Recently Constructed Multifamily
51 East Texas Avenue Henderson, NV 89015
51 East Texas Avenue, Henderson, NV, 89015
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For Sale
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Three recently constructed multifamily communities totaling 17 units, completed in 2022 and 2024.
Property Size12,493 SF
Price / SF$294.97
Days on Market8
Property Features for 51 East Texas Avenue
General Information
- Standard status
- Active
- Size
- 12,493 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2024
Listing agency
Marcus & Millichap - Las Vegas
(949) 419-3200
Listed by
Drew Holden · License #S.0189703
Source
Crexi
Added: Jul 16 Updated: Jul 23 at 5:17AM Checked: Jul 23 at 5:17AM
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 Marcus & Millichap - Las Vegas
Investment Insights
Based on property information with market context.
The Crown Portfolio offers three recently constructed multifamily communities totaling 17 units. The properties feature one- and two-bedroom residences with contemporary finishes, private in-unit laundry, and low-maintenance construction. Completion dates are 2022 and 2024.
The communities are located in Downtown Henderson and are described as within walking distance of the Water Street District. The three properties are also positioned within less than one-half mile of one another, providing operational proximity while maintaining the independence of each smaller multifamily asset. The portfolio is presented with connectivity to Interstate 11 and Interstate 215, supporting convenient access to Downtown Las Vegas, the Las Vegas Strip, Harry Reid International Airport, and the Henderson Executive Airport.
Drive by only; do not walk the property or disturb residents. Please contact the Listing Agent for a copy of the Offering Memorandum.
The communities are located in Downtown Henderson and are described as within walking distance of the Water Street District. The three properties are also positioned within less than one-half mile of one another, providing operational proximity while maintaining the independence of each smaller multifamily asset. The portfolio is presented with connectivity to Interstate 11 and Interstate 215, supporting convenient access to Downtown Las Vegas, the Las Vegas Strip, Harry Reid International Airport, and the Henderson Executive Airport.
Drive by only; do not walk the property or disturb residents. Please contact the Listing Agent for a copy of the Offering Memorandum.
Key Highlights
- Three recently constructed multifamily communities totaling 17 units
- Completed in 2022 and 2024
- One- and two‑bedroom residences
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 | $254.9k | $20.40 |
| − Vacancy | −$13.3k | −$1.06 |
| EGI | $241.6k | $19.34 |
| − OpEx | −$108.7k | −$8.70 |
| NOI | $132.9k | $10.64 |
12,493 SF · lease $20.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.90M
$1.66M – $2.21M
NOI $132,883 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.38M
$3.83M – $5.11M
NOI $306,346 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Three recently constructed multifamily communities totaling 17 units, completed in 2022 and 2024.
Where is this apartment building located?
The property is located at 51 East Texas Avenue Henderson, NV.
What is the asking price?
The asking price for this property is $3,685,000.
What are key features of this property?
This property features: Three recently constructed multifamily communities totaling 17 units; Completed in 2022 and 2024; One- and two‑bedroom residences
