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The Wagon Wheel 340 6th St 33 Unit Apartment Building $650,000 ($19,697/Unit) 9.50% Cap Rate Wells, NV 89835
Executive Summary
A rare value-add multifamily investment opportunity in Wells, Nevada. This 33-unit Motel, which has been converted to studio units, offers immediate cash flow with significant upside potential through lease-up of currently vacant units. This property presents a compelling value-add opportunity for an investor to reposition and stabilize occupancy. At current in-place rents, the property generates a strong going-in cap rate, with substantial upside as remaining units are leased. Contact the agent for more information.
Property Facts
| Price | $650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $19,697 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.88 AC |
| Cap Rate | 9.50% | Building Size | 13,785 SF |
| No. Units | 33 | Average Occupancy | 52% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 2022/2026 |
| Zoning | GC | ||
| Price | $650,000 |
| Price Per Unit | $19,697 |
| Sale Type | Investment |
| Cap Rate | 9.50% |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 13,785 SF |
| Average Occupancy | 52% |
| No. Stories | 1 |
| Year Built/Renovated | 2022/2026 |
| Zoning | GC |
Amenities
Site Amenities
- Laundry Facilities
- Furnished Units Available
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 31 | $625.00 | 340 |
| 1+1 | 1 | $825.00 | 1 |
| 1+2 | 1 | $833.00 | 1 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 002-545-002 | Improvements Assessment | $43,535 |
| Land Assessment | $3,938 | Total Assessment | $47,472 |
Property Taxes
Parcel Number
002-545-002
Land Assessment
$3,938
Improvements Assessment
$43,535
Total Assessment
$47,472
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Presented by
Robinhood Realty Elko LLC
The Wagon Wheel | 340 6th St
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