Corner Residential Income
2405 W Serene Avenue #639, Las Vegas, NV 89123
For Sale
$265,000
A private balcony provides partial views toward the Las Vegas Strip.
Property Size899 SF
Price / SF$294.77
Days on Market26
Property Features for 2405 W Serene Avenue #639
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
guard-gated
swimming pools
fitness facilities
concierge services
steam room
spa
landscaped courtyards
BBQ areas
outdoor fireplaces
Building Details
Year Built
Listing Agency:
Keller Williams Realty Las Veg
(702) 212-2222
Listed By:
Alberto Vasquez · License NV S.0077942
(702) 526-4498
Source:
Barberrealty
Added: Oct 15
Changed: Nov 9
Last Checked: Nov 9 at 6:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Las Veg
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Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath corner residence in the Boca Raton community offers 899 square feet of living area and was built in 2007. The interior includes wood-plank flooring, upgraded tile, plantation shutters, custom closet organizers, LED lighting, and newer HVAC and appliances. The kitchen has granite counters and stainless steel appliances, while both bathrooms feature Kohler fixtures. A full-size washer and dryer and a private balcony are also included.
The home faces Las Vegas Boulevard and has partial views of the Strip from the balcony. The community is guard-gated and offers swimming pools, fitness facilities, concierge service, a steam room, spa, landscaped courtyards, barbecue areas, and outdoor fireplaces. HOA dues cover water, sewer, and trash.
The home faces Las Vegas Boulevard and has partial views of the Strip from the balcony. The community is guard-gated and offers swimming pools, fitness facilities, concierge service, a steam room, spa, landscaped courtyards, barbecue areas, and outdoor fireplaces. HOA dues cover water, sewer, and trash.
Key Highlights
- 2 bedrooms and 2 bathrooms across 899 square feet
- Corner residence facing Las Vegas Boulevard with partial Strip views from a private balcony
- Built in 2007 within the guard‑gated Boca Raton community
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,562
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$191,240
$191.2K
Cap Rate 7%
$136,600
$136.6K
Cap Rate 9%
$106,244
$106.2K
Market Conditions
NOI Build-Up for 899 SF
Gross rent
$18.3K $20.40/SF
− Vacancy
−$954 −$1.06/SF
EGI
$17.4K $19.34/SF
− OpEx
−$7.8K −$8.70/SF
NOI
$9.6K $10.64/SF
Area
Las Vegas, NV
Vacancy
5.20%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$191,240
Cap Rate 7%
$136,600
Cap Rate 9%
$106,244
Alternative Uses
Best Use
Apartment 5plus
$136.6K
$119.5K – $159.4K
NOI $9,562 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$310.6K
$271.8K – $362.4K
NOI $21,745 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
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Business Placement
Demographics for 89123, NV
55,584
Population
25,246
Households
2.2
Avg Household Size
42
Median Age
32%
College-Educated
92%
High-School Grad
10.4 sq mi
ZIP Area
5,345
Density / Sq Mi
$80,992
Median Household Income
$46,838
Median Earnings
$1,641
Median Rent
$424,900
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Las Vegas, NV
Properties on Market for Residential income properties in Las Vegas
Frequently Asked Questions
What type of property is this?
Residential income property - A private balcony provides partial views toward the Las Vegas Strip.
Where is this residential income property located?
The property is located at 2405 W Serene Avenue #639 Las Vegas, NV.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2 bedrooms and 2 bathrooms across 899 square feet; Corner residence facing Las Vegas Boulevard with partial Strip views from a private balcony; Built in 2007 within the guard‑gated Boca Raton community
