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1707 Santa Paula Dr 4 Unit Apartment Building $648,400 ($162,100/Unit) 9.15% Cap Rate Las Vegas, NV 89104
INVESTMENT HIGHLIGHTS
- one block to las Vegas BL
EXECUTIVE SUMMARY
Just one block from Las Vegas Blvd, this recently remodeled property is in a highly desirable location—ideal for service industry employees or short-term rentals. With minimal operating expenses, it offers both convenience and excellent investment potential. All units are 2 bedroom 1 bath and rent for $1,395 (below market). Tenant receives free laundry, should be changed to coin laundry.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$57,360
|
$14.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$57,360
|
$14.48
|
| Taxes |
$1,619
|
$0.41
|
| Operating Expenses |
$185
|
$0.05
|
| Total Expenses |
$1,804
|
$0.46
|
| Net Operating Income |
$55,556
|
$14.03
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $57,360 |
| Annual Per SF | $14.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $57,360 |
| Annual Per SF | $14.48 |
| Taxes | |
|---|---|
| Annual | $1,619 |
| Annual Per SF | $0.41 |
| Operating Expenses | |
|---|---|
| Annual | $185 |
| Annual Per SF | $0.05 |
| Total Expenses | |
|---|---|
| Annual | $1,804 |
| Annual Per SF | $0.46 |
| Net Operating Income | |
|---|---|
| Annual | $55,556 |
| Annual Per SF | $14.03 |
PROPERTY FACTS
| Price | $648,400 | Apartment Style | Low-Rise |
| Price Per Unit | $162,100 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 9.15% | Building Size | 3,960 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 95% |
| Gross Rent Multiplier | 10.49 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1951/2023 |
| Property Type | Multifamily | Parking Ratio | 2.02/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4, Las Vegas - Zoning is R4, 4 approved units. | ||
| Price | $648,400 |
| Price Per Unit | $162,100 |
| Sale Type | Investment |
| Cap Rate | 9.15% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.49 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 3,960 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1951/2023 |
| Parking Ratio | 2.02/1,000 SF |
| Zoning | R4, Las Vegas - Zoning is R4, 4 approved units. |
AMENITIES
UNIT AMENITIES
- Balcony
- Microwave
- Storage Space
- Washer/Dryer
- Tile Floors
- Hardwood Floors
- Refrigerator
- Wi-Fi
- Dining Room
- Family Room
- Garden
- Patio
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $1,495 | 898 |
1 1
Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 162-03-313-002 | Total Assessment | $82,072 |
| Land Assessment | $46,900 | Annual Taxes | $1,619 ($0.41/SF) |
| Improvements Assessment | $35,172 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
162-03-313-002
Land Assessment
$46,900
Improvements Assessment
$35,172
Total Assessment
$82,072
Annual Taxes
$1,619 ($0.41/SF)
Tax Year
2025
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1707 Santa Paula Dr
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