5155 W Tropicana Avenue 1128, Las Vegas, NV 89103, Las Vegas, 89103 - 2 bed, 2 bath
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Las Vegas, NV 89103
This Well-Maintained Investment Asset is listed at $240,000, offering a stable entry into the Las Vegas market with a performing 5.5% Cap Rate. The property features a functional 1,063 sqft layout including a private patio and a Condition Rating of 4, with original finishes that present a clear opportunity for value-add modernization. Situated in a gated community near the south pool with assigned covered parking, the unit balances immediate rental income with long-term appreciation potential. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5155 W Tropicana Avenue 1128 Subject | $240,000* List Price | 2 | 2 | 1,063 | $187 | - |
A 5155 W Tropicana Avenue 2147 Sold | $239,900 List Price | 2 | 2 | 1,183 | 0.0 mi | |
B 5155 W Tropicana Avenue 2140 Sold | $240,000 | 2 | 2 | 1,063 | $226 | 0.1 mi |
C 5415 W Harmon Avenue 2017 Sold | $259,900 List Price | 2 | 2 | 1,073 | 0.7 mi | |
D 5415 W Harmon Avenue 1004 Sold | $265,000 | 2 | 2 | 1,204 | $220 | 0.6 mi |
E 5242 Osman Court 54 Sold | $255,520 List Price | 2 | 2 | 1,080 | 0.6 mi | |
F 5415 W Harmon Avenue 2012 Sold | $260,000 | 2 | 2 | 1,204 | $216 | 0.7 mi |
G 5155 W Tropicana Avenue 2069 Pending | $263,900 List Price | 2 | 2 | 1,183 | $223 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1995, the property is nearly 30 years old and retains most of its original finishes, including dated tile countertops, oak-style cabinetry, and older bathroom fixtures. While the unit appears well-maintained and functional for its current tenant-occupied status, it lacks modern renovations and shows typical signs of age consistent with the 'fair' criteria.
The property currently performs at an attractive 5.5% cap rate with the flexibility to be delivered vacant or tenant-occupied, appealing to both investors and owner-occupants.
Ideally situated near the south pool within a gated community, the unit offers easy access to amenities, grassy common areas, and assigned covered parking.
Marketed as the best-priced opportunity within the West Tropicana Condos, this unit provides excellent value for a functional 1,063 sqft two-bedroom layout.
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 interior may require cosmetic updates or renovations to meet modern aesthetic standards and maximize future appreciation.
Current tenant occupancy may necessitate more complex showing schedules and could present a hurdle for buyers requiring immediate possession.
Unit #1128 at 5155 Tropicana is well-maintained and the best-priced opportunity within the gated West Tropicana Condos. The community offers pools and grassy common areas. #1128 is ideally located near the south pool, the interior features a spacious living room with a dedicated dining area, two separate bedrooms, two full bathrooms, and in-unit laundry. The property includes assigned covered parking and ample guest parking. Currently tenant-occupied and performing at an attractive 5.5% cap rate, the unit can be delivered vacant or with the tenant in place, providing flexibility for investors or owner-occupants. The property has been well cared for and offers excellent potential for future updates or renovations.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,063 | 884 | 79% |
| Lot Size | 4,682 | 1 | 78% |
| Price | $240.0K | $158.5K | 85% |
| Price per sq ft | $226 | $195 | 83% |
| Built year | 1995 | 1983 | 85% |
| HOA | $200 | $188 | 56% |
| Days on market | 100 | 1176 | 2% |
Jan 12, 2026
$240,000
Initial Listing
Nov 16, 1995
$84,000
Public Record