5125 Gray Lane B, Las Vegas, NV 89119, Las Vegas, 89119 - 1 bed, 1 bath
5125 Gray Lane B
Las Vegas, NV 89119
Property Price
SUMMARY
Analysis of 5125 Gray Lane B, Las Vegas, NV 89119 is currently available with a list price of $159,900. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Las Vegas Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1977, this property is well-maintained and move-in ready with recent cosmetic updates including new flooring. While the interior is clean and functional, the kitchen and bathroom features reflect an older style consistent with its age, and the nearly 50-year-old infrastructure suggests that major systems, while operational, are likely beyond their mid-life point.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Location
Situated less than a mile from UNLV and minutes from Harry Reid Airport, this property is ideally positioned for students, university staff, or frequent travelers seeking convenience.
- Exceptional Parking & Storage
The inclusion of a private 1-car garage plus an assigned parking spot is a rare and highly valuable feature for a condo at this price point, providing both security and extra storage.
- Move-In Ready Condition
Featuring brand-new flooring and including all appliances, this stylish loft-style home offers a turnkey opportunity for owner-occupants or investors looking for immediate rental potential.
CONSRISKS & DEFICIENCIES
- Low School Ratings
The assigned public schools carry low ratings, which may limit the property's appeal to families and impact long-term appreciation compared to areas with higher-rated districts.
- Aging Infrastructure
Built in 1977, the property and community may require more frequent maintenance or future capital improvements compared to newer developments in the Las Vegas market.
About 5125 Gray Lane B
Imagine living in this 702 sq ft loft-style condo offering the perfect blend of a convenient Las Vegas location and also practical comfort. Ideally located in a gated community less than a mile from UNLV and minutes from Harry Reid Airport, this 1-bedroom, 1-bath home is an exceptional opportunity for students, professionals, or investors. The thoughtfully designed layout features an open-concept living space with new flooring and a kitchen downstairs, while the private bedroom is tucked away upstairs and open to below. Enjoy the rare convenience of a 1-car garage for secure parking and/or extra storage, plus an assigned parking spot and plenty of guest parking! Community includes a pool—perfect for relaxing after a long day. With all appliances included and low-maintenance living, this property is move-in ready. Don’t miss your chance to own a stylish retreat in the heart of Las Vegas!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1977
- Lot Size
- -
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $240 / Month
Neighborhood Insights
Las Vegas Unified Schools
Gene Ward Elementary School
Grades PK-5 • 0.6 mi
Jack Dailey Elementary School
Grades PK-5 • 0.9 mi
Helen C Cannon Junior High School
Grades 6-8 • 1.6 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 22% |
| Baths | 1.0 | 2.0 | 41% |
| Square foot | 702 | 962 | 23% |
| Lot Size | - | 724 | 43% |
| Price | $159.9K | $125.0K | 62% |
| Price per sq ft | $228 | $167 | 92% |
| Built year | 1977 | 1980 | 43% |
| HOA | $240 | $215 | 53% |
| Days on market | 244 | 422 | 39% |
Pricing History
Listed for Sale
Jul 6, 2025
$159,900
Initial Listing