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319 S 10th St 6 Unit Apartment Building $1,500,000 ($250,000/Unit) 6.04% Cap Rate Las Vegas, NV 89101
Investment Highlights
- Situated in the heart of Downtown Las Vegas
- A functional unit mix appealing to a wide range of tenants
- One of the city's most dynamic and rapidly evolving neighborhoods
- Substantially renovated in 2024
Executive Summary
319 S 10th Street is a two-story multifamily property featuring six apartment units and one leased ? 1 bedroom annex. Built in 1951 and substantially renovated in 2024, the property is in excellent condition with modern interiors, updated systems, and quality finishes throughout. The building offers a functional unit mix appealing to a wide range of tenants, with on-site parking, individual HVAC units, and separately metered utilities to support efficient operations.
Ideally situated in the heart of Downtown Las Vegas, one of the city's most dynamic and rapidly evolving neighborhoods. The property benefits from excellent walkability, strong tenant demand, and close proximity to major employment centers, entertainment venues, and public transit options. With billions in public and private investment transforming the area, Downtown Las Vegas continues to attract residents, businesses, and visitors-driving long-term growth and increasing property values.
Ideally situated in the heart of Downtown Las Vegas, one of the city's most dynamic and rapidly evolving neighborhoods. The property benefits from excellent walkability, strong tenant demand, and close proximity to major employment centers, entertainment venues, and public transit options. With billions in public and private investment transforming the area, Downtown Las Vegas continues to attract residents, businesses, and visitors-driving long-term growth and increasing property values.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$122,400
|
$15.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$12,240
|
$1.51
|
| Effective Gross Income |
$110,160
|
$13.61
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$19,560
|
$2.42
|
| Net Operating Income |
$90,600
|
$11.20
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $122,400 |
| Annual Per SF | $15.13 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $12,240 |
| Annual Per SF | $1.51 |
| Effective Gross Income | |
|---|---|
| Annual | $110,160 |
| Annual Per SF | $13.61 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $19,560 |
| Annual Per SF | $2.42 |
| Net Operating Income | |
|---|---|
| Annual | $90,600 |
| Annual Per SF | $11.20 |
Property Facts
| Price | $1,500,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 8,092 SF |
| Cap Rate | 6.04% | Average Occupancy | 0% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1951/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.62/1,000 SF |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | R-4 - MFR 5+ Units Low Rise (1-3 Story). Multiple Bldg Styles (Duplex, SFR, 4-plex combinations) | ||
| Price | $1,500,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 8,092 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built/Renovated | 1951/2024 |
| Parking Ratio | 0.62/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-4 - MFR 5+ Units Low Rise (1-3 Story). Multiple Bldg Styles (Duplex, SFR, 4-plex combinations) |
Amenities
- Smoke Detector
Unit Amenities
- Microwave
- Ceiling Fans
- Refrigerator
- Oven
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 3 | - | - |
| 1+1 | 4 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 139-34-712-058 | Improvements Assessment | $68,840 (2026) |
| Land Assessment | $48,125 (2026) | Total Assessment | $116,965 (2026) |
Property Taxes
Parcel Number
139-34-712-058
Land Assessment
$48,125 (2026)
Improvements Assessment
$68,840 (2026)
Total Assessment
$116,965 (2026)
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