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233 W Mesquite Blvd 9 Unit Apartment Building For Sale Mesquite, NV 89027
Executive Summary
?Major capital work completed. Seller has cured significant deferred maintenance, including HVAC; future capex expected to be minimal.
?Below-market rents. In-place studios avg $559 vs. Mesquite studio market of ~$900-$1,060.
?Conservative stabilization. $625 target studio rent is ~30% below market - achieved on normal turnover, no renovation premium required.
?Workforce housing the city wants. Mesquite has made attainable housing a stated priority as growth outpaces supply.
?Scarce asset type. Large complexes are ~7% of housing stock; 9-unit offerings rarely trade here.
?Below-market rents. In-place studios avg $559 vs. Mesquite studio market of ~$900-$1,060.
?Conservative stabilization. $625 target studio rent is ~30% below market - achieved on normal turnover, no renovation premium required.
?Workforce housing the city wants. Mesquite has made attainable housing a stated priority as growth outpaces supply.
?Scarce asset type. Large complexes are ~7% of housing stock; 9-unit offerings rarely trade here.
Property Facts
| Sale Type | Investment | Lot Size | 0.36 AC |
| No. Units | 9 | Building Size | 3,694 SF |
| Property Type | Multifamily | Average Occupancy | 89% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1954 |
| Building Class | C | Parking Ratio | 3.25/1,000 SF |
| Zoning | Commercial - Multi Family single family house and attached to 8 studio units. | ||
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 3,694 SF |
| Average Occupancy | 89% |
| No. Stories | 1 |
| Year Built | 1954 |
| Parking Ratio | 3.25/1,000 SF |
| Zoning | Commercial - Multi Family single family house and attached to 8 studio units. |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Fireplace
- Microwave
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Tub/Shower
- Basement
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 3+2 | 1 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 001-16-201-038 | Improvements Assessment | $43,410 |
| Land Assessment | $51,945 | Total Assessment | $95,355 |
Property Taxes
Parcel Number
001-16-201-038
Land Assessment
$51,945
Improvements Assessment
$43,410
Total Assessment
$95,355
Contact
-
Brandon Johnson - Trav CRE at REE Commercial
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Trav CRE at REE Commercial
233 W Mesquite Blvd
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