223 N 9th St

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223 N 9th St

Las Vegas, NV 89101
Asking Price
$2.60M
Cap Rate
1.61%
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Multifamily apartment building located at 223 N 9th St
  • Asset is situated in a high-demand rental district
  • Located minutes away from the Fremont Street area
  • Current asking price for this property is 2,600,000
  • The established capitalization rate for this asset is 1.61%

What's Special

Investors seeking multifamily residential holdings in Las Vegas will find this apartment building a notable addition to a portfolio. Situated at 223 N 9th St, the asset is positioned within a high-demand rental area that draws consistent interest due to its proximity to the Fremont Street district. This central location benefits from the steady economic activity and urban revitalization characteristic of the downtown submarket, providing long-term viability for residential leasing strategies. The property serves as a functional vehicle for capital deployment in a major metropolitan hub. With a prime location in the 89101 zip code, the building is situated to capture demand from individuals working or spending time in the heart of the city. Prospective owners can leverage the accessibility of local commerce and public infrastructure to maintain occupancy and tenant retention, making this an appropriate acquisition for those looking to expand their footprint within the Nevada rental market.

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NOI
$80,000
Cap Rate
3.08%
DSCR
0.52
Underwater
Cash-on-Cash
-9.53%
Monthly Payment
$12,863.381
Annual Cash Flow
$-74,360.577

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