Investment Overview

Marcus & Millichap as the exclusive listing agent, is pleased to present The Eighty8 Apartments as a unique and rare opportunity to acquire 88 multifamily units in the vibrant downtown submarket of Las Vegas, NV. Located just a few blocks from the iconic Fremont Street Experience and other major economic drivers, the community is positioned on three hard corners of Carson Ave, Bridger Ave and Maryland Pkwy that also includes an “Opportunity Zone” overlay. Located within one of Las Vegas’s most desirable neighborhoods, this investment property offers residents convenient access to a variety of boutique retail outlets, unique dining establishments, and live entertainment venues. Noteworthy attractions within walking distance include Mothership Coffee, Downtown Container Park, and the soon-to-be-renovated Huntridge Theater. Current ownership has infused significant capital expenditure totaling over $1.2M in the property over the past 24 months, with interior upgrades exceeding $8K per unit and exterior renovations surpassing $500K, including new roofs for all 15 buildings. The Eighty8 features a remarkable Walk Score of 90 (considered a “Walker’s Paradise”) and boasts lush mature landscaping, complemented by appealing floor plans ranging from 405 sq. ft. studios to 536 sq. ft. one-bedroom, one-bathroom units. The Eighty8 represents an excellent Value-Add opportunity which offers the potential for substantial rental growth through the continuation of its comprehensive renovation program. Its strategic location and recent enhancements make it an attractive choice for tenants seeking comfortable and convenient living in downtown Las Vegas. Investors seeking a profitable return on investment and a Value-Add asset will find this property highly desirable, thanks to its prime location and recent upgrades.