Fourplex with Updated Two-Bedroom
For Sale
$650,000
4961 Apollostar Court, Las Vegas, NV 89115
MULTI_FAMILY - Other - Las Vegas, NV
Property Size3,290 SF
Lot Size0.34 Acres
Price / SF$197.57
Days on Market111
Property Features for 4961 Apollostar Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Exhaust Fan, Oven, Range, Range Hood
Subdivision
B & D Estate 2
Elementary school
,
Directions
From Lake Mead/Nellis, north on Nellis to Holt. Left on Holt to Oceanus, right to Apollostar. 4961 Apollo Star Court.
Standard status
Active
APN
140-20-612-001
Size
3,290 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
1595
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
private storage closet
Building Details
Year built
1982
Floors in Building
2
Number of units
4
Flooring type
Tile, Carpet
Building materials
Wood Siding
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Fathom Realty
(888) 455-6040
Listed By:
Maria G. Cegarra Guillen · License #S.0193735
(702) 936-9885
Added: Apr 26
Changed: Aug 14
Last Checked: Aug 14 at 3:06PM
MLS# 2775133
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 no-HOA fourplex offers four updated units, each with two bedrooms and one bathroom, along with a private storage closet. The exterior is described as low-maintenance, supporting straightforward day-to-day ownership or tenancy.
Built in 1982, the property sits on a 0.34-acre lot and totals 3,290 square feet. Construction materials include wood siding, and the roof is composition/shingle. Inside, units feature tile and carpet flooring, with central electric heating and central air cooling. Public water and public sewer service are provided.
Appliances noted include an exhaust fan, oven, range, and range hood. Buyer and buyer’s agent should verify all information, including any details not covered here.
Built in 1982, the property sits on a 0.34-acre lot and totals 3,290 square feet. Construction materials include wood siding, and the roof is composition/shingle. Inside, units feature tile and carpet flooring, with central electric heating and central air cooling. Public water and public sewer service are provided.
Appliances noted include an exhaust fan, oven, range, and range hood. Buyer and buyer’s agent should verify all information, including any details not covered here.
Key Highlights
- No‑HOA fourplex with four 2‑bedroom, 1‑bath units
- Each unit includes a private storage closet
- Recently updated units with low‑maintenance exterior
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
$35,369
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
5.44%
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%
$707,380
$707.4K
Cap Rate 7%
$505,271
$505.3K
Cap Rate 9%
$392,989
$393.0K
Market Conditions
NOI Build-Up for 3,290 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
$53.3K $16.20/SF
− Vacancy
−$2.8K −$0.84/SF
EGI
$50.5K $15.36/SF
− OpEx
−$15.2K −$4.61/SF
NOI
$35.4K $10.75/SF
Area
ZIP 89115
Vacancy
5.20%
Lease Rate
$16.20 /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%
$707,380
Cap Rate 7%
$505,271
Cap Rate 9%
$392,989
Alternative Uses
Best Use
Multifamily LT 5
$505.3K
$442.1K – $589.5K
NOI $35,369 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$466.6K
$408.3K – $544.4K
NOI $32,661 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$983.6K
$860.7K – $1.15M
NOI $68,853 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Explore this area
Business Placement
Demographics for 89115, NV
67,043
Population
21,670
Households
3.1
Avg Household Size
29
Median Age
9%
College-Educated
70%
High-School Grad
24.9 sq mi
ZIP Area
2,692
Density / Sq Mi
$49,648
Median Household Income
$32,198
Median Earnings
$1,294
Median Rent
$258,900
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 - No-HOA fourplex on a 0.34-acre lot with recently updated 2-bedroom, 1-bath units and private storage closets.
Where is this quadplex located?
The property is located at 4961 Apollostar Court Las Vegas, NV.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: No‑HOA fourplex with four 2‑bedroom, 1‑bath units; Each unit includes a private storage closet; Recently updated units with low‑maintenance exterior
