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3150 Luke Werner Ave - Bradford Place Town Homes 31,361 SF Specialty Building Offered at $6,990,000 at a 4.48% Cap Rate in Las Vegas, NV 89102
INVESTMENT HIGHLIGHTS
- Property is located close to the 1-15 Freeway, a few minute drive to the Las Vegas Strip, China Town. Walking Distance to Middle and High School
EXECUTIVE SUMMARY
The listing consists of 2 bedroom, 3 bedroom, and 4 bedroom townhomes. Currently all are rented. This is a courtesy listing. Seller to represent themselves in the sale of this property. If buyer is represented by a realtor, buyer(s) agent to be compensated by buyer.
This property location is in a Townhome Community with a total of 171 individually deeded single family residents. The seller has 28 properties available for sale. Currently all units are rented with rent amounts from $1100.00 to $1400.00.
The townhome complex is located just west of the Famous Las Vegas Strip. They are between Sahara Avenue & Desert Inn Road. Just adjacent to the booming China Town. They are located near schools and shopping. Also, easy Interstate 1-15 access. Close to the Desert Inn arterial, the Convention Center and East side of town. Location, Location, Location. The HOA is $140.00 per unit per month. The recent capitol improvements are: New roofs both main house and the detached carport, from 2017-2020. Several streets in community have been repaved between 2016-2022. Complex was repainted in 2022. Seller and listing agent have a business/family relationship.
This property location is in a Townhome Community with a total of 171 individually deeded single family residents. The seller has 28 properties available for sale. Currently all units are rented with rent amounts from $1100.00 to $1400.00.
The townhome complex is located just west of the Famous Las Vegas Strip. They are between Sahara Avenue & Desert Inn Road. Just adjacent to the booming China Town. They are located near schools and shopping. Also, easy Interstate 1-15 access. Close to the Desert Inn arterial, the Convention Center and East side of town. Location, Location, Location. The HOA is $140.00 per unit per month. The recent capitol improvements are: New roofs both main house and the detached carport, from 2017-2020. Several streets in community have been repaved between 2016-2022. Complex was repainted in 2022. Seller and listing agent have a business/family relationship.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$388,200
|
$12.38
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$388,200
|
$12.38
|
| Taxes |
$10,890
|
$0.35
|
| Operating Expenses |
$64,447
|
$2.06
|
| Total Expenses |
$75,337
|
$2.40
|
| Net Operating Income |
$312,863
|
$9.98
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $388,200 |
| Annual Per SF | $12.38 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $388,200 |
| Annual Per SF | $12.38 |
| Taxes | |
|---|---|
| Annual | $10,890 |
| Annual Per SF | $0.35 |
| Operating Expenses | |
|---|---|
| Annual | $64,447 |
| Annual Per SF | $2.06 |
| Total Expenses | |
|---|---|
| Annual | $75,337 |
| Annual Per SF | $2.40 |
| Net Operating Income | |
|---|---|
| Annual | $312,863 |
| Annual Per SF | $9.98 |
PROPERTY FACTS
| Price | $6,990,000 | Property Subtype | Residential Income |
| Price Per SF | $222.89 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.98 AC |
| Cap Rate | 4.48% | Building Size | 31,361 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| Property Type | Specialty | Year Built | 1972 |
| Zoning | R-PD11 | ||
| Price | $6,990,000 |
| Price Per SF | $222.89 |
| Sale Type | Investment |
| Cap Rate | 4.48% |
| Sale Condition | 1031 Exchange |
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | C |
| Lot Size | 0.98 AC |
| Building Size | 31,361 SF |
| No. Stories | 2 |
| Year Built | 1972 |
| Zoning | R-PD11 |
AMENITIES
- Air Conditioning
ABOUT 3150 LUKE WERNER AVE , LAS VEGAS, NV 89102
This property consists of 28 individually deeded town-homes. The properties are: 2 Bedroom 1 Bath - 5 town-homes 1 Story with 2 car Carport 2 Bedroom 2 Bath - 2 town-homes 1 Story with 2 Car Carport 3 Bedroom 1 1/2 Bath - 15 town-homes 2 Story with 2 Car Carport 4 Bedroom 1 1/2 Bath - 6 town-homes 2 Story With 2 Car Carport Current rents are average of $1200.00 a month and can be increase to between $1400.00 to $1600.00 depending on unit size.
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Walk Score®
Very Walkable (72)
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3150 Luke Werner Ave - Bradford Place Town Homes
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