H-1 Zoned
For Sale
$1,310,000
1165 Sierra Vista Drive, Las Vegas, NV 89169
Fully occupied 4-plex with H-1 zoning and Section 8 tenants, plus shared amenities and no HOA.
Property Size4,002 SF
Days on Market51
Property Features for 1165 Sierra Vista Drive
General Information
Standard status
Active
Size
4,002 SF
Property subtype
Multi Family
Zoning
H-1
Occupancy
100%
Net Operating Income
$82,723
Additional Details
Cap Rate
6.3%
Taxes and HOA fees
Annual Taxes
$1,836
Amenities
shared swimming pool
shared coin-operated laundry facility
Building Details
Building Size
4,002 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:
Vicerealtygroup
Added: Jul 20
Changed: Sep 3
Last Checked: Sep 8 at 12:45PM
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.
This fully occupied 4-plex at 1165 Sierra Vista Dr (Las Vegas, NV 89169) offers rental stability with all tenants participating in the Section 8 program. Built in 1963, the property is described as well maintained and recently updated, including all new HVAC/air conditioning units to help minimize future capital expenditures.
Community features include access to a shared swimming pool and a shared coin-operated laundry facility, supporting additional on-site amenity utility. The property is also noted as having no HOA, which can help keep operating structure straightforward.
The asset is highlighted for its H-1 (Limited Resort & Apartment) zoning. bikeScore: 52, Bikeable; walkScore: 81, Very Walkable; transitScore: 49, Some Transit.
Community features include access to a shared swimming pool and a shared coin-operated laundry facility, supporting additional on-site amenity utility. The property is also noted as having no HOA, which can help keep operating structure straightforward.
The asset is highlighted for its H-1 (Limited Resort & Apartment) zoning. bikeScore: 52, Bikeable; walkScore: 81, Very Walkable; transitScore: 49, Some Transit.
Key Highlights
- Fully occupied 4‑plex with all tenants in the Section 8 program
- H‑1 (Limited Resort & Apartment) zoning
- All new HVAC/air conditioning units installed
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
$46,063
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
3.52%
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%
$921,260
$921.3K
Cap Rate 7%
$658,043
$658.0K
Cap Rate 9%
$511,811
$511.8K
Market Conditions
NOI Build-Up for 4,002 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
$69.6K $17.40/SF
− Vacancy
−$3.8K −$0.96/SF
EGI
$65.8K $16.44/SF
− OpEx
−$19.7K −$4.93/SF
NOI
$46.1K $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%
$921,260
Cap Rate 7%
$658,043
Cap Rate 9%
$511,811
Alternative Uses
Best Use
Multifamily LT 5
$658.0K
$575.8K – $767.7K
NOI $46,063 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$608.1K
$532.1K – $709.5K
NOI $42,568 @ 7.0% cap · market cap 3.25%
Theoretical Best
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,800 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,193
Businesses Nearby
Explore this area
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
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 - Fully occupied 4-plex with H-1 zoning and Section 8 tenants, plus shared amenities and no HOA.
Where is this quadplex located?
The property is located at 1165 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 4‑plex with all tenants in the Section 8 program; H‑1 (Limited Resort & Apartment) zoning; All new HVAC/air conditioning units installed
