Green Tree — Sale in Las Vegas, NV
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Las Vegas, NV 89101
Photos
Investment Figures
- Cap rate
- 5.34%
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
Marcus & Millichap, as the exclusive listing broker, is pleased to present Green Tree, a 72-unit multifamily community located at 517 North 28th Street in East Las Vegas. Constructed in 1978, the property consists of nine two-story, low-rise buildings situated across ±3.36 acres and features a mix of one-bedroom residences and two-bedroom townhome-style floor plans. The two-bedroom townhomes comprise the majority of the community and provide larger residential layouts complemented by features including vaulted ceilings, walk-in closets, and private backyards. Gated access, a spacious central courtyard, on-site laundry, surface parking, and landscaped grounds complete a functional residential environment designed to serve a broad renter base. The property benefits from an established infill location with convenient access to Downtown Las Vegas, neighborhood retail, schools, parks, community services, and major transportation corridors throughout the Las Vegas Valley. Green Tree is also located near the Desert Pines redevelopment, which is planned as a mixed-use, mixed-income community incorporating housing, neighborhood-serving retail and services, educational uses, community facilities, and open space. The surrounding East Las Vegas area continues to receive public and private investment focused on housing, infrastructure, economic development, and neighborhood revitalization. These initiatives reinforce Green Tree’s location within an evolving residential corridor while expanding the range of amenities and services throughout the surrounding area. Green Tree is an established multi-family community differentiated by its townhome component, low-density site plan, and practical amenity package. The mix of one-bedroom and larger townhome-style residences broadens the potential tenant base, while the open site configuration, ample parking, and central courtyard contribute to the property’s leasing competitiveness. Existing rents also indicate potential for continued op
Market Context
This multifamily in Las Vegas, NV is listed for sale. It is offered at an approximate 5.3% capitalization rate, a key benchmark for income-producing multifamily assets. 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 a 10.4% vacancy rate, average asking rents near $1455.50/unit/mo, and cap rates around 5.5%. Source: multiple brokerage reports, Q1 2026.
Its 5.3% asking cap rate is in line with the Las Vegas multifamily market average of about 5.5%.
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.
- Is the Las Vegas multifamily market tightening or softening?
- Vacancy is around 10.4% (Q1 2026).
Contact
- Drew Holden · (702) 215-7118 · drew.holden@marcusmillichap.com
- Nicholas Gray · (702) 215-7144 · nicholas.gray@marcusmillichap.com
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