2128 Bassler StNorth Las Vegas, NV 89030

Property Details for 2128 Bassler St

Year built

1972

Property size (Sq ft)

2,960 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This meticulously maintained, 4-unit apartment building in North Las Vegas, Nevada presents a compelling investment opportunity. Built in 1972 and renovated in 2023, the property boasts 2,960 square feet on a 6,970 square foot lot, zoned R-3. The building features two stories and includes four units, each with approximately 740 square feet of rentable space, and one additional parking pad. Currently operating at 100% occupancy (as of March 18, 2024), the property generates a strong net operating income (NOI) of $48,141, resulting in a 7.76% capitalization rate. Pro forma NOI is projected at $60,285, yielding a 9.72% cap rate. Recent improvements include refreshed interiors and exterior touch-ups, including fresh paint and updated HVAC units in 2022. Additional income potential exists from a separate laundry area and tenant storage. The property's location in North Las Vegas offers a vibrant market with potential for long-term growth. The asking price is $620,000, or $155,000 per unit, and the property is suitable for a 1031 exchange. The property is classified as a Class B multifamily investment, and is currently professionally managed.

Location Insight

City

North Las Vegas

County

Clark

State

Nevada

Latitude

36.1984

Longitude

-115.111

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