Three-Property Multifamily
For Sale
$1,325,000
51 E Texas Ave, Henderson, NV 89015
Three newly built multifamily communities totaling 17 units with one- and two-bedroom residences and in-unit laundry.
Property Size4,530 SF
Days on Market95
Property Features for 51 E Texas Ave
General Information
Standard status
Active
Size
4,530 SF
Property subtype
Multifamily
Occupancy
97%
Additional Details
Cap Rate
5.32%
Highway Access
Yes
Multifamily Units
17
Amenities
private in-unit laundry
Modern Construction: Built between 2022 and 2024, the portfolio offers contemporary construction with modern interiors and minimal deferred maintenance.
Limited Supply: The portfolio represents the only three multifamily developments consisting of 5 to 25 units completed in the City of Henderson in more than 15 years.
Urban Lifestyle: Located within walking distance of Henderson's Water Street District, residents enjoy convenient access to dining, entertainment, retail, and community events.
Portfolio Scale: Seventeen units across three neighboring properties provide operational efficiencies while maintaining the flexibility of smaller multifamily assets.
Building Details
Building Size
4,530 SF
Units
6
Listing Agency:
Las Vegas Office
(702) 215-7100
Listed By:
Drew Holden · License #NV: S.0189703
(702) 215-7118
Source:
Marcusmillichap
Added: Jul 19
Changed: Oct 21
Last Checked: Oct 20 at 5:03PM
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 Las Vegas Office
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Investment Insights
Based on property information with market context.
Marcus & Millichap presents the Crown Portfolio, a three-property multifamily offering consisting of 17 units across recently constructed communities. The properties were completed in 2022 and 2024 and feature one- and two-bedroom residences with in-unit private laundry, contemporary finishes, and low-maintenance construction.
The communities are located in Downtown Henderson within walking distance of the Water Street District, and are positioned less than one-half mile apart, creating potential operational efficiencies while keeping the assets in smaller multifamily configurations. The portfolio also provides connectivity to Interstate 11 and Interstate 215, offering convenient access to Downtown Las Vegas, the Las Vegas Strip, Harry Reid International Airport, and Henderson Executive Airport.
Collectively, the Crown Portfolio represents an opportunity to acquire multiple modern multifamily developments in close proximity, with the combined unit count totaling 17.
The communities are located in Downtown Henderson within walking distance of the Water Street District, and are positioned less than one-half mile apart, creating potential operational efficiencies while keeping the assets in smaller multifamily configurations. The portfolio also provides connectivity to Interstate 11 and Interstate 215, offering convenient access to Downtown Las Vegas, the Las Vegas Strip, Harry Reid International Airport, and Henderson Executive Airport.
Collectively, the Crown Portfolio represents an opportunity to acquire multiple modern multifamily developments in close proximity, with the combined unit count totaling 17.
Key Highlights
- Crown Portfolio: three newly constructed multifamily communities totaling 17 units
- Unit mix includes one- and two‑bedroom residences with private in‑unit laundry
- Construction completed in 2022 and 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,184
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$963,680
$963.7K
Cap Rate 7%
$688,343
$688.3K
Cap Rate 9%
$535,378
$535.4K
Market Conditions
NOI Build-Up for 4,530 SF
Gross rent
$92.4K $20.40/SF
− Vacancy
−$4.8K −$1.06/SF
EGI
$87.6K $19.34/SF
− OpEx
−$39.4K −$8.70/SF
NOI
$48.2K $10.64/SF
Area
ZIP 89015
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%
$963,680
Cap Rate 7%
$688,343
Cap Rate 9%
$535,378
Alternative Uses
Best Use
Apartment 5plus
$688.3K
$602.3K – $803.1K
NOI $48,184 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $111,082 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
17
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,478
Businesses Nearby
Explore this area
Business Placement
Demographics for 89015, NV
41,203
Population
16,812
Households
2.5
Avg Household Size
41
Median Age
20%
College-Educated
89%
High-School Grad
37.3 sq mi
ZIP Area
1,105
Density / Sq Mi
$71,300
Median Household Income
$41,509
Median Earnings
$1,324
Median Rent
$373,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Three newly built multifamily communities totaling 17 units with one- and two-bedroom residences and in-unit laundry.
Where is this apartment building located?
The property is located at 51 E Texas Ave Henderson, NV.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Crown Portfolio: three newly constructed multifamily communities totaling 17 units; Unit mix includes one- and two‑bedroom residences with private in‑unit laundry; Construction completed in 2022 and 2024
