5227 Greene Ln, Las Vegas, NV 89119
4 Unit Apartment Building | $610,000 ($152,500/Unit) | 6.39% Cap Rate | Las Vegas, NV 89119
Asking Price $610,000
- Property Type
-
Multifamily
- Square Feet
- 3,648 SF
Listing Contacts
- Property Info
Property Overview
Great Investment opportunity to take advantage of rising market rental rates which are up more than 30% since Jan 2020. This 4 plex consists of one 3 bedroom unit, one 2 bedroom unit and two 1 bedroom units. This property is in an ideal central location near both Harry Reid International airport and UNLV. The gated community is in high demand with plenty of advantages over other nearby apartments including a security guard and a community pool. Each unit also has a detached 1 car garage, a rare amenity for apartments like this. One unit was just renovated and two have new air conditioners that were replaced within the last year. Existing rents are 10-15% below market giving an investor upside and a 7.25% pro-forma cap rate at market rents.
Property Details
- Class
- C
- Year Built
- 1977
- Stories
- 2
- Lot Size (sq. ft)
- 4,792 SF
- Units
- 4
Highlights
- Central Location
- Guard gated community
- Community Pool
- 1 Car Garage for Each Unit
- Below Market Rents
Nearby Properties
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