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Desert Aire Apartments 1076-1112 Sierra Vista Dr 32 Unit Apartment Building $7,520,800 CAD ($235,025 CAD/Unit) 5.58% Cap Rate Las Vegas, NV 89169
INVESTMENT HIGHLIGHTS
- Significant Value-Add and Rent Growth Potential
- Walking Distance to the Convention Center and a Short Drive to the Strip
- Located in One of the Fastest-Growing Metro Economies in the U.S.
- Spacious 2- and 3-Bedroom Units
- Two-Story Garden-Style Construction
- Strong Occupancy and Proven Rental Demand
EXECUTIVE SUMMARY
The Mogharebi Group is pleased to present the Desert Aire Apartments, a well-maintained apartment community ideally located just minutes from the world-famous Las Vegas Strip and the Las Vegas Convention Center. Spanning four parcels with four two-story buildings, this rare offering combines strong in-place performance with exceptional long-term upside in one of the nation’s most dynamic and resilient rental markets. The property’s proximity to major employment centers, world-class entertainment, and ongoing redevelopment activity makes it an attractive investment opportunity for both private and institutional investors.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$692,633
|
$25.51
|
| Other Income |
$61,091
|
$2.25
|
| Vacancy Loss |
$154,212
|
$5.68
|
| Effective Gross Income |
$599,511
|
$22.08
|
| Taxes |
$19,998
|
$0.74
|
| Operating Expenses |
$159,155
|
$5.86
|
| Total Expenses |
$179,153
|
$6.60
|
| Net Operating Income |
$420,359
|
$15.48
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $692,633 |
| Annual Per SF | $25.51 |
| Other Income (CAD) | |
|---|---|
| Annual | $61,091 |
| Annual Per SF | $2.25 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $154,212 |
| Annual Per SF | $5.68 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $599,511 |
| Annual Per SF | $22.08 |
| Taxes (CAD) | |
|---|---|
| Annual | $19,998 |
| Annual Per SF | $0.74 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $159,155 |
| Annual Per SF | $5.86 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $179,153 |
| Annual Per SF | $6.60 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $420,359 |
| Annual Per SF | $15.48 |
PROPERTY FACTS
| Price | $7,520,800 CAD | Apartment Style | Garden |
| Price Per Unit | $235,025 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.87 AC |
| Cap Rate | 5.58% | Building Size | 27,150 SF |
| Gross Rent Multiplier | 11.71 | No. Stories | 2 |
| No. Units | 32 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | H-1, County | ||
| Price | $7,520,800 CAD |
| Price Per Unit | $235,025 CAD |
| Sale Type | Investment |
| Cap Rate | 5.58% |
| Gross Rent Multiplier | 11.71 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.87 AC |
| Building Size | 27,150 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | H-1, County |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,037 CAD | 705 |
| 2+1 | 15 | $1,659 CAD | 979 |
| 2+2 | 4 | $1,728 CAD | 1,002 |
| 3+2 | 12 | $2,074 CAD | 1,223 |
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $706,124 CAD | |
| Land Assessment | $284,276 CAD | Annual Taxes | $19,998 CAD ($0.74 CAD/SF) |
| Improvements Assessment | $421,848 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$284,276 CAD
Improvements Assessment
$421,848 CAD
Total Assessment
$706,124 CAD
Annual Taxes
$19,998 CAD ($0.74 CAD/SF)
Tax Year
2025
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Desert Aire Apartments | 1076-1112 Sierra Vista Dr
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