Las Vegas, home to all time successful and most popular casinos is a vibrant city that attracts gamblers and non gambling business visitors to the state. Las Vegas has different types of multifamily units for rent and sale, apartments, duplexes, and condos. Multi family as the name implies is the residential building with different family units in it.
Multi Family apartments are good investment for investors; these units can bring good rental yield for the investor. An investor can watch his apartments pay for itself as he rents it out or hold onto it to sell off at a later date.
Current sale price of multifamily apartments is between $85,300 – $120,000 per unit
With rental value at less than $1,000/month.
For Multifamily duplexes it’s between $275,000 – $450,000/unit.
Real Estate in Las Vegas is indeed a money pot for many investors as it continues to enjoy increase in population and job growth.
Las Vegas will continue to see an increase in visitors because of its busy life, for a new real estate investor, it will be wise to consider buying Multifamily Apartments above duplexes as it attracts more rental yield while you continue to hold onto the ownership of the house for as long as you want. There are more people to rent than to buy. You may eventually sell it off after some years, here your tenants would have helped you pay off your mortgage on it and you can sell it off even for a better price.