5250 South Rainbow Boulevard 1012, Las Vegas, NV 89118, Las Vegas, 89118 - 1 bed, 1 bath
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Las Vegas, NV 89118
This High-Potential Investment Opportunity is listed at a List Price of $179,900, positioned slightly above the $172,908 Fair Market Value. While the property carries a Fair Condition Rating due to its age and necessary cosmetic repairs, it offers a rare, functional layout featuring an Attached 1-Car Garage and access to Resort-Style Amenities. The unit provides a stable foundation for value-add improvements. This asset is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a prime Spring Valley location with significant lifestyle utility.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5250 South Rainbow Boulevard 1012 Subject | $179,900* List Price | 1 | 1 | 744 | $230 | - |
A 5250 S Rainbow Boulevard 2038 Sold | $195,000 | 1 | 1 | 744 | $262 | 0.1 mi |
B 5250 S Rainbow Boulevard 2101 Sold | $200,000 | 1 | 1 | 744 | $269 | 0.2 mi |
C 5072 S Rainbow Boulevard 104 Sold | $184,500 | 1 | 1 | 841 | $219 | 0.1 mi |
D 5022 S Rainbow Boulevard 203 Sold | $194,500 | 2 | 1 | 949 | $205 | 0.3 mi |
E 5250 S Rainbow Boulevard 1075 Active | $229,900 List Price | 1 | 1 | 744 | $309 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1997 (27 years old), the property is dated and shows signs of wear, including visible damage to the kitchen cabinetry under the sink. While it features updated stainless steel appliances and stone countertops, the original cabinets, older carpeting, and 20+ year age of the systems place it in the fair category requiring minor repairs and cosmetic updates.
This rare first-floor unit includes an attached one-car garage with direct interior access, offering a level of convenience and security that is highly sought after in the condominium market.
The guard-gated Spanish Palms community provides an extensive amenity package, including two pools, a spa, a fitness center, a dog park, and a putting green, creating a high-value lifestyle for residents.
Perfectly positioned just 10 minutes west of the Las Vegas Strip, the property offers an ideal balance of quiet residential living with immediate access to world-class dining, shopping, and entertainment.
The monthly HOA fee of $448 is relatively high for a one-bedroom unit at this price point, which may impact the overall affordability for first-time buyers or reduce net yields for investors.
At 744 square feet with a single bedroom, the property's compact footprint limits its appeal to individuals or couples and may feel restrictive compared to larger multi-bedroom alternatives in the area.
Welcome home to the Spanish Palms community! This first-floor, 1-bedroom, 1-bathroom condo offers comfortable single-level living with an attached 1-car garage with direct access. The open-plan living room with fireplace and dining area flows seamlessly to a covered patio. The guard-gated neighborhood provides peace of mind and a host of resort-style amenities, including two pools, a spa, clubhouse, fitness center, dog park, putting green, lush landscaping, and serene park-like surroundings. Enjoy the unbeatable convenience of being just 10 minutes west of the Strip, close to shopping, dining, and entertainment. With so many community perks and a prime location in the heart of Spring Valley, this gem is a must-see!
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 |
|---|---|---|
| Beds | 1.0 | 0.0 |
| Baths | 1.0 | 0.0 |
| Square foot | 744 | - |
| Lot Size | 23,308 | - |
| Price | $179.9K | $217.2K |
| Price per sq ft | $242 | $219 |
| Built year | 1997 | 0 |
| HOA | $448 | $0 |
| Days on market | 47 | 828 |
Jun 5, 2026
$179,900
Initial Listing