1701 N Rancho Dr - Apartments FOR SALE


Las Vegas, NV 89106- Twin Lakes
$5,225,000 USD
949-230-8342
1701 N Rancho Dr, Las Vegas, NV for Sale
$5,225,000 USD
Apartments - FOR SALE
1/19
null | 6.6% Cap Rate

1701 N Rancho Dr
Las Vegas, NV 89106
Twin Lakes


HIGHLIGHTS

  • 30 Multi-Family Units with Studios & 2 Bedroom Floor Plans
  • Significant Exterior & Interior Renovations, with Opportunity for Continued Improvements
  • Located in an Emerging Las Vegas Submarket
  • Within 0.5-Mile of a Major 73 Acre Mixed-Use Redevelopment
  • Easy Access to US Route 95B & Interstate 15

OVERVIEW

The Holden Group of Marcus & Millichap, as the exclusive listing group, is pleased to present CORA Apartments, a 30- unit multi-family investment opportunity located in an emerging submarket of Las Vegas, NV. Situated on a 1.07-acre lot, the property includes two-story buildings with a diverse mix of studios and 2 bedroom floor plans. The property is located within less than half a mile from a multiple major mixed-use and single-family housing developments. This includes a 73-acre redevelopment to the north of the property. The plans for this mixed-use redevelopment include retail, dining, an outdoor entertainment venue, a hotel, and housing. The project is envisioned to be a “family-oriented walkable community”, the first of its kind in the area. Current ownership has invested in capital expenditures across the property over the past year, with significant exterior and interior upgrades. The exterior renovations include a complete repainting of the building with new signage and landscaping. The units feature modern upgrades such as vinyl plank flooring, white cabinets with white quartz countertops, and modern appliances. CORA Apartments present a fantastic value-add opportunity with strong rent growth potential through continued renovations. Its proximity to the redevelopment site makes it an appealing choice for tenants seeking a comfortable and convenient living space in Las Vegas. Investors looking for a strong return on investment will find the property highly desirable due to its prime location and appealing unit mix. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent for a copy of the Offering Memorandum.*

FOR SALE DETAILS

PRICE

$5,225,000 USD

PRICE/SF

$243 USD /SF

# OF UNITS

30

PRICE/UNIT

$174,167

CAP RATE

6.6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CORA Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.07 AC

LAND SF

46,609 SF

ZONING

R-4

APN/PARCEL ID

139-19-812-058

ASK ABOUT THIS PROPERTY

Drew HoldenMarcus & MillichapMore Info
949-230-8342

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Drew HoldenMarcus & MillichapMore Info
949-230-8342

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