Property Details

Property Description

TURNKEΥ, FULᏞY OCCUΡIΕD INCOΜE-PRODUCING OΡPΟRTUNITY IN PARADISE PALMS! This impressive approximately 4, 100 SF property features 8 bedrooms, 5 bathrooms and 3 separate living areas, offering exceptional flexibility for investors or an owner-occupant looking to offset their mortgage with rental income. 100% occupied for approximately 3 years with a strong, consistent rental history, currently generating approximately $6, 750 / month and $81, 000 annually in gross rental income. At an $830, 000 purchase price, that's a 9.76% gross yield with an estimated cap rate of approximately 7.5%, based on current income and estimated operating expenses. Even better, the property is being offered FULLY FURNISHED, creating a truly turnkey investment opportunity with great existing tenants. Live in one living area while collecting income from the others, or continue operating the entire property as an income-producing investment. Enjoy a resort-style swimming pool with attached spa / jacuzzi and spacious outdoor entertainment area, all within a quiet, established neighborhood. Outstanding central Las Vegas location just minutes from the Las Vegas Strip, Harry Reid International Airport, UNLV, Allegiant Stadium, the future Athletics ballpark, shopping, dining, entertainment and major freeways. An exceptionally convenient location where tenants can easily Uber throughout the city's major employment and entertainment corridors. This is the perfect property for an ambition investor to live and rent out. NO HOA. Opportunities combining this level of income, occupancy history, location, furnishings and lifestyle amenities rarely become available. Property is currently operated as an income property; buyer to independently verify zoning, permitted uses, unit configuration, rental income, expenses and all information material to buyer.