420-460 H St

The properties at 470 H Street, 460 H Street, and 420 H Street are interconnected, creating a seamless and cohesive investment opportunity. With a combined total of 18,528 square feet, these buildings offer a diverse unit mix across multiple configurations, including 1-bedroom, 2-bedroom, and 3-bedroom units, making them ideal for a range of tenant needs. Owner includes utilities and units are individually metered for electricity.
The 4-plex has laundry in each unit.
The 12-plexes have laundry facilities located on both levels. (Approximate monthly laundry income is $400.00).
Property Overview
This portfolio of three meticulously maintained apartment buildings, located at 470 H Street, 460 H Street, and 420 H Street in Hawthorne, Nevada, represents the finest multifamily housing option in the area. Together, these properties comprise 28 units across three two-story buildings, offering an exceptional investment opportunity for multifamily property investors.
The seller has demonstrated a commitment to excellence with ongoing renovations and impeccable upkeep of the landscaping, parking lot, and both the interior and exterior of the buildings. The apartments are well-equipped with individual air conditioning units and modern appliances, ensuring tenant comfort and satisfaction.
Additionally, the property features two storage containers stocked with essential maintenance supplies, including refrigerators, air conditioning units, flooring materials, and plumbing supplies, providing operational efficiency for the owner. An experienced part-time manager is employed to handle tenant relations, rent collection, and maintenance requests, streamlining property operations.
Location and Demographics
Hawthorne, Nevada, is a welcoming community nestled in Mineral County, near the scenic Walker Lake. Known as the “Home of the Largest Ammo Depot in the World,” the town has a rich history and a stable local economy. Hawthorne offers a welcoming small-town environment with a strong sense of community. The town boasts affordable living and a peaceful lifestyle, making it an attractive location for renters.
Major Employers:
Hawthorne Army Depot: A significant contributor to the local economy, providing steady employment and attracting residents to the area.
Mineral County School District and local government offices, which anchor the job market.
Tourism and Recreation: Walker Lake and surrounding outdoor activities bring visitors and residents alike.
Geographic Advantages:
Proximity to Key Markets: Conveniently located near U.S. Route 95, Hawthorne connects easily to major Nevada hubs like Reno and Las Vegas.
Outdoor Lifestyle: Its close proximity to Walker Lake and surrounding public lands offers abundant opportunities for recreation, including fishing, hiking, and camping, which attract outdoor enthusiasts to the area.
Hawthorne’s stable job market and affordable cost of living create a reliable tenant base for multifamily properties.
Investment Benefits
Turnkey Operation: With recent upgrades and an established management system in place, this portfolio offers a hassle-free transition for new ownership.
Tenant Appeal: Modernized units, individual air conditioning, and high-quality maintenance ensure strong tenant demand.
Low Competition: As the premier apartment complex in Hawthorne, these properties have a competitive advantage in attracting and retaining tenants.
Steady Income Potential: The stable local economy and presence of long-term major employers support consistent occupancy rates.
Value-Add Opportunities: The ongoing remodeling of units provides room for rental growth and increased property value over time.
470 H STREET (Seller may consider selling 4-plex separately)
TOTAL BUILDING SQUARE FOOTAGE 2880 SQUARE FEET
UNIT A - 2 BEDROOM 720 SQUARE FEET
UNIT B - 2 BEDROOM 720 SQUARE FEET
UNIT C - 2 BEDROOM 720 SQUARE FEET
UNIT D - 2 BEDROOM 720 SQUARE FEET
BUILDING CONSISTS OF 4, 2 BEDROOM 1 BATH UNITS
460 H STREET
TOTAL BUILDING SQUARE FOOTAGE 7824 SQUARE FEET
UNIT 1 - 2 BEDROOM 700 SQUARE FEET
UNIT 2 - 3 BEDROOM 800 SQUARE FEET
UNIT 3 - 1 BEDROOM 600 SQUARE FEET
UNIT 4 -1 BEDROOM 600 SQUARE FEET
UNIT 5 -1 BEDROOM 600 SQUARE FEET
UNIT 6 -1 BEDROOM 600 SQUARE FEET
UNIT 7 -2 BEDROOM 700 SQUARE FEET
UNIT 8 -3 BEDROOM 800 SQUARE FEET
UNIT 9 -1 BEDROOM 600 SQUARE FEET
UNIT 10 -1 BEDROOM 600 SQUARE FEET
UNIT 11 -1 BEDROOM 600 SQUARE FEET
UNIT 12 -1 BEDROOM 600 SQUARE FEET
BUILDING CONSISTS OF 8 -1 BEDROOM UNITS, 2-
2 BEDROOM UNITS, AND 2 -3 BEDROOM UNITS
420 H STREET
TOTAL BUILDING SQUARE FOOTAGE 7824 SQUARE FEET
UNIT 21 -1 BEDROOM 600 SQUARE FEET
UNIT 22 -1 BEDROOM 600 SQUARE FEET
UNIT 23 -1 BEDROOM 600 SQUARE FEET
UNIT 24 -1 BEDROOM 600 SQUARE FEET
UNIT 25 -2 BEDROOM 700 SQUARE FEET
UNIT 26 -3 BEDROOM 800 SQUARE FEET
UNIT 27 -1 BEDROOM 600 SQUARE FEET
UNIT 28 -1 BEDROOM 600 SQUARE FEET
UNIT 29-1 BEDROOM 600 SQUARE FEET
UNIT 30 -1 BEDROOM 600 SQUARE FEET
UNIT 31 -2 BEDROOM 700 SQUARE FEET
UNIT 32 -3 BEDROOM 800 SQUARE FEET
BUILDING CONSISTS OF 8 -1 BEDROOM UNITS, 2-
2 BEDROOM UNITS, AND 2 -3 BEDROOM UNITS