5227 Greene Ln
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5227 Greene Ln
4 Unit Block of Flats £481,290 (£120,322/Unit) 6.39% Net Initial Yield Las Vegas, NV 89119
Investment Highlights
- Central Location
- Community Pool
- Below Market Rents
- Guard gated community
- 1 Car Garage for Each Unit
Executive Summary
Great Investment opportunity to take advantage of rising market rental rates which are up more than 30% since Jan 2020. This 4 plex consists of one 3 bedroom unit, one 2 bedroom unit and two 1 bedroom units. This property is in an ideal central location near both Harry Reid International airport and UNLV. The gated community is in high demand with plenty of advantages over other nearby apartments including a security guard and a community pool. Each unit also has a detached 1 car garage, a rare amenity for apartments like this. One unit was just renovated and two have new air conditioners that were replaced within the last year. Existing rents are 10-15% below market giving an investor upside and a 7.25% pro-forma cap rate at market rents.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £481,290 | Building Class | C |
| Price Per Unit | £120,322 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 3,648 SF |
| Net Initial Yield | 6.39% | Number of Floors | 2 |
| No. Units | 4 | Year Built | 1977 |
| Property Type | Residential | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | £481,290 |
| Price Per Unit | £120,322 |
| Sale Type | Investment |
| Net Initial Yield | 6.39% |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,648 SF |
| Number of Floors | 2 |
| Year Built | 1977 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
Site Amenities
- Pool
- Gated
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 690 - 702 |
| 2+2 | 1 | - | 1,060 |
| 3+2 | 1 | - | 1,196 |
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PROPERTY TAXES
| Parcel Number | 162-27-611-335 | Total Assessment | £70,539 |
| Land Assessment | £39,817 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £30,723 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
162-27-611-335
Land Assessment
£39,817
Improvements Assessment
£30,723
Total Assessment
£70,539
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
zoning
| Zoning Code | C:R-3 |
| C:R-3 |
-
Timothy Erickson -
Skyline Real Estate Services LLC
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5227 Greene Ln
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