Downtown 5 Plex

1725 Stewart Ave Las Vegas, NV 89101

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$899,999
Last Verified:
Jun 24, 2022

Highlights

  • Downtown Sub Market
  • 100% Occupied
  • Continued Area Growth
  • Close To Major Transit
  • Easily Self Managed

Description

1725 Stewart is a 5 plex located in the downtown Las Vegas submarket 2 block north of Fremont St. The subject property has a desirable unit mix consisting of 5 two-bedroom one bathroom unit floor plans. 1725 Stewart has enjoyed a 98% historical occupancy and is currently 100% occupied with tenants on annual leases. There is a value add component to this offering if new ownership is looking to add value to this asset.

1725 Stewart is located exceptionally well providing easy access to both i15 & i95 Freeways, schools of all grade levels, downtown and city wide employment, major public transit as well as shopping and dinning. Rising rental rates and huge influx of immigration to the state has positioned Las Vegas as one of the best Multifamily markets to invest in.

Current gross monthly income is at $6800 and ownership covers all utilities for the tenants. New ownership has the ability to increase rents and lower operating costs by no longer covering some tenants power monthly. Current in place CAP Rate is 6% on existing income making this one of the strongest CAP rates being offered in the multifamily asset class.

For more detailed info on this property such as financials and current rent roll please visit the documents vault at the dedicated property website www.1725Stewart.com. If you would like to discuss placing an offer on this property or to discuss this asset further please contact Paul Macaluso president of Multifamily Investments at Simply Vegas today.

Located on Stewart Ave with the major cross streets being Bruce and Stewart to the west and Stewart and Eastern to the east.


Year Built: 1979
Building Size: 4114sq ft
Lot Size: 0.19 acres


Documents

1725 Stewart Brochure

Map of 1725 Stewart Ave, Las Vegas, NV, 89101

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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