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3017-3021 E Carey Ave 12 Unit Apartment Building $1,200,000 ($100,000/Unit) 6.69% Cap Rate North Las Vegas, NV 89030
INVESTMENT HIGHLIGHTS
- 12 Multi-Family Units with Studio & 1 Bedroom Floor Plans
- Spacious Corner Lot Within Walking Distance to Convenience Store
- Conveniently Access to Major Freeways, Including Interstate 11 & 15
- Physical & Economic Value-Add Opportunity
- Within Close Proximity of Major NLV Village Mixed-Use Redevelopment Project
EXECUTIVE SUMMARY
The Holden Group of Marcus & Millichap, as the exclusive listing group, is pleased to present the opportunity to acquire 3017 East Carey Avenue, a 12-unit multifamily investment property located near Downtown North Las Vegas. Situated on a spacious corner lot, this asset features a desirable mix of studio and one-bedroom floor plans, ideal for tenants seeking affordability and convenience.
The property offers strong physical and economic value-add potential, with an opportunity to modernize exterior lighting, fencing, and paint, as well as reposition interior units through strategic renovations. Current rents are below market, providing significant upside for investors to increase cash flow through targeted upgrades and professional property management.
3017 East Carey Avenue benefits from a central location with convenient access to Interstates 11 and 15 and is positioned within walking distance of a neighborhood convenience store. The property is located near several community-serving amenities, including the Boys & Girls Club, and a new fire station currently under development at East Carey Avenue and North Carroll Street. Additionally, the property lies near the transformative North Las Vegas Village redevelopment project, a major mixed-use initiative expected to bring new retail, medical, and residential activity to the area.
With its low price per unit, strong tenant demand, and long-term growth potential, 3017 East Carey Avenue presents an excellent opportunity for both first-time and seasoned investors looking to acquire a high-upside asset in a rapidly improving North Las Vegas submarket.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent for a copy of the Offering Memorandum.*
The property offers strong physical and economic value-add potential, with an opportunity to modernize exterior lighting, fencing, and paint, as well as reposition interior units through strategic renovations. Current rents are below market, providing significant upside for investors to increase cash flow through targeted upgrades and professional property management.
3017 East Carey Avenue benefits from a central location with convenient access to Interstates 11 and 15 and is positioned within walking distance of a neighborhood convenience store. The property is located near several community-serving amenities, including the Boys & Girls Club, and a new fire station currently under development at East Carey Avenue and North Carroll Street. Additionally, the property lies near the transformative North Las Vegas Village redevelopment project, a major mixed-use initiative expected to bring new retail, medical, and residential activity to the area.
With its low price per unit, strong tenant demand, and long-term growth potential, 3017 East Carey Avenue presents an excellent opportunity for both first-time and seasoned investors looking to acquire a high-upside asset in a rapidly improving North Las Vegas submarket.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent for a copy of the Offering Memorandum.*
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$125,280
|
$25.02
|
| Other Income |
$4,320
|
$0.86
|
| Vacancy Loss |
$8,143
|
$1.63
|
| Effective Gross Income |
$121,457
|
$24.25
|
| Taxes |
$4,440
|
$0.89
|
| Operating Expenses |
$36,712
|
$7.33
|
| Total Expenses |
$41,152
|
$8.22
|
| Net Operating Income |
$80,305
|
$16.04
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $125,280 |
| Annual Per SF | $25.02 |
| Other Income | |
|---|---|
| Annual | $4,320 |
| Annual Per SF | $0.86 |
| Vacancy Loss | |
|---|---|
| Annual | $8,143 |
| Annual Per SF | $1.63 |
| Effective Gross Income | |
|---|---|
| Annual | $121,457 |
| Annual Per SF | $24.25 |
| Taxes | |
|---|---|
| Annual | $4,440 |
| Annual Per SF | $0.89 |
| Operating Expenses | |
|---|---|
| Annual | $36,712 |
| Annual Per SF | $7.33 |
| Total Expenses | |
|---|---|
| Annual | $41,152 |
| Annual Per SF | $8.22 |
| Net Operating Income | |
|---|---|
| Annual | $80,305 |
| Annual Per SF | $16.04 |
PROPERTY FACTS
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 6.69% | Building Size | 5,008 SF |
| Gross Rent Multiplier | 9.58 | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.6/1,000 SF |
| Zoning | R-4, North Las Vegas - R-4 High-Density Multi-Family Residential | ||
| Price | $1,200,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 6.69% |
| Gross Rent Multiplier | 9.58 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 5,008 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.6/1,000 SF |
| Zoning | R-4, North Las Vegas - R-4 High-Density Multi-Family Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Tile Floors
- Refrigerator
- Deck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | 352 |
| 1+1 | 8 | - | 450 |
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PROPERTY TAXES
| Parcel Number | 139-24-510-245 | Total Assessment | $127,632 |
| Land Assessment | $63,000 | Annual Taxes | $4,440 ($0.89/SF) |
| Improvements Assessment | $64,632 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
139-24-510-245
Land Assessment
$63,000
Improvements Assessment
$64,632
Total Assessment
$127,632
Annual Taxes
$4,440 ($0.89/SF)
Tax Year
2025
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3017-3021 E Carey Ave
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