Updated Quadplex with H-1
For Sale
$1,310,000
1153 Sierra Vista Drive, Las Vegas, NV 89169
Residential, Las Vegas, NV
Property Size4,274 SF
Lot Size0.17 Acres
Price / SF$306.50
Days on Market53
Property Features for 1153 Sierra Vista Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Maryland Gardens
Elementary school
,
Directions
FROM MARYLAND PRKW, EAST ON DESERT INN, RIGHT ON 1ST STREET-SIERRA VISTA, 1153 WILL BE ON THE LEFT JUST ACCROSS FROM WELLS FARGO BANK
Standard status
Active
APN
162-15-511-009
Size
4,274 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2015
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
pool
laundry facility
Building Details
Year built
1963
Floors in Building
2
Number of units
4
Building materials
Block
Roof type
Tile
Architectural style
Other
Listing Agency:
Signature Real Estate Group
(702) 799-9598
Listed By:
Mark Anthony A. Posner · License #BS.0147064
(702) 343-9709
Added: Jul 20
Changed: Aug 19
Last Checked: Sep 10 at 1:06PM
MLS# 2801616
Copyright © 2026 Las Vegas REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,274-square-foot quadplex contains four residential units and is fully occupied by tenants participating in the Section 8 program. The property was built in 1963 and has been updated with new HVAC and air-conditioning units. Construction is block, with central electric heating, central air, a tile roof, and public water and sewer service.
The property carries H-1 zoning, identified as Limited Resort & Apartment zoning in the source information. Residents have access to a shared swimming pool and coin-operated laundry facility. There is no HOA. An adjacent 4-plex and a nearby H-1-zoned parcel are also offered for purchase, creating the option to evaluate the properties individually or as a larger assemblage, subject to applicable governmental approvals.
The property carries H-1 zoning, identified as Limited Resort & Apartment zoning in the source information. Residents have access to a shared swimming pool and coin-operated laundry facility. There is no HOA. An adjacent 4-plex and a nearby H-1-zoned parcel are also offered for purchase, creating the option to evaluate the properties individually or as a larger assemblage, subject to applicable governmental approvals.
Key Highlights
- 4,274‑square‑foot quadplex on a 0.17‑acre lot
- Four fully occupied residential units with Section 8 tenants
- H‑1 (Limited Resort & Apartment) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,194
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$983,880
$983.9K
Cap Rate 7%
$702,771
$702.8K
Cap Rate 9%
$546,600
$546.6K
Market Conditions
NOI Build-Up for 4,274 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.4K $17.40/SF
− Vacancy
−$4.1K −$0.96/SF
EGI
$70.3K $16.44/SF
− OpEx
−$21.1K −$4.93/SF
NOI
$49.2K $11.51/SF
Area
Las Vegas, NV
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$983,880
Cap Rate 7%
$702,771
Cap Rate 9%
$546,600
Alternative Uses
Best Use
Multifamily LT 5
$702.8K
$614.9K – $819.9K
NOI $49,194 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$649.4K
$568.3K – $757.7K
NOI $45,461 @ 7.0% cap · market cap 3.47%
Theoretical Best
Specialty Retail
$1.48M
$1.29M – $1.72M
NOI $103,379 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,193
Businesses Nearby
Explore this area
Business Placement
Demographics for 89169, NV
25,938
Population
14,070
Households
1.8
Avg Household Size
36
Median Age
19%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
7,629
Density / Sq Mi
$39,740
Median Household Income
$32,457
Median Earnings
$1,159
Median Rent
$299,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit property with updated systems, shared amenities, and public utilities in Las Vegas.
Where is this quadplex located?
The property is located at 1153 Sierra Vista Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,310,000.
What are key features of this property?
This property features: 4,274‑square‑foot quadplex on a 0.17‑acre lot; Four fully occupied residential units with Section 8 tenants; H‑1 (Limited Resort & Apartment) zoning
