4217 Middlesex Ave Las Vegas, NV 89110
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 4217 Middlesex Ave
- Year built
- 1983
- Property type
- Commercial real estate
Description
This 4-unit apartment building, located at 4217 Middlesex Ave, Las Vegas, NV 89110, presents a compelling value-add opportunity. Built in 1983, the property features four two-bedroom, one-bathroom units, currently fully leased and generating immediate cash flow. The asking price is $625,000, representing a price per unit of $156,250. The current Net Operating Income (NOI) is $30,250, yielding a 4.84% cap rate. However, a pro-forma NOI of $43,400 projects a 6.94% cap rate, suggesting significant potential for increased profitability through renovations or rent increases. The property benefits from its convenient location, close to shopping, dining, banking, the Desert Pines Golf Course, and the Fremont Street Experience, making it attractive to tenants. This is a strong investment opportunity in a submarket showing high demand for this type of property. The property is priced to sell and ready for immediate occupancy. All tenants are current on their rent. This is a turnkey investment ready for a new owner.
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
- -115.0835011
- Latitude
- 36.1819041
