1335 Cornell Avenue Lovelock NV 89419 MLS #250001755

4 unit property consisting of two 2bed/1bath and two 1bed/1bath units. This property was originally a 7 unit motel converted into apartments. The property was renovated in 2018-2019. Renovations at that time included but were not limited to a new roof, new electric, new doors, new double pane windows, new appliances, new water heaters, new flooring, etc. Common on-site laundry. Units are Individual metered for gas & electric. The property is currently fully occupied. Gross scheduled rents: $38,400/yr, The property is currently zoned C commercial. Current land use: 430 Commercial Living accommodations. In addition to rent, tenants are charged a 12% room tax as required by the City of Lovelock. Current owner has not attempted to get the property re-zoned to MF in order to remove the room tax requirements. There are limited apartments in Lovelock. Majority of rental demand comes from employees at the area mines and also employees at the correctional facility.