718 Wilson Ave Las Vegas, NV 89106
- Apartment buildings
- 2,288 SF
Current Use by Public Records
- Helicopter tour Las vegas / Sightseeing Tour Agency
Property Details for 718 Wilson Ave
- Year built
- 1963
- Property size
- 2,288 SF
- Property type
- Apartment buildings
Description
This fully occupied, 1963-built fourplex (2,288 sq ft) in Las Vegas, NV (APN 139-27-310-059) is listed at $625,000 ($156,250/unit). Boasting a 5.99% cap rate (6.62% pro-forma), it offers a strong return on investment. The property, situated on a 6,970 sq ft lot, underwent renovations in 2023, including new windows, a water heater, and central AC units. Currently at 100% occupancy (April 1, 2023), it generates a NOI of $37,408 ($41,377 pro-forma). Low property taxes ($918 annually) further enhance profitability. Located in the Historic Westside, benefiting from the Vision 2045 Downtown Master Plan, this property offers additional income potential through laundry facilities and storage rentals. The area is undergoing significant improvements, including underpass enhancements, a new BRT line, a mixed-use transit village, and historic preservation efforts. This prime location near downtown Las Vegas provides easy freeway access and a gated courtyard. The property is zoned T4 Neighborhood (T4-N) and is ideal for a 1031 exchange.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.151
- Latitude
- 36.1782
