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2201 James Bilbray 2201 James Bilbray Dr 4 Unit Apartment Building $830,000 ($207,500/Unit) 5.74% Cap Rate Las Vegas, NV 89108
INVESTMENT HIGHLIGHTS
- Turnkey Asset – Built in 1998 and well-maintained, minimizing upfront capital expenditure.
- Attractive Returns – Proforma cap rate of 5.74%, offering both solid yield and potential upside.
- Community Amenities – Residents benefit from access to a pool with water features, enhancing retention and rental demand.
- Premier Location – Situated in Northwest Las Vegas near Summerlin, one of the valley’s most desirable and high-growth submarkets.
- Strong Unit Mix – Four spacious 2-bed/2-bath units, each 960 sq. ft., with in-unit washer/dryer for tenant convenience.
- Low Management Burden – HOA covers water, trash, and sewer, simplifying operations and reducing owner responsibility.
EXECUTIVE SUMMARY
2201 James Bilbray is a Class A fourplex investment in northwest Las Vegas near Summerlin. Built in 1998, it offers four 2-bed/2-bath units (960 SF each) with in-unit laundry, living rooms, and dining areas. The property is fully occupied, with tenant-paid power/gas and HOA-covered water, trash, and sewer. The community features palm-lined streets, stucco homes, and a community pool with water features. Ideally located minutes from Whole Foods, Boca Park, and Mountain View Hospital, it combines tenant convenience with strong rental demand. With a 5.74% proforma cap rate, this turnkey asset provides stability and upside in one of Las Vegas’s most sought-after submarkets.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $830,000 | Apartment Style | Garden |
| Price Per Unit | $207,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 5.74% | Building Size | 3,976 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1998 |
| Zoning | R-PD15 - Residential Planned Development - 15 Unit Per Acre (R-PD15) | ||
| Price | $830,000 |
| Price Per Unit | $207,500 |
| Sale Type | Investment |
| Cap Rate | 5.74% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 3,976 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1998 |
| Zoning | R-PD15 - Residential Planned Development - 15 Unit Per Acre (R-PD15) |
AMENITIES
UNIT AMENITIES
- Storage Space
- Washer/Dryer
- Family Room
- Patio
SITE AMENITIES
- Pool
- Spa
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 4 | $1,148 | 960 |
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PROPERTY TAXES
| Parcel Number | 138-23-124-071 | Improvements Assessment | $113,274 |
| Land Assessment | $57,400 | Total Assessment | $170,674 |
PROPERTY TAXES
Parcel Number
138-23-124-071
Land Assessment
$57,400
Improvements Assessment
$113,274
Total Assessment
$170,674
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2201 James Bilbray | 2201 James Bilbray Dr
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