Multifamily
The Palms Apartments
1625 Palm St, Henderson, NV 89011
Listing Price: $3,275,000
Investment Overview
Marcus & Millichap, as the exclusive listing group, is proud to offer the opportunity to acquire The Palms Apartments, a 26-unit multifamily investment opportunity located near Downtown Henderson, Nevada. The Palms Apartments, which are spread across 3 adjacent lots totaling 1.08 acres, have a diverse unit mix, including studio, one-bedroom, and two-bedroom floor designs. In addition, the building’s single-story design, abundant parking, and private patios in some units make it appealing to potential tenants. Current ownership recently invested significant capital into interior and exterior improvements. Fresh paint, new vinyl flooring, ceiling fans, worktops, and drought-resistant landscaping are among the exterior improvements. Fresh paint, new pavement, awnings, and landscaping are among the interior improvements. The Palms Apartments benefit from being close to Henderson’s well-known Water Street District and Interstate 515 to the east and to the north, respectively. The Galleria at Sunset and its neighboring major retail malls are less than 2 miles from the property, giving locals easy access to a wide range of dining, entertainment, and shopping opportunities. The Palms Apartments are perfectly positioned to offer investors substantial returns and value increase over the course of a long investment horizon due to its prime Henderson location, broad unit mix, and attractive single story structure.
The Palms Apartments
Investment Highlights
- Stabilized Asset at a 6.57% Current CAP Rate
- By Increasing Rents to Recently Achieved Highs at Property, New Owner Can Get Over a 7% CAP Rate Within the First Few Months of Ownership
- Within a Quick 10 Minute Drive of All of the Amenities Located at the Water Street Plaza in Downtown Henderson
- The Palms Apartments is Well-Suited to Provide Investors with Strong Returns from Day 1 and Increased Returns within the First 90 Days
- Community Amenities Include Community Patio Area, Storage Units for Rent, On-Site Laundry, a Dog Park, and More
- Current Ownership Recently Invested Significant Capital into Interior and Exterior Upgrades
Exclusively Listed By
Financing By
Listing Price: $3,275,000
Investment Highlights
- Stabilized Asset at a 6.57% Current CAP Rate
- By Increasing Rents to Recently Achieved Highs at Property, New Owner Can Get Over a 7% CAP Rate Within the First Few Months of Ownership
- Within a Quick 10 Minute Drive of All of the Amenities Located at the Water Street Plaza in Downtown Henderson
- The Palms Apartments is Well-Suited to Provide Investors with Strong Returns from Day 1 and Increased Returns within the First 90 Days
- Community Amenities Include Community Patio Area, Storage Units for Rent, On-Site Laundry, a Dog Park, and More
- Current Ownership Recently Invested Significant Capital into Interior and Exterior Upgrades
Investment Overview
Marcus & Millichap, as the exclusive listing group, is proud to offer the opportunity to acquire The Palms Apartments, a 26-unit multifamily investment opportunity located near Downtown Henderson, Nevada. The Palms Apartments, which are spread across 3 adjacent lots totaling 1.08 acres, have a diverse unit mix, including studio, one-bedroom, and two-bedroom floor designs. In addition, the building’s single-story design, abundant parking, and private patios in some units make it appealing to potential tenants. Current ownership recently invested significant capital into interior and exterior improvements. Fresh paint, new vinyl flooring, ceiling fans, worktops, and drought-resistant landscaping are among the exterior improvements. Fresh paint, new pavement, awnings, and landscaping are among the interior improvements. The Palms Apartments benefit from being close to Henderson’s well-known Water Street District and Interstate 515 to the east and to the north, respectively. The Galleria at Sunset and its neighboring major retail malls are less than 2 miles from the property, giving locals easy access to a wide range of dining, entertainment, and shopping opportunities. The Palms Apartments are perfectly positioned to offer investors substantial returns and value increase over the course of a long investment horizon due to its prime Henderson location, broad unit mix, and attractive single story structure.
Exclusively Listed By
Financing By
