3909-3949 N Nellis Blvd Las Vegas, NV 89115
100-unit gated complex with renovated one- and two-bedroom layouts, in-unit washer/dryer, and community pool.
Property Features for 3909-3949 N Nellis Blvd
General Information
- Standard status
- Active
- Size
- 91,359 SF
- Lot size
- 3.61 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1983
Listing office Elite Realty Sahara
Listing date Jul 1, 2026
Source Crexi
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Investment Insights
Based on property information with market context.
The property is located in the Sunrise Manor sector of Las Vegas, noted for its proximity to shopping and nearby schools and for having Nellis frontage. The complex offers common-area amenities including a swimming pool and a barbecue area for residents.
For buyers, the listing highlights multiple exit strategies supported by how the units are configured, with each of the 100 units having its own parcel number. That structure is presented as enabling the complex to be managed as an apartment community or converted to a condominium project. The current mix of renovated one- and two-bedroom units with in-unit laundry and outdoor balcony space is designed for resident convenience across a range of household needs.
Key Highlights
- 100‑unit, gated multifamily complex on 3.61 acres with six two‑story buildings
- Mix of apartments: 17 renovated 1 bed/1 bath units and 83 2 bed/2 bath units
- Unit sizes range from 555–770 SF (1 bed/1 bath) and 906–1,005 SF (2 bed/2 bath)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.73M | $18.96 |
| − Vacancy | −$83.1k | −$0.91 |
| EGI | $1.65M | $18.05 |
| − OpEx | −$742.1k | −$8.12 |
| NOI | $907.0k | $9.93 |
