1335 Cornell, Lovelock, NV 89419
1335 Cornell, Lovelock, NV 89419
1335 Cornell, Lovelock, NV 89419
31
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$499,000
Est. payment /mo
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6 Beds
4 Baths
2,184 SqFt
Price Dropped by $26K

1335 Cornell Lovelock, NV 89419

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Kyle Krch

Kyle Krch

+1(775) 276-5858

UPDATED:

Key Details

Property Type Manufactured Home

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,184 sqft

Price per Sqft $228

Subdivision Webb Addition

MLS Listing ID 260008894

Bedrooms 6

Year Built 1949

Annual Tax Amount $1,566

Lot Size 9,750 Sqft

Acres 0.22

Lot Dimensions 0.22

Property Sub-Type Quadruplex

Property Description

Excellent opportunity to acquire income-producing 4-unit investment property with an estimated $27,000 annual NOI and a 5.14 CAP rate. The property consists of two 2-bedroom/1-bath units and two 1-bedroom/1-bath units, offering a desirable mix of unit sizes. Originally constructed in 1949 as the 7-unit Sage Motel, the property was converted to apartments in 2005 and operated as multifamily housing through 2016. Between 2018 and 2019, the property underwent an extensive renovation, including a new roof, plumbing, electrical, doors, Low-E double-pane windows, flooring, paint, water heaters, appliances, and numerous additional improvements, creating attractive, low-maintenance units. Each apartment is separately metered for gas and electricity, helping reduce operating expenses. The property includes approximately 2,184 square feet in the main building plus a 130-square-foot detached laundry/storage building. Commercial zoning provides exceptional flexibility for investors and owner-users alike. Potential uses include long-term apartments, short-term rentals, motel/hospitality, Airbnb or vacation rentals (subject to local regulations), retail, office space, or a live/work business opportunity. Seller financing is available with negotiable owner-carry terms, making this an attractive option for qualified buyers seeking positive cash flow and flexible acquisition terms.

Location

State NV

County Pershing

Community Webb Addition

Area Webb Addition

Zoning C

Interior

Heating Electric, Natural Gas, Wall Furnace

Flooring Laminate

Fireplace No

Laundry Common Area

Exterior

Exterior Feature None

Parking Features Assigned

Pool None

Utilities Available Cable Connected, Electricity Connected, Internet Available, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected, Cellular Coverage, Water Meter Installed

View Y/N No

Roof Type Composition,Pitched,Shingle

Garage No

Building

Lot Description Level

Story 1

Foundation Slab

Water Public

Structure Type Frame,Vinyl Siding

Schools

Elementary Schools Lovelock

Middle Schools Pershing

High Schools Pershing

Others

Tax ID 001-044-07

Acceptable Financing 1031 Exchange, Cash, Conventional, Owner May Carry, Owner May Carry 2nd

Listing Terms 1031 Exchange, Cash, Conventional, Owner May Carry, Owner May Carry 2nd

Listed by RE/MAX Gold

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Kyle Krch

Kyle Krch

Broker Associate License ID: 56206

+1(775) 276-5858

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1335 Cornell