Mesquite Apartments 1400 E Mesquite Ave 8 Unit Apartment Building $1,930,516 CAD ($241,314 CAD/Unit) 5.14% Cap Rate Las Vegas, NV 89101

1400 E. Mesquite Avenue offers investors the opportunity to acquire an eight-unit multifamily property near Downtown Las Vegas. Built in 1978, the property consists of eight spacious two-bedroom, one-bathroom apartments,730 square feet per unit, with an estimated total building area of 5,848 square meters.
Several units have reportedly received interior improvements, including updated cabinetry, paint, plumbing fixtures, kitchen appliances, and bathroom finishes. Additional property features include individual storage areas, an on-site coin-operated laundry facility, air conditioning, and a fully fenced perimeter. An archived commercial listing indicates that the roof was replaced in 2017.
The property is located east of Downtown Las Vegas, with convenient access to Fremont Street, US-95, Interstate 15, employment centers, public transportation, shopping, schools, hospitals, and cultural attractions. Its central infill location and practical two-bedroom floor plans support steady rental demand and provide potential for continued rent growth.
Investment Highlights
Ice
All units reportedly configured with two bedrooms and one bathroom
Approximat
Approximately 5,848 square feet of total building area
Approximately 0.30-acre parcel
Constructed in 1978
Roof reportedly replaced in 2017
Already
Individual
On-site coin-operated laundry
Fully fenced property
Current advertised rent of approximately $1,000 per month for select units
Potential gross scheduled rent of approximately $96,000 annually if all eight units rent for $1,000 per month
Center
Value-add opportunity through continued renovations, improved operations, and market-based rent adjustments
Market
Excellent opportunity to acquire an eight-unit apartment property minutes from Downtown Las Vegas. The property features highly marketable two-bedroom floor plans, on-site laundry, individual storage, a fenced perimeter, and several recently improved units. With select units advertised around $1,000 per month, the property offers immediate income together with potential upside through lease stabilization, continued renovations, expense management, and future rent growth. Ideally positioned for an investor seeking an attainable multifamily asset in a central Las Vegas infill location