Multifamily

225 Flower Ave

225 Flower Ave, Las Vegas, NV 89101

Listing Price: $3,900,000

Cap Rate
5.86%
Number of Units
40
Occupancy
97.5%
Price/Unit
$97,500
Price/Gross SF
$102.72
Gross SF
37,968

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Flower Apartments, a 40-unit multifamily investment property located at 225 Flower Street in Las Vegas, Nevada. Built in 1963 and renovated in 2019, the property consists exclusively of two-bedroom units and offers amenities including private patios and balconies, uncovered parking, and updated modernized lighting fixtures and appliances. Current ownership has invested significant capital in both exterior and interior renovations. Exterior renovations include new desert landscaping, signage, exterior paint, mailboxes, and more. Nearly forty percent of the units have been completely upgraded with renovations including fully updated kitchens, new cabinets, stainless steel appliances, wood vinyl flooring, bathroom vanities, bathrooms, and more (see page 16 for more information). Flower Apartments is situated within walking distance to retail centers with tenants including 7-Eleven, Cardenas Supermarket, Marianas Supermarket, and La Bonita Supermarket, which provides residents with convenient access to everyday needs. Furthermore, the property is just under 1.5 miles away from Fremont Street, a five-block mall that attracts thousands annually to its unique dining and entertainment venues. Given its superb location and strong demographics, Flower Apartments are well suited to provide investors with strong returns and value appreciation over the long term investment horizon

Investment Highlights

  • A 40-unit multifamily investment property in Las Vegas, the premier housing market in Nevada
  • Consists of 100 percent two-bedroom units
  • Amenities include private patios and balconies, uncovered parking, and upscale interior renovations

Exclusively Listed By

Listing Price: $3,900,000

Cap Rate
5.86%
Number of Units
40
Occupancy
97.5%
Price/Unit
$97,500
Price/Gross SF
$102.72
Gross SF
37,968

Investment Highlights

  • A 40-unit multifamily investment property in Las Vegas, the premier housing market in Nevada
  • Consists of 100 percent two-bedroom units
  • Amenities include private patios and balconies, uncovered parking, and upscale interior renovations

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Flower Apartments, a 40-unit multifamily investment property located at 225 Flower Street in Las Vegas, Nevada. Built in 1963 and renovated in 2019, the property consists exclusively of two-bedroom units and offers amenities including private patios and balconies, uncovered parking, and updated modernized lighting fixtures and appliances. Current ownership has invested significant capital in both exterior and interior renovations. Exterior renovations include new desert landscaping, signage, exterior paint, mailboxes, and more. Nearly forty percent of the units have been completely upgraded with renovations including fully updated kitchens, new cabinets, stainless steel appliances, wood vinyl flooring, bathroom vanities, bathrooms, and more (see page 16 for more information). Flower Apartments is situated within walking distance to retail centers with tenants including 7-Eleven, Cardenas Supermarket, Marianas Supermarket, and La Bonita Supermarket, which provides residents with convenient access to everyday needs. Furthermore, the property is just under 1.5 miles away from Fremont Street, a five-block mall that attracts thousands annually to its unique dining and entertainment venues. Given its superb location and strong demographics, Flower Apartments are well suited to provide investors with strong returns and value appreciation over the long term investment horizon

Exclusively Listed By

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