Sunrise Apartments — Sale in Las Vegas, NV
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Las Vegas, NV 89101
Photos
Investment Figures
- Cap rate
- 6.50%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap, as the exclusive listing broker, is pleased to present Sunrise Apartments, a 56-unit multifamily portfolio centrally located within the Downtown Las Vegas corridor. The six-property community offers a diverse mix of one-, two-, and three-bedroom floor plans designed to accommodate a broad resident base. Extensive renovations completed in 2025 introduced modernized interiors, updated finishes, and enhanced community amenities that create a more attractive and comfortable living environment. The property benefits from strong regional connectivity with convenient access to Interstate 15, Fremont Street, retail centers, employment hubs, and major transportation corridors throughout the Las Vegas Valley. Residents are within close proximity to schools, parks, dining destinations, entertainment venues, and everyday neighborhood services, reinforcing the property’s central location and accessibility. Sunrise Apartments also stands to benefit from the nearby Desert Pines Redevelopment project, which is expected to introduce new housing, parks, commercial uses, and community improvements that further enhance the surrounding area. Sunrise Apartments features upgraded unit interiors designed to appeal to today’s renters through contemporary finishes, functional layouts, and desirable in-unit amenities. Renovated kitchens, updated bathrooms, modern flooring, and on-site laundry contribute to a more convenient and elevated resident experience throughout the portfolio. Combined with its central location, proximity to ongoing redevelopment activity, and attractive assumable financing structure, the property is positioned for continued long-term demand and operational stability. Investment Highlights: • Assumable Financing: Attractive sub-5% interest-only financing available for six years. • Stable Returns: Nearly 12% cash-on-cash returns provide attractive in-place performance supported by favorable financing. • Downtown Connectivity: Sunrise Apartments benefi
Market Context
This multifamily in Las Vegas, NV is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Las Vegas, NV — view the full market.
As of Q1 2026, the Las Vegas multifamily market showed a 10.4% vacancy rate, average asking rents near $1455.50/unit/mo, and cap rates around 5.5%. Source: multiple brokerage reports, Q1 2026.
Its 6.5% asking cap rate is above the Las Vegas multifamily market average of about 5.5%, implying a higher yield (and typically more risk or upside) than comparable assets.
Multifamily market FAQ
- What is the typical cap rate for multifamily in Las Vegas?
- About 5.5% as of Q1 2026, per multiple brokerage reports.
- Is the Las Vegas multifamily market tightening or softening?
- Vacancy is around 10.4% (Q1 2026).
Contact
- Drew Holden · (702) 215-7118 · drew.holden@marcusmillichap.com
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