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Sunrise Apartments 2213 Sunrise Ave 8 Unit Apartment Building $1,200,000 ($150,000/Unit) 7.11% Cap Rate Las Vegas, NV 89101
Investment Highlights
- 4 × 3BD/2BA + 4 × 2BD/1BA
- 8.9% proforma cap rate
- Well-maintained units and building
- 7.1% current cap rate
- Long-term, month-to-month tenants
- Opportunity for rental upside and improved returns
Executive Summary
Hyde Real Estate Group is pleased to present 2213 Sunrise Avenue. This 8-unit building presents a compelling multifamily investment opportunity with an excellent unit mix of four 3-bedroom/2-bath units and four 2-bedroom/1-bath units. The property is currently operating at a 7.1% cap rate with established, long-term month-to-month tenants, providing a strong foundation for an investor seeking both stability and upside.
The well-cared-for units and building offer an attractive opportunity to optimize rents and move toward an 8.9% proforma cap rate. The diverse unit mix appeals to a broad tenant base while supporting long-term rental demand.
Conveniently located just minutes from Downtown Las Vegas and Cashman Field, the property offers easy access to employment, entertainment, dining, and major transportation corridors.
The well-cared-for units and building offer an attractive opportunity to optimize rents and move toward an 8.9% proforma cap rate. The diverse unit mix appeals to a broad tenant base while supporting long-term rental demand.
Conveniently located just minutes from Downtown Las Vegas and Cashman Field, the property offers easy access to employment, entertainment, dining, and major transportation corridors.
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Property Facts
| Price | $1,200,000 | Building Class | C |
| Price Per Unit | $150,000 | Lot Size | 0.42 AC |
| Sale Type | Investment | Building Size | 8,264 SF |
| Cap Rate | 7.11% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 0.85/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R-4 - Residential Multi Family High Density Residential | ||
| Price | $1,200,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| Cap Rate | 7.11% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 8,264 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 0.85/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-4 - Residential Multi Family High Density Residential |
Amenities
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- Courtyard
- Tenant Controlled HVAC
- Gated
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 855 |
| 3+2 | 4 | - | 1,181 |
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Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 139-35-812-009 | Improvements Assessment | $83,056 |
| Land Assessment | $56,000 | Total Assessment | $139,056 |
Property Taxes
Parcel Number
139-35-812-009
Land Assessment
$56,000
Improvements Assessment
$83,056
Total Assessment
$139,056
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