2128 Bassler St North Las Vegas, NV 89030
- Commercial real estate
- 2,960 SF
Current Use by Public Records
- Commercial real estate
Property Details for 2128 Bassler St
- Year built
- 1972
- Property size
- 2,960 SF
- Property type
- Commercial real estate
- APN
- 139-24-210-156
Description
This meticulously maintained, 4-unit apartment building in North Las Vegas, Nevada presents a compelling investment opportunity. Built in 1972 and renovated in 2023, the property boasts 2,960 square feet on a 6,970 square foot lot, zoned R-3. The building features two stories and includes four units, each with approximately 740 square feet of rentable space, and one additional parking pad. Currently operating at 100% occupancy (as of March 18, 2024), the property generates a strong net operating income (NOI) of $48,141, resulting in a 7.76% capitalization rate. Pro forma NOI is projected at $60,285, yielding a 9.72% cap rate. Recent improvements include refreshed interiors and exterior touch-ups, including fresh paint and updated HVAC units in 2022. Additional income potential exists from a separate laundry area and tenant storage. The property's location in North Las Vegas offers a vibrant market with potential for long-term growth. The asking price is $620,000, or $155,000 per unit, and the property is suitable for a 1031 exchange. The property is classified as a Class B multifamily investment, and is currently professionally managed.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.11126135692
- Latitude
- 36.198409923826
