5361 Indian River DrLas Vegas, NV 89103

Property Details for 5361 Indian River Dr

Year built

1982

Property size (Sq ft)

2,553 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of three meticulously maintained condominiums in desirable Las Vegas locations. The portfolio comprises three units totaling 2,553 square feet, boasting a current 100% occupancy rate as of February 7, 2024. Built in 1982 and renovated in 2021, these Class B properties offer a compelling blend of established rental income and future appreciation potential. The current Net Operating Income (NOI) stands at $32,244, with a pro-forma NOI projected at $35,186, resulting in a current cap rate of 5.70% and a pro-forma cap rate of 6.22%. The asking price for the entire portfolio is $566,000, translating to a price per square foot of $221.70 and a price per unit of $188,667. Two of the units are situated in the Southwest Valley's Spring Valley neighborhood, offering resort-style amenities including a tennis court, fitness center, pool, and spa. Their convenient location provides easy access to schools, shopping, restaurants, and the Las Vegas Strip, with proximity to major highways and Allegiant Stadium. The third unit enjoys a prime location near the Wynn, Convention Center, MSG Sphere, and High Roller, also with convenient access to Allegiant Stadium. This unit's community boasts a heated pool, spa, clubhouse, gym, tennis courts, putting green, and extensive park-like grounds. The properties are zoned 21.170.C - SFR UNIT IN MULTI UNIT BLDG. CONDO OWNERSHIP, and the APNs are 163-24-612-816, 163-24-611-296, and 162-15-215-073. This stabilized investment is ideal for 1031 exchange opportunities.

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.1101

Longitude

-115.208

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].