215 Philadelphia ave - The Philly at 215 Development Opportunity

0.6 Acres of Residential Land Offered at $1,750,000 in Las Vegas, NV 89102

INVESTMENT HIGHLIGHTS

  • - Located in an Opportunity Zone and Redevelopment Area
  • - Fully Entitled for 87 Multifamily Units
  • - Walking distance to Las Vegas Blvd and the Arts District
  • - 0.60+/- Acres of Land
  • - Desirable R-4 Zoning
  • - Directly Behind the Strat Hotel and Casino and Atomic Golf

EXECUTIVE SUMMARY

The Philly at 215 is a 0.60+/- acre parcel of land with R-4 zoning. Nestled within a qualified opportunity zone and redevelopment area, this property is positioned for potential growth and benefits. This development opportunity is fully entitled for 87 multifamily units. Investors may take advantage of opportunity zone tax incentives, such as deferring capital gains tax, a step-up basis, and tax-free status after 10 years. Not to mention access to large opportunity zone funds, which can be found on Opportunitydb.com.

PROPERTY FACTS

Price $1,750,000
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Residential
Total Lot Size 0.60 AC
Opportunity Zone Yes

1 LOT AVAILABLE

Lot

Price $1,750,000
Price Per AC $2,916,666.67
Lot Size 0.60 AC

DESCRIPTION

Located just off the world-famous Las Vegas Strip and directly behind The STRAT Hotel and Casino and newly built Atomic Golf, The Philly at 215 is surrounded by a vast amount of employment, shopping, hospitality, and entertainment. This location has seen an incredible amount of gentrification and new development in recent years. The nearby Arts District continues to expand and has become a very popular destination for tourists and Las Vegas locals alike.

PROPERTY TAXES

ZONING

Zoning Code R4 (multiple-family residential district (high density))
  • Listing ID: 33489990

  • Date on Market: 10/11/2024

  • Last Updated:

  • Address: 215 Philadelphia ave, Las Vegas, NV 89102