5250 S Rainbow Boulevard 1040, Las Vegas, NV 89118, Las Vegas, 89118 - 2 bed, 2 bath
Loading property details...
Las Vegas, NV 89118
This Rare Garage-Equipped Condominium is listed at $249,500, offering a unique functional advantage within the resort-style Spanish Palms community. While the price sits above the $225,980 Fair Market Value, it reflects the significant premium and high demand for the rare attached 2-car garage and 24-hour guard-gated security. With a Condition Rating of 4, the interior features a privacy-centric floor plan, fireplace, and private patio ready for cosmetic updates. Zoned for the top-rated Marion B Earl Elementary, this home is an ideal sanctuary for Owner-Occupants or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5250 S Rainbow Boulevard 1040 Subject | $249,500* List Price | 2 | 2 | 1,034 | $219 | - |
A 5012 S Rainbow Boulevard 101 Sold | $205,000 List Price | 2 | 2 | 1,091 | 0.3 mi | |
B 5250 S RAINBOW BL Boulevard 1123 Sold | $269,000 | 3 | 2 | 1,131 | $238 | 0.2 mi |
C 5022 S Rainbow Boulevard 204 Sold | $220,000 | 2 | 2 | 1,091 | $202 | 0.3 mi |
D 5250 S Rainbow Boulevard 1004 Sold | $250,000 | 3 | 2 | 1,131 | $221 | 0.1 mi |
E 5250 S Rainbow Boulevard 2058 Active | $295,000 List Price | 3 | 2 | 1,131 | $261 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1997, the property is in mostly original condition and shows signs of wear and deferred maintenance. The kitchen features dated fluorescent lighting and linoleum flooring, with visible damage to the cabinet finishes. While the unit is functional and includes a rare attached garage, the interior requires cosmetic updates and minor repairs to bathrooms and kitchen surfaces to meet current market standards.
The property features a rare attached 2-car garage with direct interior access, providing a level of convenience, storage, and security seldom found in condominium living.
Residents enjoy a resort-style lifestyle within a 24-hour guard-gated community, featuring a waterfall pool, fitness center, and lush landscaping that enhances curb appeal.
The downstairs unit offers a highly functional split-bedroom layout that maximizes privacy, complemented by a cozy fireplace and a private outdoor patio space.
The association fee of $432 per month is relatively high for a property at this price point, which may impact overall monthly affordability for some buyers.
With a construction date of 1997, the property may require interior modernizations or face upcoming capital improvement assessments common in older community developments.
Spanish Palms Condominiums is a highly desirable, resort-style, guard-gated community with 24-hour security, featuring a stunning pool area with a waterfall, lush landscaping, and BBQ facilities. Residents also enjoy access to a fitness center and beautifully maintained parks. Ideally situated in a central Las Vegas location, the community offers convenient access to major employment hubs, dining, shopping, and entertainment. This downstairs 2-bedroom, 2-bath residence features a highly sought-after floor plan with bedrooms separated for privacy. The spacious family room includes a fireplace and opens to a private patio. A rare attached 2-car garage with direct interior access adds exceptional value and convenience.
No exterior & parking available.
Grades PK-5 • 0.3 mi
Grades 6-8 • 0.3 mi
Grades 9-12 • 0.4 mi
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 | 1,034 | 1,034 | 50% |
| Lot Size | 23,308 | - | 94% |
| Price | $249.5K | $184.5K | 75% |
| Price per sq ft | $241 | $205 | 75% |
| Built year | 1997 | 1996 | 52% |
| HOA | $432 | $220 | 91% |
| Days on market | 82 | 986 | 5% |
Jan 30, 2026
$249,500
Initial Listing