Coldwell Banker Premier Realty is pleased to offer for sale a twelve unit multifamily portfolio in Ely,NV. 407 Clark St is 8 units, all 2 bed/2.5 bath and built in 2006. 600 Campton St is a 4-plex, consisting of 1 Bed/1 Bath units and was built in 1907. The cap rate generally exceeds equivalent vintage projects in larger metro areas but has the benefit of strong fundamentals in the Ely area.

Location Description:

407 Clark St, an eight unit project, is located in Ely near Aultman St which runs through the center of town and becomes the Lincoln Hwy (Hwy 50). The portfolio also includes a 4-plex at 600 Campton St.

The Ely employment base is largely driven by mining. The Great Basin has the world's greatest mineral supplies. Gold, silver & copper are the leaders. If Nevada were a country, it would be the 3rd leading producer of gold after Russia & South Africa. The Robison Mine in Ely is the largest open pit copper mine in the world. Barrick & Newmont are the largest mining companies on earth with gold reserves of 888 billion $ each (almost 1 trillion)

Copper prices have surged over 30% in last 120 days fueling over 400 new jobs in White Pine County whose population is 12,000 people now. Richard Howe, White Pine County commission chairmen sees 20 to 30% growth in next 18 months. Barrick & Newmont are very active in the Great Basin along with 100 + or - other large mining companies. Mining is Nevada's no 1 industry!

Highlights:

>> 12 total units

>> Stabilized

>> Strong local fundamentals

>> 7.38% cap rate

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