Quadplex with Coin-Operated
For Sale
$640,000
2252 Ellis Street, North Las Vegas, NV 89030
MULTI_FAMILY - Other - North Las Vegas, NV
Property Size3,008 SF
Lot Size0.19 Acres
Price / SF$212.77
Days on Market11
Property Features for 2252 Ellis Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
6
Interior features
Storage
Appliances
Oven, Range, Refrigerator
Subdivision
Arrowhead Acres Tr
Elementary school
,
Directions
From 1-15 and Lake Mead Blvd, travel E on Lake Mead Blvd, left on Ellis St, and approach 2252 Ellis St.
Standard status
Active
APN
139-24-110-260
Size
3,008 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
1167
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
private exterior storage
large shared storage building
on-site community laundry room
Building Details
Year built
1963
Floors in Building
1
Number of units
4
Flooring type
Tile, Vinyl
Building materials
Stucco, Wood Frame
Roof type
Flat
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Simply Vegas
(702) 568-6800
Listed By:
Catherine Hyde · License #S.0070366
(702) 408-2289
Added: Jul 27
Changed: Aug 2
Last Checked: Aug 6 at 3:06PM
MLS# 2803224
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 quadplex at 2252 Ellis Street was built in 1963 and includes storage features for tenants. The property has remodeled kitchens, upgraded plumbing, regularly serviced A/C units, and energy-efficient double-pane windows throughout. Residents also have access to private exterior storage, a large shared storage building, and an on-site community laundry room. Appliances include an oven, range, and refrigerator, and the home has central heating and central air.
Major capital improvements include a new roof in 2020, a 100-gallon water heater installed in 2023, gas line replacement in 2024, and owned coin-operated laundry added in 2025. The property is served by public water and public sewer.
Set on 0.19 acres, the building totals 3,008 square feet. The flat roof, stucco and wood-frame construction, and tile and vinyl flooring round out the existing improvements.
Major capital improvements include a new roof in 2020, a 100-gallon water heater installed in 2023, gas line replacement in 2024, and owned coin-operated laundry added in 2025. The property is served by public water and public sewer.
Set on 0.19 acres, the building totals 3,008 square feet. The flat roof, stucco and wood-frame construction, and tile and vinyl flooring round out the existing improvements.
Key Highlights
- 0.19‑acre quadplex totaling 3,008 SF
- Built in 1963 with tile and vinyl flooring and flat roof
- Remodeled kitchens, upgraded plumbing, serviced A/C, and energy‑efficient double‑pane windows
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
$34,256
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
5.35%
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%
$685,120
$685.1K
Cap Rate 7%
$489,371
$489.4K
Cap Rate 9%
$380,622
$380.6K
Market Conditions
NOI Build-Up for 3,008 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
$52.3K $17.40/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$48.9K $16.27/SF
− OpEx
−$14.7K −$4.88/SF
NOI
$34.3K $11.39/SF
Area
North Las Vegas, NV
Vacancy
6.50%
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%
$685,120
Cap Rate 7%
$489,371
Cap Rate 9%
$380,622
Alternative Uses
Best Use
Multifamily LT 5
$489.4K
$428.2K – $570.9K
NOI $34,256 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$452.2K
$395.7K – $527.6K
NOI $31,657 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$814.0K
$712.3K – $949.7K
NOI $56,981 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Explore this area
Business Placement
Demographics for 89030, NV
56,399
Population
16,632
Households
3.4
Avg Household Size
30
Median Age
5%
College-Educated
58%
High-School Grad
9.5 sq mi
ZIP Area
5,937
Density / Sq Mi
$46,204
Median Household Income
$31,787
Median Earnings
$1,139
Median Rent
$237,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex built in 1963 with remodeled interiors and owned coin-operated laundry plus private exterior storage for residents.
Where is this quadplex located?
The property is located at 2252 Ellis Street North Las Vegas, NV.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: 0.19‑acre quadplex totaling 3,008 SF; Built in 1963 with tile and vinyl flooring and flat roof; Remodeled kitchens, upgraded plumbing, serviced A/C, and energy‑efficient double‑pane windows
