For Sale
$910,000

1843 Jefferson StNorth Las Vegas, NV 89030

7-Unit Apartment Building, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
119
This 7-unit apartment building, located at 1843 Jefferson St in North Las Vegas, NV, presents a compelling value-add investment opportunity. The property boasts 4,284 square feet on a 0.23-acre lot, featuring a mix of two-bedroom units and one non-conforming studio. Built in 1979, the two-story building includes partially renovated interiors with modern vinyl plank flooring. Amenities include a gated courtyard and ample surface parking. The property benefits from its proximity to the $260 million NLV Gateway redevelopment project, creating significant potential for rental growth. Its strategic location near major freeways (I-11 and I-15), North Las Vegas City Hall, and North Vista Hospital enhances its appeal to tenants and investors alike. The current NOI is $54,598, with a pro-forma NOI of $65,211, yielding a 6.00% cap rate and a pro-forma cap rate of 7.17%. The asking price is $910,000, representing a price per unit of $130,000 and a price per square foot of $212.42. The property is zoned R-A/R-2 and has a Clark County APN of 139-23-311-125. This fee-simple ownership opportunity offers investors a chance to capitalize on the revitalization of Downtown North Las Vegas. Drive-by only

Highlights

  • 7-unit multifamily property with a mix of two-bedroom units and one non-conforming studio.
  • Partially renovated interiors featuring modern vinyl plank flooring.
  • Gated courtyard and ample surface parking.
  • Excellent location near the NLV Gateway redevelopment project, I-11, I-15, City Hall, and North Vista Hospital.
  • $910,000 asking price; $130,000 per unit; $212.42 per square foot; $54,598 current NOI; $65,211 pro-forma NOI; 6.00% cap rate; 7.17% pro-forma cap rate.

Property Details for 1843 Jefferson St

Property type
Apartment buildings
Square Feet
4,284 SF
Class
C
Year Built
1979
Buildings
1
Stories
2
Lot Size (sq. ft)
10,019 SF
Units
7

Location Insight

City
North Las Vegas
County
Clark
State
Nevada
Latitude
36.193719670608
Longitude
-115.12642511754
1843 Jefferson St, North Las Vegas, Nevada

FAQs

What type of property is this?
Apartment building - 7-Unit Apartment Building, Value-Add Opportunity
Where is the apartment building located?
The property is located at 1843 Jefferson St North Las Vegas, NV.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: 7-unit multifamily property with a mix of two-bedroom units and one non-conforming studio.; Partially renovated interiors featuring modern vinyl plank flooring.; Gated courtyard and ample surface parking.
How can I contact the broker?
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1843 Jefferson St
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