Current Use by Public Records
- Apartment buildings
Property Details for 880 Lady Luck Dr
- Year built
- 2001
- Lot size
- 1.65 lot acres
- Property type
- Apartment buildings
Description
This exceptional 21-unit apartment building presents a compelling redevelopment opportunity in Jackpot, Nevada. The property, situated on a 1.65-acre lot (APN 009-005-093), comprises four two-story buildings, offering a mix of eight two-bedroom, two-bathroom units and twelve three-bedroom, two-bathroom units. Currently operating at 100% occupancy with all tenants under one-year leases, the property boasts 25 covered parking spaces (approximately two per unit). Recently renovated (2023-2024), the complex includes a small clubhouse converted into a rentable one-bedroom, one-bathroom apartment. Located at 880 Lady Luck Dr, Jackpot, NV 89825, this property benefits from its proximity to parks and is zoned R2, allowing for potential condo conversion. The asking price is $2,650,000, translating to $126,190.48 per unit. Recent rent increases have established a current rate of $850 for two-bedroom units and $950 for three-bedroom units. The property's strong performance and location within a growing community, marked by recent additions like a Love's Truck Stop, Family Dollar, and Subway, make it an attractive investment. Built in 2001, this family-owned property is offered for sale by owner.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jackpot
- County
- Elko
- State
- Nevada
- Longitude
- -114.666
- Latitude
- 41.9891
