Tenant-Occupied
For Sale
$421,000
1037 June Avenue, Las Vegas, NV 89104
Residential, Las Vegas, NV
Property Size1,292 SF
Lot Size0.14 Acres
Price / SF$325.85
Days on Market96
Property Features for 1037 June Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Dryer, Disposal, Refrigerator, Washer
Subdivision
Meadow Acres Amd
Elementary school
,
Directions
From Buffalo Dr., take E Summerlin Pkwy., US 95 S and take exit 72 Charleston, turn R onto E Charleston, L onto June, R onto Center Dr. end at June.
Standard status
Active
APN
161-06-110-165
Size
1,292 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
527
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1951
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Stucco, Wood Frame
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Realty ONE Group, Inc
(702) 898-0101
Listed By:
Daniela Mejia · License #S.0063711
(702) 273-8221
Added: Jun 24
Changed: Sep 12
Last Checked: Sep 27 at 2:06PM
MLS# 2794402
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 duplex at 1037 June Avenue contains 1,292 square feet on a 0.14-acre lot, with two residential units currently occupied by tenants. Built in 1951, the property features stucco and wood-frame construction, tile flooring, composition and shingle roofing, central heating, electric heat, and central air conditioning. Unit appliances include washers, dryers, refrigerators, and disposals.
The property is served by public water and public sewer and includes ample parking. Its Las Vegas location places it near the Las Vegas Strip, Downtown Las Vegas, and nearby freeway access. There is no HOA. The property is in ZIP Code 89104 in Clark County.
The property is served by public water and public sewer and includes ample parking. Its Las Vegas location places it near the Las Vegas Strip, Downtown Las Vegas, and nearby freeway access. There is no HOA. The property is in ZIP Code 89104 in Clark County.
Key Highlights
- Two‑unit duplex with both residences currently tenant‑occupied
- 1,292 square feet on a 0.14‑acre lot
- Built in 1951 with stucco and wood‑frame construction
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
$14,871
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
3.53%
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%
$297,420
$297.4K
Cap Rate 7%
$212,443
$212.4K
Cap Rate 9%
$165,233
$165.2K
Market Conditions
NOI Build-Up for 1,292 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
$22.5K $17.40/SF
− Vacancy
−$1.2K −$0.96/SF
EGI
$21.2K $16.44/SF
− OpEx
−$6.4K −$4.93/SF
NOI
$14.9K $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%
$297,420
Cap Rate 7%
$212,443
Cap Rate 9%
$165,233
Alternative Uses
Best Use
Multifamily LT 5
$212.4K
$185.9K – $247.9K
NOI $14,871 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$196.3K
$171.8K – $229.0K
NOI $13,742 @ 7.0% cap · market cap 3.26%
Theoretical Best
Specialty Retail
$446.4K
$390.6K – $520.9K
NOI $31,251 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Explore this area
Business Placement
Demographics for 89104, NV
41,662
Population
16,704
Households
2.5
Avg Household Size
38
Median Age
15%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
7,309
Density / Sq Mi
$50,945
Median Household Income
$34,278
Median Earnings
$1,138
Median Rent
$298,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residential units with ample parking and no HOA requirement.
Where is this duplex located?
The property is located at 1037 June Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $421,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences currently tenant‑occupied; 1,292 square feet on a 0.14‑acre lot; Built in 1951 with stucco and wood‑frame construction
