405 Leonard Avenue, Las Vegas, NV 89106, Las Vegas, 89106 - 4 bed, 3 bath
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Las Vegas, NV 89106
This Income-Generating Residential Asset is listed at $385,000, representing a stable entry point at its $385,000 Fair Market Value. The property is a turnkey rental powerhouse, currently securing $3,000 Monthly Rental Income with tenants already in place. Featuring a spacious 4-Bedroom Layout, Updated Kitchen, and No HOA Fees, the home holds a Condition Rating of 4, offering functional performance with clear upside for future modernization. Located near the Arts District, this is a strategic acquisition for Buy-and-Hold Investors or Portfolio Managers seeking immediate cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 405 Leonard Avenue Subject | $385,000* List Price | 4 | 3 | 1,858 | $207 | - |
A 520 Leonard Avenue Sold | $349,999 | 4 | 2 | 1,536 | $228 | 0.1 mi |
B 1905 Walker Street Sold | $370,000 | 3 | 2 | 1,660 | $223 | 0.3 mi |
C 601 Frederick Avenue Sold | $395,000 | 4 | 2 | 1,624 | $243 | 0.2 mi |
D 525 Byrnes Avenue Sold | $322,000 | 4 | 2 | 1,344 | $240 | 0.2 mi |
E 1328 Balzar Avenue Sold | $315,000 | 4 | 2 | 1,320 | $239 | 1.0 mi |
F 1101 Leonard Avenue Active | $349,500 List Price | 3 | 3 | 1,854 | $189 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1954, this property is functional and currently tenanted but shows significant signs of age. While the kitchen has been updated with oak cabinetry and tile flooring, the style is dated. Interior images reveal popcorn ceilings, window AC units suggesting older or supplemental cooling systems, and a bathroom with visible peeling paint and dated fixtures. The home requires cosmetic repairs and modernization to meet current standards, fitting the 'fair' criteria of being maintained but showing signs of being outdated.
The property is a turnkey investment opportunity with reliable cash flow, featuring existing tenants already in place paying $3,000 per month.
The home boasts an updated kitchen and durable tile and wood flooring throughout, eliminating the need for immediate carpet replacement or major interior renovations.
The absence of a Homeowners Association allows for greater owner flexibility and lower monthly carrying costs, maximizing the overall return on investment.
Originally built in 1954, the property may require more frequent maintenance or future upgrades to aging systems like plumbing and electrical compared to newer builds.
Many of the assigned public schools in the immediate area carry low performance ratings, which could potentially limit the property's appeal to families.
Amazing Investment Opportunity at an Irresistible Price! This Very Well Maintained, 4 Bedroom/3 Bathroom Home Has Tenants in Place at 3K a Month! Located on a Larger Sized Lot, and in a Convenient Location, What Else can You Ask For! NO HOA!! This Home of Almost 2K Sq. Ft. Features Tile and Wood Flooring Throughout, No Carpet, an Updated Kitchen, Open Floor Plan, Dining Room, Family Room, Appliances, Separate Laundry Room, and Large Backyard. Located Near Parks, Golf Courses, The Culinary Academy, World Famous Fremont St Experience, and The Ever Developing Arts District. Dont Miss Out!
No exterior & parking available.
Grades PK-5 • 0.3 mi
Grades PK-5 • 0.5 mi
Grades PK-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 1,858 | - |
| Lot Size | 6,534 | - |
| Price | $385.0K | $474.8K |
| Price per sq ft | $207 | $257 |
| Built year | 1954 | 0 |
| HOA | $0 | $0 |
| Days on market | 176 | 526 |
Jan 27, 2026
$385,000
Initial Listing
Dec 17, 2009
$45,000
Public Record