Mark Ave Apartments

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Address: 960 Mark Ave, Fallon, NV 89406, USA, Fallon, Nevada, US
Created date: November 21, 2023
Date last updated: November 21, 2023
  • Located in growing Fallon, NV
  • Nicely remodeled units
  • Mix of 1 and 3 bed units
  • Close to many employment options (NAS Fallon and many farming jobs)
  • Short commute to Tahoe Reno Industrial Center

Property Description

The Mark Ave Apartments at 960 Mark Ave is a fully remodeled 4-plex located in a prime location in Fallon, NV. The property features two 1 bed 1 bath units and two 3 bed 1 bath units. Property features and renovations include all new cabinets, stainless steel appliances, LVP flooring, granite counter tops, gas forced air, new shower enclosures, in unit washer/dryer hookups, zero scape landscaping, fenced yard, and much more. Verify with your lender, but this 4-plex should also qualify for FHA financing. The property is located in Fallon, NV, which houses the Naval Air Station Fallon. The base has about 5,000 military, civilian and contractor personnel and family members. This group represents nearly 20 percent of Churchill County’s population. Naval Air Station Fallon is a sprawling installation in terms of land, encompassing approximately 241,000 land-acres. The main base covers about 8,670 acres, and the remainder is used for training ranges. NAS Fallon provides between 40 and 50 percent of Churchill County’s economic base, a 2014 report from the Governor’s Military Council concluded, noting that the most recent economic figures available (2008, State of Nevada Clearinghouse and the base itself) put the base’s total state and local economic benefit at $573 million. NAS Fallon helped diversify the economy; supported 4,000 local jobs; and added a $64 million annual payroll plus $79 million in service contracts, $17 million in state and local taxes, $34.8 million for public works, $333,000 in federal impact aid to local schools, and $1.6 million in local environmental protection through easements. Fallon is also home to the many dairy farms, alfalfa farms, cow/calf operations and more. Fallon has a diverse agricultural community with new and alternative crops such as wine grapes and teff.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Multifamily type: 2-4 Units
Price: $800,000
No. of Units: 4
Cap Rate: 4.49%
Average Occupancy: 1000
Year Built: 1987
Year Renovated: 2023
Building Size: 3,444 Sq ft
Lot Size: 0.18 Acres
No. of Stories: 1
APN: 001-494-24
Zoning Code: R2
Opportunity Zone: No
Price per unit: $200,000
Address: 960 Mark Ave, Fallon, NV 89406, USA

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent
3 bed 1 bath 2 1020 1200
1 bed 1 bath 2 720 1000


Income/expense info: Actual
Financial year: 2023
Gross income: 52200
Effective Gross income: 50634
Operating expenses: 14607
Net operating income: 36027

Additional contacts

Full name Phone number Email address
Ben Galles 775 750 6429 [email protected]

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