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33313531
33313532

230 S MARYLAND PKWY, LAS VEGAS, NV 89101

DH
NV S.0189703, CA 01962800
Marcus & Millichap - Las Vegas
TH
NV 202910
Listed by Marcus & Millichap - Las Vegas
$4,140,000
2 days on market
Updated 1 day ago

The Dwellings

Details
APN 139-34-712-114
Property Type Multifamily
Sub Type Apartment Building
Square Footage 18,720
Net Rentable (SqFt) 18,720
Units 36
Cap Rate 5.21%
NOI $215,537
Occupancy 94%
Pro-Forma Cap Rate 7.55%
Pro-Forma NOI $312,746
Price per SqFt $221
Year Built 1984
Buildings 3
Stories 3
Acreage 0.490
Zoning R-5
Parking Spaces per unit
Ownership Fee Simple

A Downtown Community Enhanced by Regional Infrastructure Investment

Marketing description

The Holden Group of Marcus & Millichap, as the exclusive listing group, is pleased to present The Dwellings, a 36-unit multifamily community centrally located within the Downtown Las Vegas corridor. The community consists entirely of one-bedroom floor plans designed to provide efficient and functional living spaces for residents. Renovated unit interiors and upgraded exterior improvements create an attractive residential environment within one of Las Vegas’ most active urban neighborhoods. The Dwellings benefits from immediate access to Downtown employment centers, entertainment destinations, dining venues, and cultural attractions throughout the urban core. Continued revitalization throughout the surrounding area has further strengthened Downtown Las Vegas as a growing residential and lifestyle destination.

The Dwellings benefits from convenient access to Interstate 11, Interstate 15, and major employment corridors throughout the Las Vegas Valley. Residents are located near Fremont Street, the Arts District, Downtown Container Park, and several emerging entertainment and lifestyle destinations that continue to drive activity throughout the area. Ongoing redevelopment activity throughout Downtown Las Vegas continues to enhance neighborhood connectivity, walkability, and long-term area appeal. The Dwellings also stands to benefit from planned regional infrastructure improvements, including the Maryland Parkway Bus Rapid Transit project serving key destinations throughout the valley. These continued public and private investments are expected to further improve accessibility, pedestrian infrastructure, and overall neighborhood convenience for residents.

The Dwellings presents a well-positioned opportunity within a rapidly evolving submarket supported by continued public and private investment. Modernized interiors, strong regional accessibility, and proximity to Downtown amenities contribute to the community’s long-term residential appeal. The combination of stabilized operations and future rental growth potential positions The Dwellings for continued operational performance and tenant demand. Current rents remain competitive relative to surrounding renovated comparable properties, supporting additional long-term upside potential through continued operational optimization. As Downtown Las Vegas continues to expand as a residential, employment, and entertainment hub, The Dwellings remains well positioned to benefit from the area’s ongoing growth and redevelopment momentum.

*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

Downtown Las Vegas Connectivity:

The Dwellings benefits from a central Downtown Las Vegas location near major employment, entertainment, and cultural destinations.

Renovated Unit Interiors:

The property features upgraded one-bedroom floor plans with modern finishes designed to appeal to today’s renters.

Strong Rental Upside:

Current rents remain below surrounding renovated comparable properties within the Downtown Las Vegas corridor.

Regional Infrastructure Access:

The Dwellings stands to benefit from the Maryland Parkway Bus Rapid Transit project connecting Downtown Las Vegas, the Medical District, UNLV, and Harry Reid International Airport.

Listing Contacts

DH
NV S.0189703, CA 01962800
Marcus & Millichap - Las Vegas
TH
NV 202910
Listed by Marcus & Millichap - Las Vegas

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$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$215,537.00
$17,961.42/mo

Valuation Metrics

0
DSCR
5.21%
Cap Rate
5.21%
ROI

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Additional Information

Name
Cameron (Frank) Glinton
License
NV B.1002894.CORP
Title
Broker of Record
Name
Drew Holden
License
S.0189703
Brokerage
Marcus & Millichap
Brokerage Phone
7022157118
Title
Managing Director Investments
Brokerage Address
9205 West Russell Road
Name
Ty Hill
License
202910
Brokerage
Marcus & Millichap
Brokerage Phone
702-215-7101
Title
Real Estate Broker
Brokerage Address
9205 West Russell Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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