Description

2213 Sunrise Avenue is an eight-unit multifamily property for sale at 2213 Sunrise Avenue in Las Vegas, NV 89101. Its mix of three-bedroom and two-bedroom residences gives an investor two apartment formats within a single property.

Built in 1957, the Property contains four three-bedroom, two-bath residences and four two-bedroom, one-bath residences. The masonry building sits on 0.2 acres and has an interior courtyard, gated access, surface parking and a common laundry room. Larger floor plans broaden the range of households the property can serve, while the shared amenities support day-to-day residential use. The site is zoned R-4 by the City of Las Vegas and carries APN 139-35-812-009.

The Property sits in Downtown East, roughly two miles east of the Fremont Street Experience. Cashman Field and Cashman Center are approximately two miles northwest, and three shopping centers are within a 0.4-mile walk. Freeway access is roughly two blocks away. Together, those connections put shopping, employment destinations and travel routes within reach of residents without making the property dependent on a single nearby destination.

The asking price is $1,200,000, or $145 PSF. In-place NOI of $85,262 corresponds to a 7.10% cap rate; stabilized NOI of $106,934 corresponds to an 8.90% stabilized cap rate. The in-place GRM is 10.2, compared with a potential GRM of 8.3. For a buyer, the distinction is between income under the current underwriting and the higher stabilized projection, rather than income already achieved. Review the Offering Materials for the property and investment details.