H-1 ZONING!! Exceptional opportunity to acquire a fully occupied 4-plex at 1153 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 $84,205, representing approximately a 6.4% cap 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 1165 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 #
2801616
Listing Type
For Sale
Sub-Type
Resale
Status
Active
Year
1963
Days On Site
111
Listing Provided By
Signature Real Estate Group | Mark Anthony A. Posner
Features
SQ Feet
4,274
Story(s)
2
Units
4
Building(s)
1153
Acreage
0.17
Interior
Cooling
Central Air
Heating
Central, Electric
Heating Yes / No
Yes
Cooling Yes / No
Yes
Furnished
Unfurnished
Exterior
Roof
Tile
Construction Materials
Block
Utilities
Sewer
Public Sewer
Taxes
Tax Annual Amount
2015
Area Information
State
NV
County
Clark
City
Las Vegas
Zip Code
89169
Community Name
Maryland Gardens
Sourced by Back At You
MLS Number: 2801616
Mark Anthony A. Posner – (702) 343-9709 – markanthony@pgglv.com
Signature Real Estate Group – (702) 799-9598 – brandon@signaturenv.com
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The data relating to real estate for sale on this web site comes from the Las Vegas REALTORS® MLS. Information deemed reliable but not guaranteed. COPYRIGHT 2022 OF LAS VEGAS REALTORS® MLS. ALL RIGHTS RESERVED.
MLS Number: 2801616
Mark Anthony A. Posner – (702) 343-9709 – markanthony@pgglv.com
Signature Real Estate Group – (702) 799-9598 – brandon@signaturenv.com
