305 11Th St Las Vegas, NV 89101
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 305 11Th St
- Property type
- Commercial real estate
- APN
- 139-35-211-034,035,306
Description
This exceptional 12-unit apartment complex presents a compelling investment opportunity in the heart of Las Vegas, Nevada. Located at 305 N 11th St, and encompassing addresses 305-311 N. 11th Street and 1025 Stewart Ave, this property sits on approximately half an acre and includes three buildings. The complex boasts a 95% occupancy rate, generating a strong Net Operating Income (NOI) of $96,417, resulting in a 5.07% capitalization rate. The asking price is $1,900,000. Each unit averages approximately 618 square feet, with a mix of eleven one-bedroom, one-bathroom units and one two-bedroom, one-bathroom unit. The property underwent renovations in 2020 and benefits from its location within walking distance of downtown Las Vegas and convenient access to public transportation. The permitted zoning is T4 T5. The property features on-site parking. Long-term tenants contribute to the stability of this investment, with potential for future rent increases. This is a Class C multifamily property with APN 139-35-211-034,035,306. There is no ground lease. New development is underway in the surrounding area. This is a rare opportunity to acquire a well-maintained, high-performing apartment complex in a rapidly growing urban location.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.1323812
- Latitude
- 36.169021
