5250 South Rainbow Boulevard 1011, Las Vegas, NV 89118, Las Vegas, 89118 - 2 bed, 2 bath
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Las Vegas, NV 89118
This Resort-Style Condominium is a High-Potential Investment Opportunity, listed at $259,900—positioned well above the $235,203 Fair Market Value by 10%. While priced above current estimates, the property features a Good Condition Rating with a Granite Kitchen, Stainless Steel Appliances, and a rare Attached 2-Car Garage. Located near the 215 freeway and Allegiant Stadium, it offers a secure, amenity-rich lifestyle. This property is an ideal acquisition for Buy-and-Hold Investors seeking rental demand or first-time buyers prioritizing convenience and community amenities.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5250 South Rainbow Boulevard 1011 Subject | $259,900* List Price | 2 | 2 | 1,034 | $227 | - |
A 5250 S Rainbow Boulevard 1004 Sold | $250,000 | 3 | 2 | 1,131 | $221 | 0.0 mi |
B 5250 S RAINBOW BL Boulevard 1004 Sold | $250,000 | 3 | 2 | 1,131 | $221 | 0.0 mi |
C 5250 S Rainbow Boulevard 2126 Sold | $298,000 List Price | 3 | 2 | 1,131 | 0.2 mi | |
D 5250 S RAINBOW Boulevard 2130 Sold | $204,888 List Price | 3 | 2 | 1,131 | 0.2 mi | |
E 5022 S Rainbow Boulevard 203 Sold | $194,500 | 2 | 1 | 949 | $205 | 0.3 mi |
F 5250 S Rainbow Boulevard 1029 Active | $259,000 List Price | 2 | 2 | 1,034 | $250 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1997, the property falls into the 'Good' category due to significant interior updates that make it move-in ready. The kitchen features modern granite countertops and stainless steel appliances, while the living areas have been updated with contemporary LVP flooring. These renovations appear to be within the 5-15 year range, offsetting the 27-year age of the structure.
The guard-gated community offers premium amenities including two pools, a fitness studio, and a putting green, providing a secure and high-end lifestyle for residents.
Unlike many condominiums, this unit includes an attached two-car garage with extra storage, offering significant convenience and added value in a dense urban market.
Situated minutes from the 215 freeway, the Las Vegas Strip, and Allegiant Stadium, the property offers exceptional access to major employment and entertainment hubs.
At $435 per month, the association fees are relatively high, which may impact the overall monthly affordability and debt-to-income ratio for potential buyers.
Built in 1997, the property may require more frequent maintenance or future capital improvements compared to newer developments in the surrounding Las Vegas area.
Spanish Palms is a guard-gated, resort-style community offering relaxed desert living with city convenience minutes away. This property features attached 2 car garage, a spacious 1,034 floorplan covered with upgraded flooring, 2-beds (primary) with ceiling fan and walk in closet, 2-baths (primary) walk-in shower, open design with gas fireplace for the living and dinning comb, while the kitchen features granite countertops, stainless steel appliances. Private patio, and extra garage storage. Residents enjoy two sparkling pools, outdoor grills, a clubhouse, fitness studio, putting green, pet park, shaded walkways, and landscaped common areas. The community’s design emphasizes comfort, low-maintenance desert landscaping, and pedestrian-friendly spaces. Convenient access to the 215 freeway, hospitals, shopping, restaurants, the Las Vegas Strip, and Allegiant Stadium makes commuting and entertainment easy. With thoughtful finishes, practical storage, and abundant amenities, Spanish Palms blends tranquility and recreation for people seeking a secure, amenity-rich neighborhood.
No exterior & parking available.
Grades PK-5 • 0.4 mi
Grades 6-8 • 0.4 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 | 1,070 | 44% |
| Lot Size | - | 957 | 47% |
| Price | $259.9K | $200.0K | 83% |
| Price per sq ft | $251 | $217 | 81% |
| Built year | 1997 | 1994 | 58% |
| HOA | $435 | $222 | 97% |
| Days on market | 9 | 332 | 3% |
May 28, 2026
$259,900
Initial Listing