1165 Sierra Vista Drive, Las Vegas, NV 89169
- $1,310,000
- 4,002
- SqFt
- List Price
- $1,310,000
- Status
- ACTIVE
- MLS#
- 2801639
- Living Area
- 4,002
- Lot Size
- 6,970
Property Description
H-1 ZONING!! Exceptional opportunity to acquire a fully occupied 4-plex at 1165 Sierra Vista Drive, offering immediate, stable cash flow with all tenants participating in the Section 8 program, providing dependable rental income. The property generates an impressive Net Operating Income (NOI) of $82,723, representing approximately a 6.3% capitalization rate based on the current list price. This well-maintained asset has been updated and is in excellent condition, including all new HVAC/air conditioning units, helping minimize future capital expenditures. Residents also enjoy access to a shared swimming pool and a shared coin-operated laundry facility, creating additional income potential. Best of all, there is no HOA, keeping operating costs lower and maximizing investor returns. A key feature that sets this property apart is its highly desirable H-1 (Limited Resort & Apartment) zoning. The adjacent 4-plex at 1153 Sierra Vista Drive is also available for purchase and is similarly zoned H-1. Each property may be purchased individually or together. For investors seeking a larger portfolio, purchasing both buildings creates an attractive investment with a combined capitalization rate of approximately 6.4% while increasing economies of scale and management efficiency. Adding to the opportunity, the adjacent H-1 zoned parcel is also available for sale. A developer could acquire all three properties, creating a unique assemblage for future hospitality, motel, hotel, or other compatible redevelopment, subject to applicable governmental approvals.
Additional Information
- Subdivision
- Maryland Gardens
- Zip
- 89169
- Elementary School 3-5
- Living Area
- 4,002
- Flooring
- Tile
- Lot Size
- 6,970
- Acres
- 0.16
- Property Condition
- Good Condition
- Exterior Features
- Private Yard
- Heating
- Central, Electric
- Cooling
- Central Air
- Construction
- Block
- Year Built
- 1963
- Bldg Desc
- Fourplex
- Heating
- Central, Electric
- Cooling
- Central Air
- Appliances
- Oven, Range, Refrigerator
- Sewer
- Public Sewer
- Community Features
- Pool
- Annual Taxes
- $1,836
Mortgage Calculator
Courtesy of Mark Anthony A. Posner with Signature Real Estate Group.
LVR MLS deems information reliable but not guaranteed.
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