2001 Fremont St - Apartments FOR SALE


Las Vegas, NV 89101
$4,500,000 USD
702-306-4733
2001 Fremont St, Las Vegas, NV for Sale
$4,500,000 USD
Apartments - FOR SALE
1/16
null | 8.16% Cap Rate

2001 Fremont St
Las Vegas, NV 89101


HIGHLIGHTS

  • Government Tenant
  • Triple Net Asset
  • Secure building with little need for maintenance
  • Highly Desired Location

OVERVIEW

WELCOME to 2001 Fremont Street! An Institutional grade TRIPLE NET (NNN) Multi Family asset. Once an acclaimed star studded Motel in Las Vegas turned institutional grade Multi Family building in the heart of Las Vegas. This asset is entirely subleased by the government for no headache management. Made up of 26 units - 19 Studios, 5 1 bed & 2 2 beds. This asset is fully renovated, (with permits), maintains a strong tenant and situated in a great location. Building comes with major upgrades, gated entry, Laundry room, controlled access, stainless steel appliances, beautiful black cabinetry, quartz counter tops, recess lighting, fans, ac units and more. Fully landscaped with many date Palm and canary palm trees, pavers throughout and more. The laundry unit can be converted back to a studio unit which would make the property 26 units in total. Located in the heart of Fremont- this asset will always maintain strong demand. Directly across the street is a condo building selling units for $500k. In this uncertain climate buying an asset with a government guarantee in a growing market is the way to go.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$523 USD /SF

# OF UNITS

25

PRICE/UNIT

$180,000

CAP RATE

8.16%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.75 AC

LAND SF

32,670 SF

ZONING

C-2

APN/PARCEL ID

139-35-802-002

ASK ABOUT THIS PROPERTY

David MakabiKeller Williams RealtyMore Info
702-306-4733

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

David MakabiKeller Williams RealtyMore Info
702-306-4733

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.