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2215 Stewart Ave 6 Unit Apartment Building $989,000 ($164,833/Unit) 6.15% Cap Rate Las Vegas, NV 89101
Investment Highlights
- Value-Add Opportunity
- Located Minutes From Downtown Las Vegas & Fremont District
- Strong In-Place Income With Immediate Cash Flow
- All Spacious Two-Bedroom / One-Bathroom Floorplans
- Easy Access to Major Employment Hubs, Retail, & Transit
- On-Site Laundry
Executive Summary
The 2215 Stewart Avenue Apartments is a well-located 6-unit apartment building built in 1978, situated in the sought-after Downtown Las Vegas submarket. The property features a desirable unit mix of all two-bedroom / one-bathroom units, appealing to a broad tenant base.
The asset includes on-site laundry, providing added convenience for tenants and supporting consistent occupancy. Its proximity to major employment hubs, retail corridors, and public transportation further strengthens rental demand.
With strong in-place income and a central location, the property presents an attractive opportunity for investors seeking stable cash flow with upside potential through rental growth and targeted improvements.
The asset includes on-site laundry, providing added convenience for tenants and supporting consistent occupancy. Its proximity to major employment hubs, retail corridors, and public transportation further strengthens rental demand.
With strong in-place income and a central location, the property presents an attractive opportunity for investors seeking stable cash flow with upside potential through rental growth and targeted improvements.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $989,000 | Building Class | C |
| Price Per Unit | $164,833 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 5,270 SF |
| Cap Rate | 6.15% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.67/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R3, Las Vegas | ||
| Price | $989,000 |
| Price Per Unit | $164,833 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 5,270 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1978 |
| Parking Ratio | 1.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Las Vegas |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,375 | 800 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $142,795 | |
| Land Assessment | $72,975 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $69,820 | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$72,975
Improvements Assessment
$69,820
Total Assessment
$142,795
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
Contacts
-
Anthony Marinello -
Jason Dittenber -
Montana Giesbrecht -
Josh McDougall -
ABI Multifamily
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2215 Stewart Ave
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