1286 Chardonnay Drive

Description

Exceptional Turn-Key Four-Plex Investment Opportunity in the highly desirable Gardnerville Ranchos. Rarely does a low-overhead, self-manageable asset this well maintained come to market. Situated at the very end of Chardonnay Drive on approximately one-half acre, this clean duplex pair is configured as a cohesive four-plex sharing a common driveway. The private, peaceful setting features stunning, unobstructed panoramic Sierra Nevada Mountain views and adjoins open space where the former Bing Quarry once operated. The asset consists of four spacious, single-story units totaling approximately 5,702 square feet of total living space. Each residence offers a high-demand layout featuring 1,425 square feet, 3 bedrooms, 2 bathrooms, and an attached oversized 2-car garage with built-in storage. The units boast a thoughtfully designed open-concept floor plan with vaulted ceilings, generous storage, and separate laundry rooms with full-size washer and dryer hookups. With all four units currently occupied by responsible tenants, this is a true turnkey investment. Ownership has enjoyed an impeccable tenant history with a flawless, near-zero historical vacancy rate over the past 23 years, providing investors with long-term stability and consistent cash flow. Significant capital improvements have already been completed to minimize near-term capital expenditure liabilities, including brand-new roofs completed in 2024 and fresh full exterior paint in 2025. Every unit features a fully fenced yard space with expansive lawns, concrete patios, central gas forced-air heating, gas water heaters, and well-equipped kitchens with a dishwasher, disposal, microwave hood, and electric range. Several units have been extensively updated, including new luxury vinyl plank flooring, fresh interior paint, upgraded lighting, ceiling fans, electrical outlets and switches, new garage door systems, a new furnace, central air conditioning, a new water heater, and updated bathroom fixtures. Select units also enjoy panoramic mountain views and private storage sheds to further maximize tenant appeal. Please contact the listing agent for a complete breakdown of improvements and upgrades by unit. The property currently generates 9,060 dollars per month in gross rental income and is offered at an approximate 5.50 cap rate based on actual numbers. Low operational overhead is driven by ultra-low fixed annual expenses. For investors looking to maximize returns, current market rents for comparable premium 3-bedroom, 2-bath homes indicate a clear path to approximately 9,800 dollars per month in gross rental income equating to an estimated 6.00 cap rate at the 1,800,000 asking price. This presents an outstanding opportunity for buyers seeking immediate cash flow upside with minimal capital improvements, making it ideal for those completing a 1031 exchange and looking to park capital in a premium, low-maintenance Northern Nevada asset. Whether you are expanding your portfolio or searching for a premier income-producing property in one of Gardnerville's most desirable locations, 1286 Chardonnay Drive offers an outstanding, hard-to-replicate combination of stable cash flow, proven historical occupancy, and recent capital improvements with absolutely no HOA fees or restrictions.