Windsor Apts - PRICE REDUCED - 100% Leased | 550 Elm Dr
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Windsor Apts - PRICE REDUCED - 100% Leased 550 Elm Dr
21 Unit Apartment Building $5,185,272 CAD ($246,918 CAD/Unit) 7.03% Cap Rate Las Vegas, NV 89169
Investment Highlights
- Pool / Jacuzzi
- Secured / Gated Property
- H-1 Zoning (Can be converted into a Hotel, Air BnB or even Condo's)
- On-site Laundry (extra income)
- Large Sized Units
Executive Summary
Owner will carry with a large down payment. Because it's on H-1 Zoning (which is the best zoning in Las Vegas)...This property is a perfect conversion for a Hotel, Airbnb, or Condominiums. The units are very spacious. Property is Gated. Has a Swimming Pool. On-site Laundry Room (extra income). (1, 2 & 3 bedrooms it also has 1 four bedroom unit). Owner will carry with a large down payment.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2022) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$432,573
|
$17.11
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$432,573
|
$17.11
|
| Taxes |
$20,334
|
$0.80
|
| Operating Expenses |
$38,199
|
$1.51
|
| Total Expenses |
$58,533
|
$2.32
|
| Net Operating Income |
$374,041
|
$14.80
|
Financial Summary (Actual - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $432,573 |
| Annual Per SF | $17.11 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $432,573 |
| Annual Per SF | $17.11 |
| Taxes (CAD) | |
|---|---|
| Annual | $20,334 |
| Annual Per SF | $0.80 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $38,199 |
| Annual Per SF | $1.51 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $58,533 |
| Annual Per SF | $2.32 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $374,041 |
| Annual Per SF | $14.80 |
Property Facts
| Price | $5,185,272 CAD | Building Class | C |
| Price Per Unit | $246,918 CAD | Lot Size | 0.94 AC |
| Sale Type | Investment | Building Size | 25,280 SF |
| Cap Rate | 7.03% | Average Occupancy | 100% |
| Sale Conditions | 1031 Exchange | No. Stories | 2 |
| No. Units | 21 | Year Built/Renovated | 1970/2022 |
| Property Type | Multifamily | Parking Ratio | 1.76/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden |
| Price | $5,185,272 CAD |
| Price Per Unit | $246,918 CAD |
| Sale Type | Investment |
| Cap Rate | 7.03% |
| Sale Conditions | 1031 Exchange |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.94 AC |
| Building Size | 25,280 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2022 |
| Parking Ratio | 1.76/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Hardwood Floors
- Refrigerator
- Carpet
- Freezer
Site Amenities
- Controlled Access
- Laundry Facilities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $1,441 CAD | 750 |
| 2+2 | 11 | $1,658 CAD | 900 - 1,000 |
| 4+2.5 | 3 | $2,274 CAD | 1,200 - 1,400 |
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Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 162-15-201-010 | Total Assessment | $561,370 CAD (2024) |
| Land Assessment | $174,681 CAD (2024) | Annual Taxes | $20,334 CAD ($0.80 CAD/SF) |
| Improvements Assessment | $386,689 CAD (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
162-15-201-010
Land Assessment
$174,681 CAD (2024)
Improvements Assessment
$386,689 CAD (2024)
Total Assessment
$561,370 CAD (2024)
Annual Taxes
$20,334 CAD ($0.80 CAD/SF)
Tax Year
2022
zoning
| Zoning Code | H-1, County (H-1 Zoning is considered to be the best zoning in Las Vegas. It is the Limited Resort and Apartment district.) |
| H-1, County (H-1 Zoning is considered to be the best zoning in Las Vegas. It is the Limited Resort and Apartment district.) |
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Windsor Apts - PRICE REDUCED - 100% Leased | 550 Elm Dr
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