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Multifamily

The Palms Apartments

1625 Palm St, Henderson, NV 89011

Listing Price: $3,700,000

Cap Rate
4.79%
Number of Units
25
Price/Unit
$148,000
Price/Gross SF
$303.78
Gross SF
12,180

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire The Palms Apartments, a 25-unit multifamily investment opportunity located in Henderson, Nevada. The Palms Apartments include 108 East Coogan Drive and 1625, 1633, 1635, and 1637 Palm Street. Situated on 3 adjacent parcels measuring a combined 1.08 acres, The Palms Apartments offers a diverse mix of unit types including studio, one-bedroom, two-bedroom, and three-bedroom floor plans. Additionally, the property’s single-story construction, ample parking, and private patios (select units) help the property appeal to prospective renters. Current ownership recently invested significant capital into interior and exterior improvements. Exterior upgrades include fresh paint, pavement, awnings, and drought resistant landscaping while the upgraded interiors feature fresh paint, new vinyl flooring, ceiling fans, countertops, and more. The Palms Apartments benefits from its location just east of Interstate 515 and just north of Henderson’s popular Water Street District. The property is just under 2 miles from the Galleria at Sunset and its surrounding major retail centers, providing residents with convenient access to a plethora of shopping, dining, and entertainment options. Given its excellent Henderson location, diverse unit mix, and attractive single-story construction, The Palms Apartments is well-suited to provide investors with strong returns and value appreciation over the long term investment horizon.

Investment Highlights

  • Diverse Mix of Unit Types Including Studio, One-Bedroom, Two-Bedroom, & Three-Bedroom Floor Plans
  • Single-Story Construction, Ample Parking, & Private Patios (Select Units)
  • Current Ownership Has Recently Invested Significant Capital Into Interior & Exterior Improvements
  • Excellent Henderson Location Just East of Interstate 515 & Just North of Henderson's Popular Water Street District

Exclusively Listed By

  • Drew Holden

    First Vice President Investments

    (949) 419-3200

    Email Drew

    License(s): CA: 01962800, NV: S.0189703

    Las Vegas

Multifamily

The Palms Apartments

Listing Price: $3,700,000

Cap Rate
4.79%
Number of Units
25
Price/Unit
$148,000
Price/Gross SF
$303.78
Gross SF
12,180

Investment Highlights

  • Diverse Mix of Unit Types Including Studio, One-Bedroom, Two-Bedroom, & Three-Bedroom Floor Plans
  • Single-Story Construction, Ample Parking, & Private Patios (Select Units)
  • Current Ownership Has Recently Invested Significant Capital Into Interior & Exterior Improvements
  • Excellent Henderson Location Just East of Interstate 515 & Just North of Henderson's Popular Water Street District

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire The Palms Apartments, a 25-unit multifamily investment opportunity located in Henderson, Nevada. The Palms Apartments include 108 East Coogan Drive and 1625, 1633, 1635, and 1637 Palm Street. Situated on 3 adjacent parcels measuring a combined 1.08 acres, The Palms Apartments offers a diverse mix of unit types including studio, one-bedroom, two-bedroom, and three-bedroom floor plans. Additionally, the property’s single-story construction, ample parking, and private patios (select units) help the property appeal to prospective renters. Current ownership recently invested significant capital into interior and exterior improvements. Exterior upgrades include fresh paint, pavement, awnings, and drought resistant landscaping while the upgraded interiors feature fresh paint, new vinyl flooring, ceiling fans, countertops, and more. The Palms Apartments benefits from its location just east of Interstate 515 and just north of Henderson’s popular Water Street District. The property is just under 2 miles from the Galleria at Sunset and its surrounding major retail centers, providing residents with convenient access to a plethora of shopping, dining, and entertainment options. Given its excellent Henderson location, diverse unit mix, and attractive single-story construction, The Palms Apartments is well-suited to provide investors with strong returns and value appreciation over the long term investment horizon.

Exclusively Listed By

  • Drew Holden

    First Vice President Investments

    (949) 419-3200

    Email Drew

    License(s): CA: 01962800, NV: S.0189703

    Las Vegas

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