Quadplex with Remodeled
New
For Sale
$825,000
855 Del Rey Drive, Boulder City, NV 89005
MULTI_FAMILY - Other - Boulder City, NV
Property Size3,804 SF
Lot Size0.26 Acres
Price / SF$216.88
Days on Market6
Property Features for 855 Del Rey Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Covered
Window features
Blinds
Interior features
Ceiling Fan(s), Storage, Window Treatments
Appliances
Dryer, Dishwasher, Exhaust Fan, Disposal, Oven, Range, Refrigerator, Range Hood, Washer
Subdivision
Boulder City #06
Elementary school
,
Directions
SOUTH ON BUCHANAN LEFT ON ADAMS LEFT ON COTTONWOOD LEFT ON DEL REY
Standard status
Active
APN
186-08-710-006
Size
3,804 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
2872
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer
storage room
Building Details
Year built
1983
Floors in Building
2
Number of units
4
Flooring type
Vinyl
Building materials
Stucco, Wood Frame
Roof type
Shingle, Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
RE/MAX United · RE/MAX International
(702) 749-7070
Listed By:
Jui Ting Weng · License #B.0145279
(702) 466-2868
Added: Aug 1
Changed: Aug 3
Last Checked: Aug 6 at 12:06PM
MLS# 2805324
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 includes four residential units in a well-maintained property built in 1983. Each unit is a two-bedroom, two-bath layout and includes its own washer and dryer. Updates include laminated wood flooring and new paint. Interior features include storage and window treatments, with ceiling fans in the units.
Parking is supported with covered spaces, and there is also a storage room located in the back of the property. The building uses central electric heating and central air cooling. Public water service and public sewer service are available, and the roof is composition/shingle.
The property is offered without an HOA.
Parking is supported with covered spaces, and there is also a storage room located in the back of the property. The building uses central electric heating and central air cooling. Public water service and public sewer service are available, and the roof is composition/shingle.
The property is offered without an HOA.
Key Highlights
- Four‑unit quadplex built in 1983
- Each unit is 2 bed, 2 bath with in‑unit washer and dryer
- Remodel updates include laminated wood flooring and new paint
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
$49,982
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
6.06%
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%
$999,640
$999.6K
Cap Rate 7%
$714,029
$714.0K
Cap Rate 9%
$555,356
$555.4K
Market Conditions
NOI Build-Up for 3,804 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
$75.3K $19.80/SF
− Vacancy
−$3.9K −$1.03/SF
EGI
$71.4K $18.77/SF
− OpEx
−$21.4K −$5.63/SF
NOI
$50.0K $13.14/SF
Area
Clark County, NV
Vacancy
5.20%
Lease Rate
$19.80 /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%
$999,640
Cap Rate 7%
$714,029
Cap Rate 9%
$555,356
Alternative Uses
Best Use
Multifamily LT 5
$714.0K
$624.8K – $833.0K
NOI $49,982 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$640.6K
$560.5K – $747.3K
NOI $44,840 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$987.2K
$863.8K – $1.15M
NOI $69,102 @ 7.0% cap · market cap 8.38%
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
1,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 89005, NV
14,941
Population
7,437
Households
2
Avg Household Size
54
Median Age
31%
College-Educated
97%
High-School Grad
92.3 sq mi
ZIP Area
162
Density / Sq Mi
$68,832
Median Household Income
$42,736
Median Earnings
$1,376
Median Rent
$424,200
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 - Four units offer two bedrooms, two baths, in-unit washer and dryer, and covered parking with added storage.
Where is this quadplex located?
The property is located at 855 Del Rey Drive Boulder City, NV.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1983; Each unit is 2 bed, 2 bath with in‑unit washer and dryer; Remodel updates include laminated wood flooring and new paint
