1165 Sierra Vista Drive,Las Vegas, NV 89169
Las Vegas, NV 89169
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.
Details
| MLS # | 2801639 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1963 |
| Days On Site | 52 |
| Listing Provided By | Signature Real Estate Group | Mark Anthony A. Posner |
Features
| SQ Feet | 4,002 |
|---|---|
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 1 |
| Acreage | 0.16 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central, Electric |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Furnished | Unfurnished |
| Appliances | Oven, Range, Refrigerator |
Exterior
| Exterior Features | Private Yard |
|---|---|
| Roof | Flat |
| Construction Materials | Block |
Utilities
| Sewer | Public Sewer |
|---|
Other
| List Aor | Greater Las Vegas Association Of Realtors Inc |
|---|
Taxes
| Property | 1836 |
|---|
Area Information
| State | NV |
|---|---|
| County | Clark |
| City | Las Vegas |
| Zip Code | 89169 |
| Community Name | Maryland Gardens |
| Listing VS Median (in Maryland Gardens) | |
Price: $1,310,000 low | high Med: $1,310,000 sqft: 4,002 low | high Med: 4,138 $ / sqft: $327 low | high Med: $317 On site: 52 low | high Med: 52 | |
Market Activity 89169
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Learn More About This Property
| State | NV |
|---|---|
| County | Clark |
| City | Las Vegas |
| Zip Code | 89169 |
| Community Name | Maryland Gardens |
| Listing VS Median (in Maryland Gardens) | |
Price: $1,310,000 low | high Med: $1,310,000 sqft: 4,002 low | high Med: 4,138 $ / sqft: $327 low | high Med: $317 On site: 52 low | high Med: 52 | |
