5156 Gray Lane F, Las Vegas, NV 89119, Las Vegas, 89119 - 1 bed, 1 bath
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Las Vegas, NV 89119
This Strategic Rental Asset is listed at $150,000, positioned near its $134,014 Fair Market Value to reflect its premium location and rare amenities. Maintaining a Condition Rating of 4, the unit is functional but offers clear Value-Add potential through interior modernization. The inclusion of a private one-car garage and gated community security provides a competitive edge in the local rental market. Located minutes from UNLV, the Las Vegas Strip, and schools like Jack Dailey Elementary, the property ensures consistent demand. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5156 Gray Lane F Subject | $145,000* List Price | 1 | 1 | 702 | $184 | - |
A 5167 Greene Lane L Sold | $110,000 | 1 | 1 | 702 | $157 | 0.0 mi |
B 5167 Greene Lane L Sold | $110,000 | 1 | 1 | 702 | $157 | 0.0 mi |
C 5167 Greene Lane L Sold | $110,000 | 1 | 1 | 702 | $157 | 0.0 mi |
D 5196 Golden Lane L Active | $159,900 List Price | 1 | 1 | 716 | $223 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1977, this property is functional but shows clear signs of being outdated. The bathroom features older square tiling and a dated vanity, while the garage remains unfinished with stained and unpainted drywall. The checkerboard tile flooring and older black appliances suggest the unit has not undergone a comprehensive renovation in recent years, though it appears maintained enough for immediate occupancy with minor cosmetic updates needed.
Situated minutes from the Las Vegas Strip, UNLV, and Harry Reid International Airport, this property offers exceptional convenience for professionals, students, and frequent travelers.
The inclusion of a private garage is a rare and highly valuable feature for a condominium in this price point, providing secure parking and significant additional storage space.
Located within a gated community, the property provides an added layer of privacy and security, which is a key selling point for urban living in a high-traffic area.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4287, other record lot size in square feet = 432.
Built in 1977, the property may require updates to its mechanical systems or interior finishes to meet modern standards and improve energy efficiency compared to newer developments.
The assigned high school and one of the nearby elementary schools have low performance ratings, which could limit the property's appeal to families and impact long-term appreciation.
Move in ready! This well-located 1-bedroom, 1.25 bath condo with a private garage offers convenience and lifestyle in the heart of Las Vegas. New water heater, new washer, new downstairs toilet, roof just two years old, new garage opener. Situated inside a gated community, the property is just minutes from the world-famous Las Vegas Strip, UNLV and Harry Reid Airport. The layout features a spacious primary bedroom, a full bathroom. The private garage provides secure parking and additional storage, a rare find for condo living in this area. Ideal for a primary residence, second home, or investment opportunity thanks to its central location near major entertainment, dining, and transportation hubs. Enjoy the privacy of a gated community while being just minutes from everything Las Vegas has to offer.
No exterior & parking available.
Grades PK-5 • 0.5 mi
Grades PK-5 • 0.9 mi
Grades 6-8 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 35% |
| Baths | 1.0 | 1.0 | 50% |
| Square foot | 702 | 880 | 34% |
| Lot Size | 4,287 | - | 86% |
| Price | $145.0K | $110.0K | 71% |
| Price per sq ft | $207 | $167 | 71% |
| Built year | 1977 | 1983 | 34% |
| HOA | $267 | $175 | 78% |
| Days on market | 47 | 1510 | 1% |
Apr 9, 2026
$145,000
$150,000
-3% Price Drop
Initial Listing
Mar 6, 2026
$150,000
Initial Listing