Las Vegas Multi-Family Properties For Sale

While there are many opportunities for Las Vegas real estate investors in the Multi-Family market, first-time homebuyers can also take advantage of the affordable home prices by securing a low downpayment mortgage on a 2-4 unit complex.

Obviously, check with your trusted mortgage advisor about the qualifying guidelines first, but one of our local lending professionals mentioned to me this week that he still has FHA programs available with as little as 3.5% down on housing complexes up to 4 units.

The main requirement is that the borrower lives in one of the units as their primary residence.

And with multi-family properties ranging in price from below $100,000 to $450,000 in Clark County, the potential rental income possibilites for both investors and primary buyers might make sense.

I asked for a quick quote from our property management division on a 2 bedroom unit in a 4-plex, and was told that rental rates could range from $600-$800 per month.

Basically, if a buyer lived in one of the units and rented out the other three, depending on the loan amount and interest rate, the homeowner might find themselves in a situation where most or all of their monthly mortgage payment was covered by the other tenants’ rents.

However, there are a few issues to discuss with your agent and mortgage professional:

  • HOA dues and budgets
  • Qualifying based on rental income
  • The length of time the borrower has to occupy the property as their primary residence
  • Hire a property manager or handle the tenant leasing responsibilities yourself
  • Monthly budget needed for maintenance

There are probably another 12-15 questions I could come up with, which is why it’s important to work with an agent and loan officer that has experience dealing with multi-family properties in the Las Vegas or Henderson areas.

While the “primary residence” angle on a multi-family unit is not necessarily something that most of our real estate clients would consider since there are single family properties at such low prices right now, it does fill a special need for buyers who can qualify for a mortgage but would prefer to rent a condo.

The following map highlights all of the available multi-family properties for sale in Las Vegas and Henderson:

  1. 0 beds, 0 bath
    Home size: 1,846 sq ft
    Lot size: 6,534 sqft
    Year built: 1958
    Days on market: 2
  2. 0 beds, 0 bath
    Lot size: 6,969 sqft
    Year built: 1951
    Days on market: 2
  3. 0 beds, 0 bath
    Lot size: 6.00 ac
    Year built: 1972
    Days on market: 5
  4. 0 beds, 0 bath
    Home size: 1,800 sq ft
    Year built: 1981
    Days on market: 5
  5. 0 beds, 0 bath
    Home size: 3,196 sq ft
    Lot size: 7,405 sqft
    Year built: 1963
    Days on market: 7
  6. 0 beds, 0 bath
    Home size: 3,196 sq ft
    Lot size: 7,405 sqft
    Year built: 1962
    Days on market: 7
  7. 0 beds, 0 bath
    Home size: 2,035 sq ft
    Lot size: 6,534 sqft
    Year built: 1948
    Days on market: 8
  8. 0 beds, 0 bath
    Home size: 5,680 sq ft
    Lot size: 1.24 ac
    Year built: 1947
    Days on market: 8
  9. 0 beds, 0 bath
    Home size: 1,040 sq ft
    Lot size: 6,098 sqft
    Year built: 1961
    Days on market: 11
  10. 0 beds, 0 bath
    Home size: 830 sq ft
    Lot size: 13,068 sqft
    Year built: 1947
    Days on market: 12
  11. 0 beds, 0 bath
    Home size: 4,244 sq ft
    Lot size: 7,405 sqft
    Year built: 1990
    Days on market: 13
  12. 0 beds, 0 bath
    Home size: 2,964 sq ft
    Lot size: 6,534 sqft
    Year built: 1946
    Days on market: 14
  13. 0 beds, 0 bath
    Home size: 1,248 sq ft
    Lot size: 6,534 sqft
    Year built: 1951
    Days on market: 15
  14. 0 beds, 0 bath
    Home size: 4,152 sq ft
    Lot size: 6,969 sqft
    Year built: 1983
    Days on market: 23
  15. 0 beds, 0 bath
    Home size: 1,237 sq ft
    Lot size: 1.40 ac
    Year built: 1978
    Days on market: 33
  16. 0 beds, 0 bath
    Home size: 3,660 sq ft
    Lot size: 9,583 sqft
    Year built: 1951
    Days on market: 34
  17. 0 beds, 0 bath
    Home size: 3,976 sq ft
    Lot size: 7,840 sqft
    Year built: 1984
    Days on market: 35
  18. 0 beds, 0 bath
    Home size: 3,500 sq ft
    Lot size: 6,969 sqft
    Year built: 1981
    Days on market: 37
  19. 0 beds, 0 bath
    Home size: 6,372 sq ft
    Lot size: 14,810 sqft
    Year built: 1996
    Days on market: 37
  20. 0 beds, 0 bath
    Home size: 3,720 sq ft
    Lot size: 10,454 sqft
    Year built: 1978
    Days on market: 40
  21. 0 beds, 0 bath
    Home size: 5,720 sq ft
    Year built: 2001
    Days on market: 43
  22. 0 beds, 0 bath
    Home size: 1,716 sq ft
    Lot size: 5,662 sqft
    Year built: 1958
    Days on market: 44
  23. 0 beds, 0 bath
    Home size: 1,680 sq ft
    Lot size: 6,098 sqft
    Year built: 1962
    Days on market: 44
  24. 0 beds, 0 bath
    Home size: 1,378 sq ft
    Lot size: 18,295 sqft
    Year built: 1969
    Days on market: 46
  25. 0 beds, 0 bath
    Home size: 1,815 sq ft
    Lot size: 7,840 sqft
    Year built: 1952
    Days on market: 48

See all Las Vegas Multi-Family Property Listings.
(all data current as of 7/26/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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