5225 West Reno Avenue 127, Las Vegas, NV 89118, Las Vegas, 89118 - 2 bed, 2 bath
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Las Vegas, NV 89118
This property presents a High-Potential Investment Opportunity with a List Price of $199,000—positioned well below the $208,334 Fair Market Value by 4%. This valuation gap offers $9,334 in Instant Equity. While the home maintains a Fair Condition Rating with original cabinetry, its prime Southwest location near the 215 Beltway and the Strip ensures strong rental demand. This value-add asset is ideal for Buy-and-Hold Investors or first-time buyers seeking a manageable renovation project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5225 West Reno Avenue 127 Subject | $199,000* List Price | 2 | 2 | 1,070 | $195 | - |
A 5131 Lindell Road 106 Sold | $176,500 | 2 | 2 | 965 | $183 | 0.2 mi |
B 5055 W Hacienda Avenue 2104 Sold | $200,000 | 2 | 2 | 893 | $224 | 0.4 mi |
C 5055 W Hacienda Avenue 2102 Sold | $231,500 | 2 | 2 | 1,036 | $223 | 0.4 mi |
D 5225 W Reno Avenue 205 Pending | $215,000 List Price | 2 | 2 | 1,070 | $201 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1994, this 30-year-old condo features an original kitchen with dated oak cabinetry, tile countertops, and older white appliances. While the laminate flooring appears updated, the listing's 'as-is' status and the visible wear in the kitchen and laundry areas indicate a need for cosmetic updates and minor repairs typical for a property of this age.
Situated in the desirable Southwest area, the property is just 2 miles from the Las Vegas Strip and within walking distance to major shopping, casinos, and the 215 Beltway.
The popular floorplan features 9-foot ceilings, a spacious primary suite with a walk-in closet, and a large balcony, providing a sense of volume and comfortable living space.
Located within a secure gated community, the condo offers access to a pool and spa with ample guest parking, enhancing its appeal for both tenants and owners.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5483, other record lot size in square feet = 2162.
The property is being sold in as-is condition, which likely indicates a need for immediate investment in repairs or cosmetic modernization.
A monthly association fee of $303 increases the carrying costs, which may impact the overall return on investment for potential landlords.
Terrific garden Condo in a gated community. Popular floorplan with 2 bedrooms and 2 bathrooms. . 9'' high Ceiling., The spacious primary bedroom has a walk in closet and slider out to the large balcony. Enjoy a open kitchen with a dining bar. a short walk to a Community pool and spa. Many guess parking. Perfect location in southwest area. Walk distance to shopping, Home deport, Casinos. Super convenient to 215 Beltway and. 2 miles to Strip. This condo will be sold with AS IS condition. Price is good for the investors.
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 | 1,070 | - |
| Lot Size | 5,483 | - |
| Price | $199.0K | $217.2K |
| Price per sq ft | $186 | $219 |
| Built year | 1994 | 0 |
| HOA | $303 | $0 |
| Days on market | 40 | 828 |
Jun 12, 2026
$199,000
Initial Listing
Aug 31, 1994
$80,500
Public Record