For Sale
$625,000

4217 Middlesex AveLas Vegas, NV 89110

4-Unit Apartment Building, Cash Flowing

Overview

Added:
Dec 11, 2024
Days on market:
117
This 4-unit apartment building, located at 4217 Middlesex Ave, Las Vegas, NV 89110, presents a compelling value-add opportunity. Built in 1983, the property features four two-bedroom, one-bathroom units, currently fully leased and generating immediate cash flow. The asking price is $625,000, representing a price per unit of $156,250. The current Net Operating Income (NOI) is $30,250, yielding a 4.84% cap rate. However, a pro-forma NOI of $43,400 projects a 6.94% cap rate, suggesting significant potential for increased profitability through renovations or rent increases. The property benefits from its convenient location, close to shopping, dining, banking, the Desert Pines Golf Course, and the Fremont Street Experience, making it attractive to tenants. This is a strong investment opportunity in a submarket showing high demand for this type of property. The property is priced to sell and ready for immediate occupancy. All tenants are current on their rent. This is a turnkey investment ready for a new owner.

Highlights

  • Value-add opportunity in a prime Las Vegas location.
  • $625,000 asking price; priced to sell.
  • Currently generating immediate cash flow; all units occupied.
  • Four 2-bedroom, 1-bathroom units.
  • Potential for increased NOI through renovations and rent increases.
  • Excellent location near Downtown, Fremont Street Experience, and amenities.

Property Details for 4217 Middlesex Ave

Property type
Apartment buildings
Class
C
Year Built
1983
Units
4

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.1819041
Longitude
-115.0835011
4217 Middlesex Ave, Las Vegas, Nevada

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4217 Middlesex Ave
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