718 W Wilson Ave Las Vegas, NV 89106 Off Market

UPDATED: 01/22/2025 07:02 PM

$625,000

4 Beds4 Baths2,288 SqFt

Key Details

Property Description

Welcome to 718 W Wilson Avenue, a meticulously maintained fourplex nestled in an Opportunity Zone, offering an incredible investment opportunity in the heart of Las Vegas. This garden-style property showcases single-story units and has undergone recent updates, including newer windows, a water heater, and central air conditioning units, ensuring a comfortable living experience for both tenants and future buyers.

Investment Highlights:

Prime Location: Situated in the central Las Vegas submarket, this fourplex boasts a convenient location near downtown, offering easy access to a multitude of amenities and attractions. The property is strategically positioned with quick freeway access, enabling effortless commuting and exploring the vibrant city.

Gated and Enclosed: Enjoy a secure and private environment within the recently gated and enclosed premises, creating a welcoming courtyard ambiance for residents. This addition enhances the overall appeal and tranquility of the property.

Thriving Neighborhood: Only a two-minute drive from Jackson Avenue, which is a hub of activity featuring a vibrant mix of new restaurants, lounges, and public exhibits. Your tenants will have an array of entertainment options right at their doorstep, providing an engaging and enjoyable lifestyle.

Strong Income Potential: Recent vacancies allow the property to be marketed at the prevailing market rate of $1,212 to attract new tenants, increasing the earning potential.

Low Operating Expenses: Benefit from low operating expenses, maximizing your return on investment. Explore additional income streams by utilizing the laundry room area with machines, leasing out the storage room, and implementing Ratio Utility Billing System (RUBS) to offset utility expenses, enhancing the overall profitability of the property.

Opportunity Zone Advantage: Located within an Opportunity Zone, this property offers potential tax benefits and incentives for qualified investors. Seize the opportunity to capitalize on this advantageous zoning designation.

Affordable Property Taxes: Enjoy the advantage of low property taxes, which amount to only $918 per year, reducing your overall expenses and increasing your net returns.