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Multifamily

Downtown Las Vegas Portfolio

437 N 14th St, Las Vegas, NV 89101

Listing Price: $2,670,000

Cap Rate
5.70%
Number of Units
24
Price/Unit
$111,250
Price/Gross SF
$134.75
Gross SF
19,814

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire the Downtown Las Vegas Portfolio, a collection of four multifamily investment properties with a total of 24 units located in Las Vegas, Nevada. Built in 1961, 1963, 1982, and 1983, the portfolio includes: 729 & 733 North 11th Street, 437 North 14th Street, 81 North 21st Street, and 1615 Stevens Street. Situated on a combined 1.11 acres, the Downtown Las Vegas Portfolio offers an attractive unit mix consisting exclusively of two-bedroom units. The portfolio offers amenities including gated access, central A/C, private balconies, uncovered parking, and on-site laundry. Downtown Las Vegas is currently experiencing a renaissance with a plethora of new developments opening throughout 2021 and into the near future. Some of the properties are located one mile from the recently sold historic Huntridge Theater. While the theater has been closed since 2004, new ownership is working to significantly modernize the property throughout 2021, with plans to re-open the theater within the next three years. Additionally, some of the properties are located just under 1 mile from Circa Resort & Casino, the first new resort and casino to open in Downtown Las Vegas since the Sundance in 1980. The average household income in Las Vegas is projected to grow by 13.88 percent to $92,141 by 2025 and median household income is projected to increase by 16.60 percent to $68,318 by 2025. Given its excellent Downtown Las Vegas location and strong demographics, the Downtown Las Vegas Portfolio is well suited to provide investors with strong returns and value appreciation over the long term investment horizon.

Investment Highlights

  • Unique opportunity to acquire four properties located in Downtown Las Vegas and Sunrise Manor
  • Consists exclusively of two-bedroom units
  • The properties offer amenities including gated access, central A/C, private balconies, uncovered parking, and on-site laundry
  • In close proximity to East Charleston Plaza and Vegas Plaza for everyday needs
  • Select properties are just over 1 mile from Fremont Street, a five-block mall with a massive LED canopy that offers numerous dining, entertainment, and retail options

Exclusively Listed By

Multifamily

Downtown Las Vegas Portfolio

Listing Price: $2,670,000

Cap Rate
5.70%
Number of Units
24
Price/Unit
$111,250
Price/Gross SF
$134.75
Gross SF
19,814

Investment Highlights

  • Unique opportunity to acquire four properties located in Downtown Las Vegas and Sunrise Manor
  • Consists exclusively of two-bedroom units
  • The properties offer amenities including gated access, central A/C, private balconies, uncovered parking, and on-site laundry
  • In close proximity to East Charleston Plaza and Vegas Plaza for everyday needs
  • Select properties are just over 1 mile from Fremont Street, a five-block mall with a massive LED canopy that offers numerous dining, entertainment, and retail options

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire the Downtown Las Vegas Portfolio, a collection of four multifamily investment properties with a total of 24 units located in Las Vegas, Nevada. Built in 1961, 1963, 1982, and 1983, the portfolio includes: 729 & 733 North 11th Street, 437 North 14th Street, 81 North 21st Street, and 1615 Stevens Street. Situated on a combined 1.11 acres, the Downtown Las Vegas Portfolio offers an attractive unit mix consisting exclusively of two-bedroom units. The portfolio offers amenities including gated access, central A/C, private balconies, uncovered parking, and on-site laundry. Downtown Las Vegas is currently experiencing a renaissance with a plethora of new developments opening throughout 2021 and into the near future. Some of the properties are located one mile from the recently sold historic Huntridge Theater. While the theater has been closed since 2004, new ownership is working to significantly modernize the property throughout 2021, with plans to re-open the theater within the next three years. Additionally, some of the properties are located just under 1 mile from Circa Resort & Casino, the first new resort and casino to open in Downtown Las Vegas since the Sundance in 1980. The average household income in Las Vegas is projected to grow by 13.88 percent to $92,141 by 2025 and median household income is projected to increase by 16.60 percent to $68,318 by 2025. Given its excellent Downtown Las Vegas location and strong demographics, the Downtown Las Vegas Portfolio is well suited to provide investors with strong returns and value appreciation over the long term investment horizon.

Exclusively Listed By

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