100 E 1st South St - Apartments FOR SALE


Mesquite, NV 89027
$2,500,000 USD
702-701-3326
100 E 1st South St, Mesquite, NV for Sale
$2,500,000 USD
Apartments - FOR SALE
1/61
null | 4.9% Cap Rate

100 E 1st South St
Mesquite, NV 89027


OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$231 USD /SF

# OF UNITS

12

PRICE/UNIT

$208,333

CAP RATE

4.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NEW - No Headaches! - Fully rented 12 units -

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.73 AC

LAND SF

31,799 SF

ZONING

MF1

APN/PARCEL ID

001-16-702-001

ASK ABOUT THIS PROPERTY

Shaun CaldwellPrime Properties MesquiteMore Info
702-701-3326

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Shaun CaldwellPrime Properties MesquiteMore Info
702-701-3326

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.