Property Listing No Longer Available for Sale

1116 East Ogden Ave, Las Vegas, NV

Multi-family for Sale - $2,999,000 - 26,000 Sq. Ft. on 0.8 acres


Property Info

CIMLS#971766
Location
  1116 East Ogden Ave
  Las Vegas NV 89101
UpdatedJanuary 22nd, 2018
TypeMulti-family
Price$2,999,000
Building26,000 Sq. Ft.
Land0.8 acres

Property Description

Rare value-add investment opportunity. Assemblage in prime resurgent downtown Las Vegas Fremont East neighborhood consisting of fully leased apartments plus 2 adjacent properties on 1/3 of a downtown city block. In the heart of downtown Las Vegas close to shops, entertainment, downtown Casinos, new developments and transit. Includes 22 unit apartment building + triplex with laundry, commercial building and house sitting on 1/3 of a city block corner 1 block north of the Fremont East Entertainment District. Renovate to increase rents and add value or ideal for redevelopment.

Location Description:

Rapidly changing and in-demand Fremont East neighborhood in downtown Las Vegas 1 block north of the Fremont East Entertainment District and new light rail station planned and approved for the intersection of East Fremont and Maryland Parkway.

Highlights:

>> Downtown Las Vegas Redevelopment area value-add investment opportunity

>> Resurgent Fremont East neighborhood close to entertainment, shops, downtown casinos and more

>> 25 apartment units consisting of 22 unit building + triplex with laundry room

>> 2000 sf commercial

>> Single Family Home plus duplex

>> 1/3 of an entire downtown city block

>> 1 block north of the newly approved downtown light rail station linking McCarran Airport, the "Strip", Downtown Las Vegas and the Medical District (http://www.rtcsnv.com/planning-engineering/rtc-projects/maryland-parkway/)

>> Significantly below market rents. Renovated units command a 25% or more increase in rental rates

>> Downtown core sub-market

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Financials