Historical Multifamily Sale Listing - TWAIN PALMS

Multifamily For Sale

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TWAIN PALMS

651 E.TWAIN ST., Las Vegas, NV 89109

N/A

36 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
36
Building Size:
18,600 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Distressed:
Yes
Cap Rate:
9.80%
Gross Rent Multiplier:
6.30
Occupancy:
60%
No. Stories:
2
Year Built:
1975
Lot Size:
0.40 AC
Listing ID
15935496
Last Updated
over 1 year ago

Highlights

  • PAY $125 K AND TAKE OVER THE LOAN
  • 60 DAYS ESCROW AND 14 DAYS DUE DILIGENCE
  • OUT OF STATE OWNER NEEDS TO SELL
  • SUBJECT TO APPROVAL OF LENDERS OF SHORT SALE.
  • HUGE INCOME POTENTIAL IF ITS OPERATED AS A WEEKLY APARTMENTS.
  • OWNER PAID $2.1 MIL IN 2006 AND SPENT $75,000 IN CAPITAL IMPROVEMENTS

Description

SHORT SALE.SUBJECT TO APPROVAL BY THE LENDER. REHABED 36 UNITS IN A GOOD LOCATION . SHORT WALK FROM THE STRIP AND THE WYNN RESORT. GREAT RENTAL AREA. GATED BUILDING CONSISTING :
4) 2+2 AND 32) 1+1(JUNIOR ONE BEDROOM).
NEWER STOVE AND FRIDGE IN MOST UNITS.OUT OF STATE OWNER.HIGH VACANCY DUE TO OUT OF STATE OWNER.OWNER PAID $2,100,000 IN 2006 AND SPENT CLOSE TO $100K IN IMPROVEMENTS.HUGE UPSIDE IF ITS OPERATED AS A WEEKLY RENTAL. NEED HANDS ON MANAGEMT.

BETWEEN SWENSON AND PARADISE. WELL TRAVELED STREET. WALK TO THE WYNN RESORT AND THE STRIP. NEXT TO A BUSY STRIP CENTER.

Map of 651 E.TWAIN ST., Las Vegas, NV 89109 (Clark County)

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