Tropicana Valley

06-30-2022
07-11-2022

5286 E Tropicana Ave, Las Vegas, NV 89122

  • All 2 Bedroom Units with Large Private Patios
  • New Roofs in 2021 & Security Systems Throughout Property
  • Two On-Site Laundry Facilities & Two Community Pools
  • Picnic Area with BBQ & Tenant Storage Units Available
  • Pet Friendly & Lush Garden Style Landscaping

Property Description

Tropicana Valley Apartments is a value add opportunity that features 4 single story buildings consisting of all 2 bedroom apartment homes averaging 830 SF. Resident amenities include full kitchens with refrigerator, microwaves and ovens, private patio, common area with BBQs and picnic tables. The Community sits on 1.26 acres located on the east side of Las Vegas within minutes of major employment opportunities, fantastic outdoor adventures, terrific shopping, amazing restaurants, and a quiet family-friendly atmosphere. This location provides residents with easy access to the I-95 Freeway and Boulder Highway which is a major arterial way used to access several sectors of the city within minutes.
In March of 2022, Las Vegas Rank #1 for employment growth and #6 for rent growth. Two bedroom Units in the Paradise Valley Submarkets have an average rental rate of $1,518 which ranks 12th out of 22 Las Vegas submarket as well as a 95.2% occupancy rate. Investors have the opportunity to stabilize the asset through capital improvements and leverage the strong rental demand in Las Vegas.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 10,000,000
No. of Units
48
Year Built
1962
Building Size
39,860 Sq ft
Lot Size
142005.6 acres
No. of Stories
2
Opportunity Zone
No
Price per unit
$ 208,333
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