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Desert Aire Apartments 1076-1112 Sierra Vista Dr 32 Unit Apartment Building $5,440,000 ($170,000/Unit) 5.58% Cap Rate Las Vegas, NV 89169
INVESTMENT HIGHLIGHTS
- Significant Value-Add and Rent Growth Potential
- Walking Distance to the Convention Center and a Short Drive to the Strip
- Located in One of the Fastest-Growing Metro Economies in the U.S.
- Spacious 2- and 3-Bedroom Units
- Two-Story Garden-Style Construction
- Strong Occupancy and Proven Rental Demand
EXECUTIVE SUMMARY
The Mogharebi Group is pleased to present the Desert Aire Apartments, a well-maintained apartment community ideally located just minutes from the world-famous Las Vegas Strip and the Las Vegas Convention Center. Spanning four parcels with four two-story buildings, this rare offering combines strong in-place performance with exceptional long-term upside in one of the nation’s most dynamic and resilient rental markets. The property’s proximity to major employment centers, world-class entertainment, and ongoing redevelopment activity makes it an attractive investment opportunity for both private and institutional investors.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$501,000
|
$18.45
|
| Other Income |
$44,189
|
$1.63
|
| Vacancy Loss |
$111,546
|
$4.11
|
| Effective Gross Income |
$433,643
|
$15.97
|
| Taxes |
$14,465
|
$0.53
|
| Operating Expenses |
$115,121
|
$4.24
|
| Total Expenses |
$129,586
|
$4.77
|
| Net Operating Income |
$304,057
|
$11.20
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $501,000 |
| Annual Per SF | $18.45 |
| Other Income | |
|---|---|
| Annual | $44,189 |
| Annual Per SF | $1.63 |
| Vacancy Loss | |
|---|---|
| Annual | $111,546 |
| Annual Per SF | $4.11 |
| Effective Gross Income | |
|---|---|
| Annual | $433,643 |
| Annual Per SF | $15.97 |
| Taxes | |
|---|---|
| Annual | $14,465 |
| Annual Per SF | $0.53 |
| Operating Expenses | |
|---|---|
| Annual | $115,121 |
| Annual Per SF | $4.24 |
| Total Expenses | |
|---|---|
| Annual | $129,586 |
| Annual Per SF | $4.77 |
| Net Operating Income | |
|---|---|
| Annual | $304,057 |
| Annual Per SF | $11.20 |
PROPERTY FACTS
| Price | $5,440,000 | Apartment Style | Garden |
| Price Per Unit | $170,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.87 AC |
| Cap Rate | 5.58% | Building Size | 27,150 SF |
| Gross Rent Multiplier | 11.71 | No. Stories | 2 |
| No. Units | 32 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | H-1, County | ||
| Price | $5,440,000 |
| Price Per Unit | $170,000 |
| Sale Type | Investment |
| Cap Rate | 5.58% |
| Gross Rent Multiplier | 11.71 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.87 AC |
| Building Size | 27,150 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | H-1, County |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $750.00 | 705 |
| 2+1 | 15 | $1,200 | 979 |
| 2+2 | 4 | $1,250 | 1,002 |
| 3+2 | 12 | $1,500 | 1,223 |
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $500,762 | |
| Land Assessment | $201,600 | Annual Taxes | $14,465 ($0.53/SF) |
| Improvements Assessment | $299,162 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$201,600
Improvements Assessment
$299,162
Total Assessment
$500,762
Annual Taxes
$14,465 ($0.53/SF)
Tax Year
2025
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Desert Aire Apartments | 1076-1112 Sierra Vista Dr
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