1335 Cornell Ave, Lovelock, NV 89419

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-maintena...