5227 Greene Ln - Apartments FOR SALE


Las Vegas, NV 89119- South Las Vegas
$610,000 USD
702-378-8620
5227 Greene Ln, Las Vegas, NV for Sale
$610,000 USD
Apartments - FOR SALE
1/12
null | 6.39% Cap Rate

5227 Greene Ln
Las Vegas, NV 89119
South Las Vegas


HIGHLIGHTS

  • Central Location
  • Guard gated community
  • Community Pool
  • 1 Car Garage for Each Unit
  • Below Market Rents

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.

FOR SALE DETAILS

PRICE

$610,000 USD

PRICE/SF

$167 USD /SF

# OF UNITS

4

PRICE/UNIT

$152,500

CAP RATE

6.39%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,990 SF

ZONING

C:R-3

APN/PARCEL ID

162-27-611-335

ASK ABOUT THIS PROPERTY

Timothy EricksonSkyline Real Estate Services LLCMore Info
702-378-8620

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Timothy EricksonSkyline Real Estate Services LLCMore Info
702-378-8620

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