1843 Jefferson StNorth Las Vegas, NV 89030

Property Details for 1843 Jefferson St

Year built

1979

Lot size

0.23 AC

Property size (Sq ft)

4,284 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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

Location Insight

City

North Las Vegas

County

Clark

State

Nevada

Latitude

36.1937

Longitude

-115.126

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