This Multifamily Property is Off-Market.

651 E.TWAIN ST.
Las Vegas, NV 89109 ·

36 Units · Multifamily For Sale

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TWAIN PALMS

Price N/A Cap Rate 9.80%
No. Units 36 Gross Rent Multiplier 6.30
Building Size 18,600 SF Occupancy 60%
Property Type Multifamily No. Stories 2
Property Sub-type Garden/Low-Rise Year Built 1975
Property Use Type Investment Lot Size 0.40 AC
Distressed Yes
Listing ID: 15935496 Date Created: 10/09/2008 Last Updated: 09/12/2009

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.

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

Research

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

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