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33168366
33168367

6 Locations

DH
NV S.0189703, CA 01962800
Marcus & Millichap - Las Vegas
Listed by Marcus & Millichap - Las Vegas
$8,100,000
7 days on market
Updated 1 day ago
Opportunity zone

Sunrise Apartments

Details
APN 139-35-812-004; 139-35-812-006; 139-35-812-007; 139-35-812-008; 139-35-813-009; 139-35-813-010
Property Type Multifamily
Sub Type Apartment Building
Square Footage 42,046
Net Rentable (SqFt) 42,046
Units 56
Cap Rate 6.03%
NOI $488,113
Occupancy 93%
Pro-Forma Cap Rate 6.33%
Pro-Forma NOI $512,355
Price per SqFt $193
Year Built 1962
Year Renovated 2025
Buildings 6
Stories 2
Acreage 1.180
Zoning R-4
Parking Spaces per unit
Ownership Fee Simple
Sale Condition N/A

A Modernized Downtown Community With Assumable Financing

Marketing description

The Holden Group of Marcus & Millichap, as the exclusive listing group, is pleased to present Sunrise Apartments, a 56-unit multifamily portfolio centrally located within the Downtown Las Vegas corridor. The six-property community offers a diverse mix of one-, two-, and three-bedroom floor plans designed to accommodate a broad resident base. Extensive renovations completed in 2025 introduced modernized interiors, updated finishes, and enhanced community amenities that create a more attractive and comfortable living environment.

The property benefits from strong regional connectivity with convenient access to Interstate 15, Fremont Street, retail centers, employment hubs, and major transportation corridors throughout the Las Vegas Valley. Residents are within close proximity to schools, parks, dining destinations, entertainment venues, and everyday neighborhood services, reinforcing the property’s central location and accessibility. Sunrise Apartments also stands to benefit from the nearby Desert Pines Redevelopment project, which is expected to introduce new housing, parks, commercial uses, and community improvements that further enhance the surrounding area.

Sunrise Apartments features upgraded unit interiors designed to appeal to today’s renters through contemporary finishes, functional layouts, and desirable in-unit amenities. Renovated kitchens, updated bathrooms, modern flooring, and on-site laundry contribute to a more convenient and elevated resident experience throughout the portfolio. Combined with its central location, proximity to ongoing redevelopment activity, and attractive assumable financing structure, the property is positioned for continued long-term demand and operational stability.

*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent for a copy of the Offering Memorandum.*

Investment highlights

  • Assumable Financing: Attractive sub-5% interest-only financing available for more than six years.

  • Stable Returns: Extensive renovations and a diversified resident profile support consistent operational performance.

  • Downtown Connectivity: Sunrise Apartments benefits from direct access to Downtown Las Vegas, major employment centers, and key transportation corridor.

  • Growth Corridor: Positioned near the planned Desert Pines redevelopment and ongoing area revitalization efforts.

Listing Contacts

DH
NV S.0189703, CA 01962800
Marcus & Millichap - Las Vegas
Listed by Marcus & Millichap - Las Vegas

Valuation Calculator

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$488,113.00
$40,676.08/mo

Valuation Metrics

0
DSCR
6.03%
Cap Rate
6.03%
ROI

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Additional Information

Name
Drew Holden
License
S.0189703
Brokerage
Marcus & Millichap
Brokerage Phone
7022157118
Title
Managing Director Investments
Brokerage Address
9205 West Russell Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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