100 E 1st S St
Property Description
12 Units. New. Right near city center, behind the Mesquite City offices. Walking distance to everything. All 12 units are 2 Br. 1, Ba, 900 sf with mountain views to the south and ample parking. New, neat, clean, fully occupied. Only 1.7% vacancy factor in 2025. At list price, after ALL expenses 4.9% NET NET cap rate. Rents currently running $1150 per month. Room for reasonable, slow increases. Could self manage at expiration of current management agreement with ERA Brokers and bump that net cap rate by 1-2%. Or, if it's not broken, keep it simple and keep existing management. 100% occupancy and no headaches is a good thing! Appraised in 2025 for $2.7million. Lots of parking, and off the main streets for a quieter location than many. Still room to improve it more. Picture adding security gates, carports, or a pool area or other recreational amenities. Incredible investment opportunity! Please do not disturb tenants.Broker Details
Prime Properties Mesquite (702) 344-5000
MLS ID: AA13516 State License Number: B.0143955.LLC
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,500,000 |
| No. of Units: | 12 |
| Year Built: | 2024 |
| Lot Size: | 10,800.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $208,333 |
| Property Website | Click Here |
| Number of Bedrooms: | 24 |
| Number of Bathrooms: | 12 |
ID: 3yd-MREANV-1127401
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