Section 8-Participating
For Sale
$1,310,000
1153 Sierra Vista Drive, Las Vegas, NV 89169
Fully occupied quadplex in H-1 zoning with shared pool and coin-operated laundry, plus new HVAC and Section 8 tenant participation.
Property Size4,274 SF
Days on Market86
Property Features for 1153 Sierra Vista Drive
General Information
Standard status
Active
Size
4,274 SF
Property subtype
Multi Family
Zoning
H-1
Occupancy
100%
Net Operating Income
$84,205
Additional Details
Cap Rate
6.4%
Taxes and HOA fees
Annual Taxes
$2,015
Amenities
shared swimming pool
shared coin-operated laundry facility
Building Details
Building Size
4,274 SF
Year Built
1963
Buildings
1
Tenancy
Multi
Listing Agency:
Signature Real Estate Group
Listed By:
Mark Anthony A. Posner · License #BS.0147064
(702) 343-9709
Source:
Virtuelre
Added: Jul 20
Changed: Oct 4
Last Checked: Oct 13 at 1:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Signature Real Estate Group
Investment Insights
Based on property information with market context.
A fully occupied quadplex with all tenants participating in the Section 8 program, offering immediate rental stability. The property is well maintained and has been updated with all new HVAC/air conditioning units to help minimize future capital expenditures. Residents have access to a shared swimming pool and a shared coin-operated laundry facility.
The building is in H-1 (Limited Resort & Apartment) zoning. With no HOA, operating costs can be managed without HOA-related expenses. The property has a stated net operating income (NOI) of $84,205 and a stated approximately 6.4% cap rate based on the current list price.
Year built is 1963. The bike score is 52 (Bikeable), walk score is 81 (Very Walkable), and transit score is 49 (Some Transit).
The building is in H-1 (Limited Resort & Apartment) zoning. With no HOA, operating costs can be managed without HOA-related expenses. The property has a stated net operating income (NOI) of $84,205 and a stated approximately 6.4% cap rate based on the current list price.
Year built is 1963. The bike score is 52 (Bikeable), walk score is 81 (Very Walkable), and transit score is 49 (Some Transit).
Key Highlights
- Fully occupied quadplex with all tenants participating in Section 8
- H‑1 (Limited Resort & Apartment) zoning with no HOA
- All new HVAC/air conditioning units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,194
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,193
Businesses Nearby
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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
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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 quadplex in H-1 zoning with shared pool and coin-operated laundry, plus new HVAC and Section 8 tenant participation.
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: Fully occupied quadplex with all tenants participating in Section 8; H‑1 (Limited Resort & Apartment) zoning with no HOA; All new HVAC/air conditioning units
