1400 E Mesquite Ave - Apartments FOR SALE


Las Vegas, NV 89101- Downtown Las Vegas
$1,400,000 USD
702-860-7087
1400 E Mesquite Ave, Las Vegas, NV for Sale
$1,400,000 USD
Apartments - FOR SALE
1/10
null | 5.14% Cap Rate

1400 E Mesquite Ave
Las Vegas, NV 89101
Downtown Las Vegas


OVERVIEW

1400 E. Mesquite Avenue offers investors the opportunity to acquire an eight-unit multifamily property near Downtown Las Vegas. Built in 1978, the property consists of eight spacious two-bedroom, one-bathroom apartments,730 square feet per unit, with an estimated total building area of 5,848 square meters. Several units have reportedly received interior improvements, including updated cabinetry, paint, plumbing fixtures, kitchen appliances, and bathroom finishes. Additional property features include individual storage areas, an on-site coin-operated laundry facility, air conditioning, and a fully fenced perimeter. An archived commercial listing indicates that the roof was replaced in 2017. The property is located east of Downtown Las Vegas, with convenient access to Fremont Street, US-95, Interstate 15, employment centers, public transportation, shopping, schools, hospitals, and cultural attractions. Its central infill location and practical two-bedroom floor plans support steady rental demand and provide potential for continued rent growth. Investment Highlights Ice All units reportedly configured with two bedrooms and one bathroom Approximat Approximately 5,848 square feet of total building area Approximately 0.30-acre parcel Constructed in 1978 Roof reportedly replaced in 2017 Already Individual On-site coin-operated laundry Fully fenced property Current advertised rent of approximately $1,000 per month for select units Potential gross scheduled rent of approximately $96,000 annually if all eight units rent for $1,000 per month Center Value-add opportunity through continued renovations, improved operations, and market-based rent adjustments Market Excellent opportunity to acquire an eight-unit apartment property minutes from Downtown Las Vegas. The property features highly marketable two-bedroom floor plans, on-site laundry, individual storage, a fenced perimeter, and several recently improved units. With select units advertised around $1,000 per month, the property offers immediate income together with potential upside through lease stabilization, continued renovations, expense management, and future rent growth. Ideally positioned for an investor seeking an attainable multifamily asset in a central Las Vegas infill location

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$233 USD /SF

# OF UNITS

8

PRICE/UNIT

$175,000

CAP RATE

5.14%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mesquite Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

L:R-3

APN/PARCEL ID

139-35-111-169

ASK ABOUT THIS PROPERTY

Edward OrasiKeller Williams RealtyMore Info
702-860-7087

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Edward OrasiKeller Williams RealtyMore Info
702-860-7087

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.