1920 Lirio Way - Apartments FOR SALE


Las Vegas, NV 89108- Michael Way
$799,999 USD
702-408-2289
1920 Lirio Way, Las Vegas, NV for Sale
$799,999 USD
Apartments - FOR SALE
1/13
null | 6.92% Cap Rate

1920 Lirio Way
Las Vegas, NV 89108
Michael Way


HIGHLIGHTS

  • 100% Occupied Fourplex: Stable income with four fully leased 2-bed, 2-bath units.
  • Desirable Amenities: Each unit includes in-unit laundry, fireplace, and private storage—features that drive tenant demand.
  • Solid Construction (1984): Well-built and well-maintained structure with minimal capital improvement needs.
  • Turnkey Investment: No deferred maintenance; immediate cash flow from day one.
  • Prime Northwest Location: Strong tenant base and rental upside due to desirable neighborhood.
  • Appreciation Potential: Located in a growing submarket with continued demand for quality rentals.

OVERVIEW

The Hyde Real Estate group is pleased to present the Lirio Apartments. Seize a strong cash-flowing investment in the high-demand Northwest Las Vegas submarket. This fully occupied fourplex, constructed in 1984, features four spacious 2-bedroom, 2-bath units, each thoughtfully equipped with in-unit laundry, private storage, and a fireplace—ideal for attracting long-term tenants. The property is currently generating $6,005/month in rental income, with upside potential through market rent adjustments. At full market rents of $6,600/month, investors can expect the CAP rate to improve from 6.92% to a healthy 7.32%. With minimal adjustments needed to achieve proforma performance, this asset presents a compelling opportunity for value optimization. Located near Summerlin, tenants enjoy excellent access to shopping, dining, entertainment, and major transit routes—ensuring high occupancy and consistent demand. Professionally managed, this is a hands-off, income-generating asset with long-term appreciation potential in one of Las Vegas’s most stable rental corridors.

FOR SALE DETAILS

PRICE

$799,999 USD

PRICE/SF

$208 USD /SF

# OF UNITS

4

PRICE/UNIT

$200,000

CAP RATE

6.92%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1984

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

R3, City/Las Vegas

APN/PARCEL ID

138-23-710-005

ASK ABOUT THIS PROPERTY

Catherine HydeHyde Real Estate Group at Simply VegasMore Info
702-408-2289

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Catherine HydeHyde Real Estate Group at Simply VegasMore Info
702-408-2289

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