Building Details

Buildings 1

Listing Agency: Coldwell Banker Commercial Excel Show Phone

Listed By: Sierra Petersen · License #BS.0146660 Show Phone

Source: Exprealty

Added: Oct 13 Changed: Oct 19 Last Checked: Oct 19 at 2:23PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial Excel

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Investment Insights

Based on property information with market context.

This 4,432-square-foot multifamily property contains four residences, each configured with two bedrooms and 1.5 bathrooms. Central air is installed throughout, and the furnaces were updated in 2023. A shed and sizable yard provide outdoor space and storage. The roof was partially replaced at the rear approximately two years ago; the front section is eight years old.

The property sits beside a golf course and offers views of the Ruby Mountains. Each residence has separate propane and electric meters, with those utilities paid by tenants. Water, sewer, and trash are covered by the landlord. All four leases are month-to-month.

Key Highlights

• Four units, each with 2 bedrooms and 1.5 bathrooms
• 4,432 square feet of building area
• Central air and furnaces updated in 2023

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,158

Cap Rate

5.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$723,160 $723.2K

Cap Rate 7%

$516,543 $516.5K

Cap Rate 9%

$401,756 $401.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,432 SF

Gross rent

$55.8K $12.60/SF

− Vacancy

−$4.2K −$0.95/SF

EGI

$51.7K $11.66/SF

− OpEx

−$15.5K −$3.50/SF

NOI

$36.2K $8.16/SF

Area

Elko County, NV

Vacancy

7.50%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$723,160

Cap Rate 7%

$516,543

Cap Rate 9%

$401,756

Alternative Uses

Best Use

Multifamily LT 5

$516.5K

$452.0K – $602.6K (±1% cap)

NOI $36,158 @ 7.0% cap · market cap 5.09%

Second Best

Apartment 5plus

$478.0K

$418.3K – $557.7K (±1% cap)

NOI $33,460 @ 7.0% cap · market cap 4.71%

Theoretical Best

Office A

$1.41M

$1.23M – $1.64M (±1% cap)

NOI $98,583 @ 7.0% cap · market cap 13.88%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

4

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

68

Businesses Nearby

Explore this area Business Placement

Demographics for 89815, NV

15,856

Population

5,448

Households

2.9

Avg Household Size

34

Median Age

23%

College-Educated

94%

High-School Grad

703.7 sq mi

ZIP Area

23

Density / Sq Mi

$103,691

Median Household Income

$52,350

Median Earnings

$1,393

Median Rent

$310,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Frequently Asked Questions

What type of property is this?

Quadplex - Central air serves every residence, with propane and electric individually metered to each unit.

Where is this quadplex located?

The property is located at 264 Country Club Pl Spring Creek, NV.

What is the asking price?

The asking price for this property is $710,000.

What are key features of this property?

This property features: Four units, each with 2 bedrooms and 1.5 bathrooms; 4,432 square feet of building area; Central air and furnaces updated in 2023