2.41 AC 54-Unit Multifamily Land w/ Building Plans… — Sale in Las Vegas, NV

  • Price: $2M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Las Vegas, NV 89110
  • Size: 49,050 SF

Investment Figures

Price per square foot
$41
Price per unit
$37,000 across 54 units

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

A rare redevelopment opportunity to build 54-unit multifamily development opportunity with building & civil plans included in the price. - A shovel ready 2.41 AC 54-unit multifamily land (former mobile home park) consisting of 14 one-bedroom units, 32 two-bedroom units, and 8 three-bedroom with den units in growing area. - Price includes the BUILDING and CIVIL PLANS ready-to-issue - This project is located in the 2025 Qualified Census Tracts (QTCs) - 105 parking spaces planned meeting the city's parking requirement - All utilities are at the site including water, sewer, gas and power - All mobile homes were removed and the lot is empty currently. The site has various location advantages including 1) four elementary schools across the street and nearby, 2) Shaquille O’Neal’s Boys and Girls Club coming soon in 2026 across the street, 3) 16 AC new home community is coming on Owens & Lamb 4) 4 new communities recently built /being-built by Storybook Homes (owned by luxury developer Toll Bros) on Owens Ave 5) major public transportation access connecting to North Las Vegas industrial parks, Summerlin, and Spring Valley Building SF: 49050 | Land Size: 2.41 Ac | Listing Type: FOR SALE

Market Context

This multifamily in Las Vegas, NV is listed for sale at $1,998,000 across 49,050 SF. It has been on the market for 70 days. Compare it against other multifamily listings for sale in Las Vegas, NV — view the full market.

As of Q1 2026, the Las Vegas multifamily market showed average asking rents near $1457.00/unit/mo, and cap rates around 5.5%. Source: multiple brokerage reports, Q1 2026.

Multifamily market FAQ

What is the typical cap rate for multifamily in Las Vegas?
About 5.5% as of Q1 2026, per multiple brokerage reports.

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