119 W New York Ave
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119 W New York Ave
5 Unit Apartment Building $875,000 ($175,000/Unit) 6.36% Cap Rate Las Vegas, NV 89102
Investment Highlights
- Arts District
- Near Stratosphere Tower
- Ready to occupy
- Fenced and Secure
- Near the new Top Golf Downtown
Executive Summary
Recently upgraded and remolded ready for an investor to take over. This property is vacant and doesn't have tenants. the Seller would like to sell it without tenants. This gives your investor several different opportunities to lease this property.
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$60,600
|
$23.87
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$60,600
|
$23.87
|
| Taxes |
$1,150
|
$0.45
|
| Operating Expenses |
$3,800
|
$1.50
|
| Total Expenses |
$4,950
|
$1.95
|
| Net Operating Income |
$55,650
|
$21.92
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $60,600 |
| Annual Per SF | $23.87 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $60,600 |
| Annual Per SF | $23.87 |
| Taxes | |
|---|---|
| Annual | $1,150 |
| Annual Per SF | $0.45 |
| Operating Expenses | |
|---|---|
| Annual | $3,800 |
| Annual Per SF | $1.50 |
| Total Expenses | |
|---|---|
| Annual | $4,950 |
| Annual Per SF | $1.95 |
| Net Operating Income | |
|---|---|
| Annual | $55,650 |
| Annual Per SF | $21.92 |
Property Facts
| Price | $875,000 | Apartment Style | Garden |
| Price Per Unit | $175,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.36% | Building Size | 2,539 SF |
| Gross Rent Multiplier | 15.8 | No. Stories | 1 |
| No. Units | 5 | Year Built/Renovated | 1953/2024 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $875,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 6.36% |
| Gross Rent Multiplier | 15.8 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,539 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1953/2024 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Refrigerator
- Oven
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $900.00 | 351 |
| 3+2 | 1 | $1,450 | 1,135 |
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zoning
| Zoning Code | R-4 (Multifamily, in the future it could be rebuilt with more units. more units next door.) |
| R-4 (Multifamily, in the future it could be rebuilt with more units. more units next door.) |
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119 W New York Ave
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