Fully occupied and professionally managed, this turnkey fourplex in Northwest Las Vegas offers four spacious 2-bed, 2-bath units, each with in-unit laundry, fireplaces, and private storage. The property currently generates $6,005 in monthly rental income, with upside potential to $6,600/month through market rent adjustments, increasing the CAP rate from 6.92% to 7.32%. Built in 1984 and requiring minimal updates, this is a low-maintenance, high-demand asset positioned for value optimization. Located near Summerlin, tenants benefit from convenient access to shopping, dining, entertainment, and major transit routes. With strong cash flow and long-term appreciation potential, this is a rare opportunity in one of Las Vegas’s most stable rental corridors.
Listing Provided Courtesy of Simply Vegas
Property Details
Price:
$799,999
MLS #:
2692240
Status:
Active
Beds:
0
Baths:
0
Address:
1920 Lirio Way
Type:
Multi Family
Subtype:
MultiFamily
Subdivision:
Sierra Oeste
City:
Las Vegas
Listed Date:
Jun 16, 2025
State:
NV
Finished Sq Ft:
3,892
Total Sq Ft:
3,892
ZIP:
89108
Lot Size:
6,970 sqft / 0.16 acres (approx)
Year Built:
1984
Units:
4
Schools
Elementary School:
,
Interior
Appliances
Oven, Range, Refrigerator
Cooling
Central Air
Flooring
Tile
Heating
Central, Gas
Laundry Features
Laundry Room
Exterior
Architectural Style
Fourplex
Association Amenities
None
Construction Materials
Stucco
Roof
Flat
Financial
Taxes
$2,797
Directions
LAKE MEAD & RAINBOW, Take US-95 N to W Lake Mead Blvd in Las Vegas. Follow W Lake Mead Blvd to Lirio Way.
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