creates an attractive investment with a combined capitalization rate of approximately 6.4% while increasing economies of scale and management efficiency. Adding to the opportunity, the adjacent H-1 zoned parcel is also available for sale. A developer could acquire all three properties, creating a unique assemblage for future hospitality, motel, hotel, or other compatible redevelopment, subject to applicable governmental approvals.
Broker Details
Signature Real Estate Group, LLC (702) 799-9598
MLS ID: 232732 State License Number: BS.0147064
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,310,000 |
| No. of Units: | 4 |
| Year Built: | 1963 |
| Lot Size: | 4,274.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $327,500 |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-GLVARNV-2801616
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