4150 Solteros St Las Vegas, NV 89103
- Commercial real estate
- 3,420 SF
Current Use by Public Records
- Commercial real estate
Property Details for 4150 Solteros St
- Year built
- 1981
- Property size
- 3,420 SF
- Property type
- Commercial real estate
- APN
- 163-24-510-094
Description
This exceptional value-add opportunity presents a four-unit apartment building located at 4150 Solteros St, Las Vegas, NV 89103. The property, built in 1981 and renovated in 2021, offers 3,420 square feet of net rentable space on an 8,276 square foot lot. Currently boasting 100% occupancy (as of July 3, 2023), the property generates a current NOI of $4,200, with a pro-forma NOI projected at $5,250. The asking price is $790,000, representing a price per square foot of $230.99 and a price per unit of $197,500. The property features eight parking spaces and is zoned R-4. Financial highlights include a current cap rate of 0.53% and a pro-forma cap rate of 0.66%. The land value is $20.30 per square foot. This two-story Class B building presents a compelling investment opportunity in a prime Las Vegas location, offering significant potential for increased profitability through further value-add strategies. The property's strong occupancy rate and recent renovations provide a solid foundation for future growth. The Clark County APN is 163-24-510-094. This offering is suitable for a 1031 exchange.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Las Vegas
- County
- Clark
- State
- Nevada
- Longitude
- -115.2146439
- Latitude
- 36.1141009
