1701 N Rancho Dr - Apartments FOR SALE


Las Vegas, NV 89106- Twin Lakes
$4,900,000 USD
949-230-8342
1701 N Rancho Dr, Las Vegas, NV for Sale
$4,900,000 USD
Apartments - FOR SALE
1/13
null | 6.1% Cap Rate

1701 N Rancho Dr
Las Vegas, NV 89106
Twin Lakes


HIGHLIGHTS

  • Recent Renovations: Significant interior and exterior upgrades position the property for continued rent growth and improved tenant retention.
  • Redevelopment Proximity: Located within 0.5 miles of a 73-acre mixed-use project expected to drive long-term demand and area revitalization.
  • Emerging Submarket: Positioned in a rapidly improving submarket benefiting from ongoing residential, retail, and infrastructure development.
  • Value-Add Upside: Opportunity to increase rents through continued unit improvements, operational efficiencies, and market repositioning.

OVERVIEW

The Holden Group of Marcus & Millichap, as the exclusive listing group, is pleased to present CORA Apartments, a 30-unit multifamily investment opportunity located in an emerging submarket of Las Vegas, positioned to benefit from ongoing residential and commercial development activity. The property has recently undergone significant capital improvements, including exterior enhancements and modernized unit interiors, creating a strong foundation for continued rent growth and operational upside. Its location along a primary corridor provides direct access to major employment centers, Downtown Las Vegas, and key transportation routes, enhancing long-term tenant demand and accessibility. Strategically situated within 0.5 miles of the planned Hylo Park redevelopment, a 73-acre mixed-use project featuring residential, retail, hospitality, and entertainment components, CORA Apartments stands to benefit from a transformative influx of new amenities and economic activity. This redevelopment is expected to significantly improve neighborhood connectivity, increase employment opportunities, and elevate the overall appeal of the surrounding area. As the submarket continues to evolve, the property is well-positioned to capture demand from tenants seeking quality housing near new lifestyle and employment hubs. With a proven renovation program already implemented and additional value-add potential remaining, CORA Apartments offers investors a clear path to enhanced cash flow and long-term appreciation. Continued interior upgrades and operational efficiencies present an opportunity to further increase rental income and align the asset with market rents. Combined with strong demand drivers, improving submarket fundamentals, and proximity to large-scale redevelopment, the property represents a compelling investment opportunity in one of Las Vegas’ most actively improving corridors. *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

$4,900,000 USD

PRICE/SF

$229 USD /SF

# OF UNITS

30

PRICE/UNIT

$163,333

CAP RATE

6.1%

% LEASED

95%

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

33

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 Notice.