242 Boston Ave. West - Apartments FOR SALE


Las Vegas, NV 89102- Meadows Village
$1,250,000 USD
702-289-0831
242 Boston Ave. West, Las Vegas, NV for Sale
$1,250,000 USD
Apartments - FOR SALE
1/16
null | 7.02% Cap Rate

242 Boston Ave. West
Las Vegas, NV 89102
Meadows Village


HIGHLIGHTS

  • Stable Cash Flow, additional upside through rent optimization.
  • Strong rental demand, 10 units are fully occupied. Only 1 vacant unit undergoing renovation.
  • Value-Add potential.
  • Low Operating Costs – no homeowners association, low property taxes, each unit is separately metered for electric with owner-paid water, sewer and tra
  • Strategic Location, Downtown Las Vegas, Las Vegas Strip, UNLV, Sunrise Hospital, etc.

OVERVIEW

We are pleased to present an exceptional investment opportunity in the heart of Downtown Las Vegas: a multi-family property located at 242 West Boston Avenue. This eleven-unit apartment complex offers a unique blend of steady cash flow and significant value-add potential. The building consists of ten one-bedroom, one-bathroom units, each approximately 500 square feet, and one larger manager’s unit featuring three bedrooms and two bathrooms. The property sits on a 0.25-acre lot and is fully fenced, providing ample parking space for tenants. Although the property has some deferred maintenance, it represents an outstanding opportunity for investors to enhance the property’s value through strategic renovations and improvements. There is great potential to increase rental income and overall returns. This property’s prime location in downtown Las Vegas ensures strong tenant demand and long-term appreciation potential

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$210 USD /SF

# OF UNITS

11

PRICE/UNIT

$113,636

CAP RATE

7.02%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

R4, Las Vegas

APN/PARCEL ID

162-04-710-089

ASK ABOUT THIS PROPERTY

Martin FajardoInnova Realty & ManagementMore Info
702-289-0831

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Martin FajardoInnova Realty & ManagementMore Info
702-289-0831

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