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The Residences at Bromley 5808-5900 Bromley Ave 32 Unit Apartment Building $4,500,000 ($140,625/Unit) 7.05% Cap Rate Las Vegas, NV 89107
Investment Highlights
- Price Reduction $750,000!!!
Executive Summary
Price Reduction $750,000!!!!!
The Residences at Bromley is a 32-unit garden-style community located in the highly desirable central-west submarket
of Las Vegas. The complex is in a predominantly residential area just two blocks from the 95 Freeway and
residents enjoy easy access to Meadows Mall and major economic drivers. Schools include St. Francis De Sales
and Red Rock Elementary. Mariana's Supermarket along with Dexter and Ed Fountain Park are all within a fiveminute
walk. The community was constructed in 1964 and renovated in 2018. The two-story buildings include
spacious one-bedroom floor plans at 756 square feet and two-bedroom floor plans at 965 square feet. Interiors
include walk-in closets, upgraded flooring, window treatments, and standard kitchens. Common area amenities
include lush mature landscaping, BBQ area and laundry facilities. The Residences at Bromley presents a valueadd
opportunity offering an investor stable cash flow and excellent future rent growth.
The Residences at Bromley is a 32-unit garden-style community located in the highly desirable central-west submarket
of Las Vegas. The complex is in a predominantly residential area just two blocks from the 95 Freeway and
residents enjoy easy access to Meadows Mall and major economic drivers. Schools include St. Francis De Sales
and Red Rock Elementary. Mariana's Supermarket along with Dexter and Ed Fountain Park are all within a fiveminute
walk. The community was constructed in 1964 and renovated in 2018. The two-story buildings include
spacious one-bedroom floor plans at 756 square feet and two-bedroom floor plans at 965 square feet. Interiors
include walk-in closets, upgraded flooring, window treatments, and standard kitchens. Common area amenities
include lush mature landscaping, BBQ area and laundry facilities. The Residences at Bromley presents a valueadd
opportunity offering an investor stable cash flow and excellent future rent growth.
Property Facts Under Contract
| Price | $4,500,000 | Building Class | B |
| Price Per Unit | $140,625 | Lot Size | 0.79 AC |
| Sale Type | Investment | Building Size | 26,816 SF |
| Cap Rate | 7.05% | Average Occupancy | 94% |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2018 |
| Property Subtype | Apartment | Parking Ratio | 1.19/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-4, Las Vegas | ||
| Price | $4,500,000 |
| Price Per Unit | $140,625 |
| Sale Type | Investment |
| Cap Rate | 7.05% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.79 AC |
| Building Size | 26,816 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2018 |
| Parking Ratio | 1.19/1,000 SF |
| Zoning | R-4, Las Vegas |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 726 |
| 2+2 | 16 | - | 950 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $263,646 | |
| Land Assessment | $197,120 | Total Assessment | $460,766 |
Property Taxes
Parcel Numbers
Land Assessment
$197,120
Improvements Assessment
$263,646
Total Assessment
$460,766
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The Residences at Bromley | 5808-5900 Bromley Ave
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