4217 Middlesex AveLas Vegas, NV 89110
- Residential income properties
Property Details for 4217 Middlesex Ave
- Year built
- 1983
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This 4-unit apartment building, located at 4217 Middlesex Ave, Las Vegas, NV 89110, presents a compelling value-add opportunity. Built in 1983, the property features four two-bedroom, one-bathroom units, currently fully leased and generating immediate cash flow. The asking price is $625,000, representing a price per unit of $156,250. The current Net Operating Income (NOI) is $30,250, yielding a 4.84% cap rate. However, a pro-forma NOI of $43,400 projects a 6.94% cap rate, suggesting significant potential for increased profitability through renovations or rent increases. The property benefits from its convenient location, close to shopping, dining, banking, the Desert Pines Golf Course, and the Fremont Street Experience, making it attractive to tenants. This is a strong investment opportunity in a submarket showing high demand for this type of property. The property is priced to sell and ready for immediate occupancy. All tenants are current on their rent. This is a turnkey investment ready for a new owner.
Location Insight
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Latitude
- 36.1819
- Longitude
- -115.084
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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