CORA Apartments 1701 N Rancho Dr 30 Unit Apartment Building $5,225,000 ($174,167/Unit) 6.60% Cap Rate Las Vegas, NV 89106

The Holden Group of Marcus & Millichap, as the exclusive listing group, is pleased to present CORA Apartments, a 30- unit multi-family investment opportunity located in an emerging submarket of Las Vegas, NV. Situated on a 1.07-acre lot, the property includes two-story buildings with a diverse mix of studios and 2 bedroom floor plans.
The property is located within less than half a mile from a multiple major mixed-use and single-family housing developments. This includes a 73-acre redevelopment to the north of the property. The plans for this mixed-use redevelopment include retail, dining, an outdoor entertainment venue, a hotel, and housing. The project is envisioned to be a “family-oriented walkable community”, the first of its kind in the area.
Current ownership has invested in capital expenditures across the property over the past year, with significant exterior and interior upgrades. The exterior renovations include a complete repainting of the building with new signage and landscaping. The units feature modern upgrades such as vinyl plank flooring, white cabinets with white quartz countertops, and modern appliances.
CORA Apartments present a fantastic value-add opportunity with strong rent growth potential through continued renovations. Its proximity to the redevelopment site makes it an appealing choice for tenants seeking a comfortable and convenient living space in Las Vegas. Investors looking for a strong return on investment will find the property highly desirable due to its prime location and appealing unit mix.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent for a copy of the Offering Memorandum.*