12-Unit Apartment
New
For Sale
$2,995,000
812 Landon Dr, Bullhead City, AZ 86429
Fully occupied condominium units with individually metered utilities and attached garage accommodations.
Property Size16,500 SF
Price / SF$181.52
Days on Market4
Property Features for 812 Landon Dr
General Information
Standard status
Active
Size
16,500 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
6 x 3BR/2BA, 6 x 2BR/2BA
Multifamily Units
12
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$14,126
Listing Agency:
US SOUTHWEST
(928) 763-2288
Listed By:
Konrad Livingston · License #SA549984000
(928) 399-9750
Source:
Exprealty
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 2:47PM
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 US SOUTHWEST
Investment Insights
Based on property information with market context.
This 12-unit apartment property in Bullhead City includes more than 16500 square feet of living space and 6200 square feet of enclosed RV and garage space. The offering includes all units, which are fully occupied while the final phase of conversion to condominiums is underway.
The unit mix includes six three-bedroom, two-bath residences measuring approximately 1467 square feet, each with a 40 ft deep garage and 13 ft doors. The remaining six residences are two-bedroom, two-bath units of approximately 1293 square feet with attached two-car garages. Electric, sewer, and water are individually metered for every unit. The property is located at 812 Landon Dr in Bullhead City, minutes from Lake Mohave and Laughlin, NV.
The unit mix includes six three-bedroom, two-bath residences measuring approximately 1467 square feet, each with a 40 ft deep garage and 13 ft doors. The remaining six residences are two-bedroom, two-bath units of approximately 1293 square feet with attached two-car garages. Electric, sewer, and water are individually metered for every unit. The property is located at 812 Landon Dr in Bullhead City, minutes from Lake Mohave and Laughlin, NV.
Key Highlights
- All 12 condominium units included in the sale and currently fully occupied
- Over 16500 square feet of living space
- 6200 square feet of enclosed RV/garage space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$114,894
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,297,880
$2.3M
Cap Rate 7%
$1,641,343
$1.6M
Cap Rate 9%
$1,276,600
$1.3M
Market Conditions
NOI Build-Up for 16,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$221.8K $13.44/SF
− Vacancy
−$12.9K −$0.78/SF
EGI
$208.9K $12.66/SF
− OpEx
−$94.0K −$5.70/SF
NOI
$114.9K $6.96/SF
Area
Mohave County, AZ
Vacancy
5.80%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,297,880
Cap Rate 7%
$1,641,343
Cap Rate 9%
$1,276,600
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.44M – $1.91M
NOI $114,894 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.68M
$3.22M – $4.30M
NOI $257,875 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 86429, AZ
7,708
Population
5,509
Households
1.4
Avg Household Size
61
Median Age
17%
College-Educated
89%
High-School Grad
274.8 sq mi
ZIP Area
28
Density / Sq Mi
$53,113
Median Household Income
$33,929
Median Earnings
$1,076
Median Rent
$319,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied condominium units with individually metered utilities and attached garage accommodations.
Where is this apartment building located?
The property is located at 812 Landon Dr Bullhead City, AZ.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: All 12 condominium units included in the sale and currently fully occupied; Over 16500 square feet of living space; 6200 square feet of enclosed RV/garage space
