529 North Cir Las Vegas, NV 89119
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 529 North Cir
- Year built
- 1963
- Property type
- Commercial real estate
Description
This four-unit apartment building, located at 529 North Circle in Las Vegas, Nevada, presents a compelling value-add opportunity. Built in 1963, the property boasts a Class C designation and offers a compelling pro-forma cap rate of 6.58% with a pro-forma NOI of $39,500. The asking price is $600,000, translating to $150,000 per unit. Each of the four units features a two-bedroom, one-bathroom floor plan. Currently fully leased and generating immediate cash flow, this property is ideally situated near the Las Vegas Strip, the Sphere, the University of Nevada, Las Vegas, Harry Reid International Airport, and the Las Vegas Convention Center. This central location provides exceptional access to shopping, hospitality, and entertainment. The property's strong tenant occupancy and prime location offer significant potential for rental increases through future improvements, making it an attractive investment for those seeking a value-add opportunity in a high-demand market. The zip code is 89119. This is a cash-flowing investment opportunity with the potential for significant returns.
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
- -115.1510497
- Latitude
- 36.1196278
