3485 Shamrock Ave Las Vegas, NV 89120
- Residential income homes
- 4,200 SF
Current Use by Public Records
- Residential income homes
Property Details for 3485 Shamrock Ave
- Year built
- 1979
- Property size
- 4,200 SF
- Property type
- Residential income homes
- APN
- 161-30-204-005
Description
This exceptional Las Vegas triplex presents a compelling value-add investment opportunity. Boasting a 6.69% current cap rate and a pro-forma cap rate of 8.00%, this property offers significant income potential. The 4,200 square foot property, built in 1979 and renovated in 2021, sits on a spacious 18,731 square foot lot in the R-1 zoned area of Clark County, zip code 89120. The property comprises three units: a single-family home and two 1-bedroom casitas, each with a separate entrance. Currently, all three units are 100% occupied with month-to-month tenants generating over $4,600 in monthly net operating income (NOI). Amenities include a pool, jacuzzi, and ample parking for 12 vehicles. While the casitas share a meter with the main house, the property is legally permitted as a single-family home with two additional units. The current tenants are willing to remain, offering flexibility for the new owner. The asking price is $695,000, translating to $187 per square foot and $42 per square foot of land value. This property offers a strong cash flow with potential for future rental increases and the flexibility for owner occupancy or lease adjustments. The seller will consider carrying a portion of the financing with a 35% down payment. This is an ideal investment for those seeking immediate income and a high return on investment in a desirable Las Vegas location.
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
- -115.099095
- Latitude
- 36.0942399
