MULTI FAM LAS VEGAS ZIP CODES 89104/89115/89108

[Jeremy Spiegel]

Hello, I am an out of state investor looking into investing in a multi-family property in Las Vegas. 

I have looked at a few listings, in these zip codes

89104

89115

89108. 

Looking for local intel on these areas and insight into investing in these areas. Would appreciate your feedback on these areas and also advice on the best areas to buy multi-fam in Las Vegas. 

[Casey Powers]

Originally posted by @Michael Robbins:

@Jeremy Spiegel I recently compared a fourplex deal to that of buying individual condominiums in the 89108 zip.  My finding is that the math works out very similar in terms of cashflow (at least in my one comparison).  One advantage of the fourplex vs four individual condos is you will only have one roof repair and some other common repairs.  I like the four individual condos because it allows for more options (easier to find something built newer than the late 80s) and ability to purchase in a few different locations.  I would be a bit weary on some condo communities because we are the mercy of how well the community is managed.  For example, does the trash get picked up regularly, is there a porter, what about pet waste, etc... I myself manage mostly single family homes and I own a few rental properties (all in Henderson and all single family homes).  I have not ventured out into condos or multifamily.   

Typically no roof repairs on condos. HOA typically covers that because it's a common expense.
SFR performs better overall in Las Vegas. Which of course is contrary to the "popular" belief on BiggerPockets. Lol