Furnished
For Sale
Contact for pricing
1215 RAWHIDE ST, Las Vegas, NV 89119
Four residences combine established tenancy with flexible rental options.
Property Size4,000 SF
Price / SF$223.75
Days on Market8
Property Features for 1215 RAWHIDE ST
General Information
Standard status
Active
Size
4,000 SF
Class
B
Total Parking Spaces
7
Property subtype
Multifamily
Investment Type
Stabilized
Net Operating Income
$53,700
Additional Details
Furnished
Yes
Cap Rate
6%
Multifamily Units
4
Building Details
Year Built
1984
Year Renovated
2019
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Executive Realty Services
Listed By:
Cici Cong · License #S.0180161
Source:
Crexi
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 8:13PM
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 Executive Realty Services
Investment Insights
Based on property information with market context.
This four-unit residential income property was built in 1984 and is offered fully furnished. The configuration supports short-term, mid-term, or long-term rental strategies, with one unit positioned for immediate owner occupancy or lease-up before closing. The other three units are occupied by long-term tenants with staggered lease expirations, providing an established operating profile and varied turnover timing.
The property is located at 1215 Rawhide St in Las Vegas, near the airport, and carries no HOA. The offering reflects a reported approximately 6% CAP rate and includes furnishing across all four units, allowing a buyer to acquire an operating property with existing tenancy and multiple rental-term options.
The property is located at 1215 Rawhide St in Las Vegas, near the airport, and carries no HOA. The offering reflects a reported approximately 6% CAP rate and includes furnishing across all four units, allowing a buyer to acquire an operating property with existing tenancy and multiple rental-term options.
Key Highlights
- Four‑unit quadplex with all units furnished
- Approximately 6% CAP rate
- No HOA
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
$46,040
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
5.14%
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%
$920,800
$920.8K
Cap Rate 7%
$657,714
$657.7K
Cap Rate 9%
$511,556
$511.6K
Market Conditions
NOI Build-Up for 4,000 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
$46.0K $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%
$920,800
Cap Rate 7%
$657,714
Cap Rate 9%
$511,556
Alternative Uses
Best Use
Multifamily LT 5
$657.7K
$575.5K – $767.3K
NOI $46,040 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$607.8K
$531.8K – $709.1K
NOI $42,546 @ 7.0% cap · market cap 4.75%
Theoretical Best
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,752 @ 7.0% cap · market cap 10.81%
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
453
Businesses Nearby
Explore this area
Business Placement
Demographics for 89119, NV
48,895
Population
24,756
Households
2
Avg Household Size
36
Median Age
20%
College-Educated
84%
High-School Grad
12.9 sq mi
ZIP Area
3,790
Density / Sq Mi
$46,472
Median Household Income
$32,590
Median Earnings
$1,184
Median Rent
$301,000
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 residences combine established tenancy with flexible rental options.
Where is this quadplex located?
The property is located at 1215 RAWHIDE ST Las Vegas, NV.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Four‑unit quadplex with all units furnished; Approximately 6% CAP rate; No HOA
