For Sale
$799,900

2225 Jones BlvdLas Vegas, NV 89108

Strong CAP Rate, Modern Upgrades

Overview

Added:
Dec 11, 2024
Days on market:
116
This well-maintained fourplex in Las Vegas, NV, presents a compelling investment opportunity. Built in 1984 and renovated in 2022, the property boasts 3,976 square feet and features four spacious units, each with two bedrooms, two bathrooms, a separate dining room, upgraded flooring, a brick fireplace, and a private laundry room with washer/dryer. Security features include storage closets with secure doors and a Ring security system. Exterior amenities include gated entries, a rear parking lot, and a large walled side yard. The property sits on a 7,405 sq ft lot and offers 8 parking spaces. Currently operating at 100% occupancy, with rents ranging from $1,120 to $1,500 per month, the property generates a Net Operating Income (NOI) of $47,500, resulting in a 5.94% cap rate and a pro-forma cap rate of 6.57%. The asking price is $799,900, or $199,975 per unit. The property is zoned MF RES 4 UNITS. FOURPLEX and is ideally located in the desirable northwest submarket adjacent to Summerlin. This stabilized, residential rental investment offers both immediate returns and long-term value. The property is classified as Class B and is suitable for a 1031 exchange. Financial information includes a pro-forma NOI of $52,585.

Highlights

  • Fourplex located in Northwest Summerlin submarket.
  • 3,976 square foot building constructed in 1984.
  • Each of the four units features two bedrooms, two baths, spacious entryway, brick fireplace, private laundry with W/D, upgraded flooring, and storage closets with security doors.
  • Gated entry, rear parking, large walled side yard, and Ring security system.
  • Professional management in place; current rents range from $1,120 to $1,500, yielding a 6% CAP rate.

Property Details for 2225 Jones Blvd

Property type
Apartment buildings
Square Feet
3,976 SF
Class
B
Year Built/Renovated
1984/2022
Buildings
1
Stories
2
Units
4

Location Insight

City
Las Vegas
County
Clark
State
Nevada
Latitude
36.199931607401
Longitude
-115.22317339498
2225 Jones Blvd, Las Vegas, Nevada

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2225 Jones Blvd
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