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Multi-Family Units

LAS VEGAS MULTI-FAMILY UNITS ARE A GREAT DEAL

Monday, May 3rd, 2010

Now is a great time to buy that second home in the sun, or maybe, a low maintenance lifestyle year round. Las Vegas has great deals on high rise condo’s near all the action or quiet low rise communities with everything you need right at your doorstep.

The bursting of the real estate bubble in the late 2000’s has hit every sector of the real estate market hard. While it may appear that the price decline in multi-family units has been greater than in other sectors of the market, this is only because this market saw a greater (though unsustainable) rise in prices in the early 2000’s.

As Mark Twain once stated, “Buy land, they’re not making it anymore.” Land prices in Las Vegas have risen dramatically over the past few years, so developers are building up, not out. This trend has led to the multi-family market being over-built and consequently great buys available in today’s market.

With the changing demographics, (baby boomers not needing large, suburban homes to raise a family any more) people not wanting the maintenance of single family homes, and a more central location; multi-family units should show a greater rate of price appreciation in the coming years. However, many people will be buying condos for the lifestyle as much as the investment potential. But, no matter what the reason for buying a multi-family unit, the increased demand will make this segment of the real estate market an attractive place to put your money.

Desirable lifestyle, potential good investment, and Las Vegas: Does it get any better than that?

Multi-Family Units in Las Vegas, NV

Monday, March 29th, 2010

The idea of buying multi-family units is appealing to lots of real estate investors. There is lots of potential to make a lot of money in the long run if you play your cards right. Las Vegas, NV is a great place to buy a multi-family unit. Thousands of people want to live there, and if you purchase a multi-family property in a decent neighborhood, you have more leeway with how much rent you can charge your tenants.

Before deciding to purchase the multi-family property in Las Vegas, you need to consider the neighborhood and the condition of the property. If the property is in need of a lot of repair, but still in a nice neighborhood, it may be worth spending the money to remodel the property so you can feel justified in asking for a higher rental price. It’s also a good idea to do your homework and find out how much comparable multi-family units are renting for. This will give you a better idea of how much to charge your tenants.

The only disadvantage of owning multi-family units is that it may be a hassle dealing with repairs and general management of the property. If you’re a very busy person, you may not have time to keep the property up yourself. It may be necessary to hire someone to oversee things for you on a daily basis, and this will be an added expense. The good news is that a multi-family property in Las Vegas, NV will pay for itself over time and make a nice profit for you.

Multi-Family Units in Las Vegas, NV

Thursday, February 18th, 2010

I have done my research and have found many multi-family units currently available in the Las Vegas area. Prices for 4 unit buildings seem to range from anywhere around $1,400,000 for the very classy units, down to about $250,000 for less desirable properties.

For example, there is a high-end 4 unit complex with two 2br/2ba and two 2br/1ba units around the Hwy 15 and East Tropicania Ave area. It is currently listed at $1.4M and is listed by Victoria Lackey of Members Real Estate Services.

For something less expensive but still relatively nice is a 4 unit with four 1br/1ba units going for $695,000. This property is located around the Hwy 15 and 515 area. It is listed by Century 21, and I have noticed they do have several other multi-family units currently listed as well.

If you are looking for something that is going to cash flow I would suggest taking a look at some of the several four units currently available in the $300,000 price range. My top pick after doing some research would probably be a property located at 771 Palo Verde Cr currently going for only $290,000. This property has a total of 4576 sf and features 5 units. It has one 1br/1ba unit, two 2br/1ba units, one 3br/1ba unit and one 3br/2ba unit. Seems like this property would cash flow very nicely and is currently listed with Alliance Properties.

If you are looking for a good resource for more properites I would consider going to realtor.com because they have many multi-family properties listed there.

Investing in Las Vegas, NV Multi Family Units

Wednesday, December 23rd, 2009

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.

An Overview of Multi-Family Units in Las Vegas, NV

Friday, December 11th, 2009

A multi-family unit is part of a building that is meant to provide living space for more than one family. These types of buildings range from duplexes for two families to apartment buildings for many families.

There are many kinds of multi-family units available for sale and rent in Las Vegas. These units include apartments, duplexes, condos, and townhouses. Multi-family units that can be bought or rented are available all over the city for different prices.

Multi-family units are available in different types of neighborhoods. Units are available in residential areas, in areas that are a mix of commercial buildings and residences, and in areas that are very close to the Strip.

Condos can be purchased for under a hundred thousand dollars. Luxury condos can cost several million dollars. Rent for apartments in Las Vegas ranges from under a thousand dollars to several thousand dollars.

Multi-family unit buildings can be purchased as investment properties and rented out for additional income.

In a large city like Las Vegas, there are many choices for multi-family units. Before people rent or buy a multi-family unit in Las Vegas, it would be a good idea to do research to see what is available that fits their needs. Preliminary research to find out what types of multi-family units are available and what the prices are for these units can be done online. Research on neighborhoods can be done by driving around the city. Once research has been done, selecting a multi-family residence will be easier.

Buying Multi-Family Units in Las Vegas, NV

Wednesday, November 18th, 2009

Finding a multi family unit for sale in Las Vegas, Nevada is easier than one would think. Shopping online for your future home is becoming one of the biggest things. It gives you the option of doing the search on your own time and from the comfort of your own home. If you are interested in investing, right now would be a wonderful time to get the property of your dream.

Las Vegas is home to many different amazing real estate companies that have tons of great listings for multi family homes. You can find great homes that are in the price range that you are looking for. Some of them start at 30,000 and go up from there. The possibilities are endless as to what you can and choose from.

If you are looking for multi family homes that are built with many rooms, you are sure to be able to find one that fits your needs. Most of the multi family homes are going to be coming with up to three rooms and two baths. You can find some properties that come with private parking in the rear of the building, as well as some units with a private garage.

If you are looking to invest in multi family homes in Las Vegas, rest assured in knowing that the possibilities are endless. There are many condos and other types of multi family property that are being sold at some of the lowest prices. Many companies are listing their properties on the Internet, that can be found very easy.

Market Recap

  • Avg. Sales Price: 379,000

  • Avg. Days on Market: 69

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