1301 Aultman St Ely, NV 89301-1646

This exceptional 29-unit motel in downtown Ely, Nevada, presents a lucrative investment opportunity. Boasting a remarkable 19.77% cap rate based on 10 months of 2024 data ($309,319 gross income, $67,300 operating expenses), this two-story, 8,316 square foot property offers significant return potential. Built in 1974 and renovated in 2017, the motel features 29 keys, each equipped with a flat-screen TV, microwave, refrigerator, air conditioning, and electric heaters. Guest amenities include free Wi-Fi, HBO, coffee, tea, and ample parking (2.77 spaces per 1,000 sq ft). The property also includes a manager's one-bedroom apartment attached to the office. Its convenient downtown location places it near casinos and restaurants, enhancing its appeal to travelers. Additional features include balconies, a business center, high-speed internet access, and on-site security staff. The 0.53-acre lot provides ample space. The asking price is $1,320,000 ($158.73/sq ft, $45,517.24/key). This property is classified as a Class C, owner/user investment. Note that additional properties, including a residential home and a mobile home park, are also available for sale separately.