
Las Vegas, NV 89103
This property presents a Strong Value Opportunity with a List Price of $240,000—positioned above the $219,719 Fair Market Value. While the unit requires cosmetic updates due to its Fair Condition Rating, it offers a proven rental history of $1,500 per month and a projected 5.3% cap rate. Featuring a functional 2-bedroom layout, in-unit laundry, and immediate access to the community pool, this asset provides a stable foundation for value-add improvements. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a well-located Las Vegas residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5155 West Tropicana Avenue 1128 Subject | $240,000* List Price | 2 | 2 | 1,063 | $207 | - |
A 5267 Lisagayle Court 136 Sold | $219,000 | 2 | 2 | 1,080 | $203 | 0.5 mi |
B 5242 Osman Court 54 Sold | $255,520 List Price | 2 | 2 | 1,080 | 0.6 mi | |
C 5155 West Tropicana Avenue 1154 Active | $250,000 List Price | 2 | 2 | 1,183 | $211 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1995 (29 years old) with mostly original finishes. The bathroom shows dated oak cabinetry and tile countertops typical of the construction era. While functional and well-maintained for a rental, the unit requires cosmetic updates and shows an aging HVAC system.
With a projected 5.3% cap rate and a proven rental history of $1,500 per month, this property represents a solid opportunity for investors looking for immediate cash flow in a desirable location.
The unit is ideally positioned adjacent to the south pool within a gated community, offering residents easy access to premium amenities and well-maintained green spaces.
The spacious 2-bedroom, 2-bathroom layout includes essential modern conveniences such as in-unit laundry and assigned covered parking, enhancing its appeal for both owners and tenants.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4682, other record lot size in square feet = 2304.
Built in 1995, the property may require upcoming maintenance or cosmetic updates to compete with newer condominium developments in the Las Vegas market.
The unit's proximity to the community pool and guest parking areas may lead to higher ambient noise levels and reduced privacy during peak usage times.
Discover an exceptional value within the gated West Tropicana Condos, presenting a beautifully maintained residence at an unbeatable price point. This prime unit offers an ideal location adjacent to the serene south pool, providing immediate access to leisure and relaxation. The community itself boasts multiple inviting pools and lush, grassy common areas, creating an idyllic environment for residents. Inside, a spacious living room seamlessly transitions into a dedicated dining area, perfect for entertaining or quiet meals. The layout features two distinct bedrooms and two full bathrooms, ensuring comfort and privacy. Convenience is elevated with in-unit laundry facilities, streamlining daily routines. An attractive opportunity for both owner-occupants and investors, the previous tenant leased the unit for $1,500 per month, offering a projected 5.3% cap rate based on pro forma income. This property also includes the added benefit of assigned covered parking and ample guest parking, accommodating all your needs in this desirable Las Vegas location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,063 | - |
| Lot Size | 4,682 | - |
| Price | $240.0K | $217.2K |
| Price per sq ft | $226 | $219 |
| Built year | 1995 | 0 |
| HOA | $200 | $0 |
| Days on market | 8 | 828 |
Jul 14, 2026
$240,000
Initial Listing
Nov 16, 1995
$84,000
Public Record