Yes- prices are very depressed in all of the area-up to 50%.. Regretfully, rents are also down, but not so much. Unlike many cities, there are not that many 4-10 unit apt. houses, though there are some and usually in the low to medium-rent areas. .Most buildings in the valley are 20-250 units. Price and rents, of course, depends on the neighborhood. To answer you properly, I would need to talk to you to see how many units you are interested in, how much capitol you wish to invest, how do you plan to finance the purchase,what type of neighborhood do you want or will accept, what % of cash flow you expect,etc..
I look foward to assisting you. This is a big city and we can probably find something to fit your criteria.
Steve 702-994-4849 steve@merrellteam.com

Click on the link below and read this blog article that I recently posted titled: Old’ Las Vegas: The Only Homes Actually on the World Famous Strip!

Best of luck and feel free to contact me with any questions that you may have about investing in Las Vegas real estate.

Lexi - I believe LV is one of the best (if not THE best) place for investment proerty in the country right now. Real Estate prices were rediculously high during the "feeding frenzy" in 2005/6 - Prices were actually bid above asking prices. However, the downturn in the economy created a market that I believe has overcorrected prices on the downside. Prices may not return to the 05/06 levels, but they don't need to in order to make outstanding returns for quality property purchased now. I primarily work with investors that give me their criteria (capital appreciation, strong net cash flow, etc.) and I can recommend good buys from $40,000 to the moon. There are several strong areas for investment in Las Vegas - I would want to know more about your plans, time frame and capital before narrowing it down. I wish you the best in your search - follow you instincts! I'd be priveleged to help!

Mark
mark011855@aol.com

Hello Lexi,

There are many areas in Las Vegas that have undervalued property. You are very astute in wishing to purchase your investment property in more central areas of the Las Vegas Valley. If I were your Realtor, I would advise you to concentrate our search in the Master Planned Community of Summerlin. Summerlin was the most popular master planned community in the US for 10 years straight and is still the most desirable community in Las Vegas. There are many opportunities for cash flow on investment property in Summerlin that also have good future appreciation potential as well! Please read my blog below for more information on Summerlin! And feel free to contact me to discuss your purchase of an investment property!

Cordially,
Joseph Ruggeroli
702-523-4953