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St. Tropez Villa Apartments | 57 Units | Renovated I 100% Occupied I Master Leased

$9,650,000

4151 West Sirius Avenue, Las Vegas, NV 89102

Active
Last Updated: 02/17/2025

7.1

Cap Rate

45,815 sqft

Building Size

Details:
Cap Rate:    7.1%
Building Size:    45,815 sqft
Lot Area:    1.82 acres
Class:    C
Units:    57
Lease Type:    Absolute Net
Average Room Size:    800 sqft
Year Built:    1985/2024
Price Per Unit:    $169,298
Zoning:    R-4 County
Floors:    2
Parking Spots:    80
Year Last Renovated:    2024
Construction Status:    Wood/Steel Frame/Reinforced Concrete
Roof:    Flat Tar
Highlights:
  • Newly Renovated
  • Stabilzed
  • 100% occupied
  • 3-year NNN leased
  • New Appraisal available
Description:

St Tropez Villa Apartments is perfectly located centrally in a family oriented area of town. The two story complex was built in 1985 and is comprised of 57 large 1x1 bed and 2x2 bed units averaging 803 sf. All 2nd floor units have balconies with a small storage room. Except the 15 ground floor units facing South, the ground floor units have patios. The 57 units sit on a large 1.82 acre lot.

Both ends of the property have very large fenced parking lots with space for 80 cars. All units have continuously been renovated and updated as tenants move out. The property offers on-site laundry, large pool, and a barbecue grill area. The property also has 4 ±135 sf storage units.

The complex is located right across from Clark High School that includes both a baseball and football field. Cashman Middle School and Cashman Park is located 5 minutes from the property, and so is the local Smith’s grocery store. A 3-5 minute drive from the property is a vast selection of shopping and restaurants, and likewise is the on/off-ramp to the I-15 freeway.

The property had the roof replaced within the last 24 months, the exterior painted last year, and all hot and cold water pipes replaced this year.

Per October 1. 2024 the property is NNN master leased by a Clark County approved, one of only 2 in the entire County, care group that handles housing for the County. Their programs include youth and family housing. The initial NNN lease is 3 years, with an option to extend for another 3 years.

Map:
Documents:
Title
NEW_-_St._Tropez_Apartments_-_4151_Sirius_Ave._Las_Vegas.pdf
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Location
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