Las Vegas Quadplex Investment
For Sale
$650,000
4796 Nova Ln, Las Vegas, NV 89115
Well-maintained quadplex with remodeled units and no HOA.
Property Size3,290 SF
Days on Market84
Property Features for 4796 Nova Ln
General Information
Standard status
Active
Size
3,290 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,641
Building Details
Building Size
3,290 SF
Year Built
1983
Stories
2
Units
4
Listing Agency:
Rothwell Gornt Companies
(702) 217-1048
Listed By:
Ryan Crighton · License #BS.0000254
(702) 217-1048
Source:
Elliman
Added: May 20
Changed: Aug 8
Last Checked: Aug 11 at 8:16AM
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 Rothwell Gornt Companies
Investment Insights
Based on property information with market context.
This investment opportunity features a well-maintained quadplex in the Las Vegas market. The property consists of four spacious units, each with 2 bedrooms and 1 bathroom. Each unit includes a storage closet for tenants. Two units have been newly remodeled. Located conveniently, the fourplex offers access to local amenities, shopping centers, and public transportation. The property has a walk score of 60, indicating it is somewhat walkable, a bike score of 46, indicating it is somewhat bikeable, and a transit score of 43, indicating some transit options are available. There is no HOA fee.
Key Highlights
- Four spacious 2 bedrooms/ 1 bathroom units.
- Two newly remodeled units.
- Strong rental potential in the Las Vegas market.
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
$35,369
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
5.44%
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%
$707,380
$707.4K
Cap Rate 7%
$505,271
$505.3K
Cap Rate 9%
$392,989
$393.0K
Market Conditions
NOI Build-Up for 3,290 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
$53.3K $16.20/SF
− Vacancy
−$2.8K −$0.84/SF
EGI
$50.5K $15.36/SF
− OpEx
−$15.2K −$4.61/SF
NOI
$35.4K $10.75/SF
Area
ZIP 89115
Vacancy
5.20%
Lease Rate
$16.20 /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%
$707,380
Cap Rate 7%
$505,271
Cap Rate 9%
$392,989
Alternative Uses
Best Use
Multifamily LT 5
$505.3K
$442.1K – $589.5K
NOI $35,369 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$466.6K
$408.3K – $544.4K
NOI $32,661 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$983.6K
$860.7K – $1.15M
NOI $68,853 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 89115, NV
67,043
Population
21,670
Households
3.1
Avg Household Size
29
Median Age
9%
College-Educated
70%
High-School Grad
24.9 sq mi
ZIP Area
2,692
Density / Sq Mi
$49,648
Median Household Income
$32,198
Median Earnings
$1,294
Median Rent
$258,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained quadplex with remodeled units and no HOA.
Where is this quadplex located?
The property is located at 4796 Nova Ln Las Vegas, NV.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four spacious 2 bedrooms/ 1 bathroom units.; Two newly remodeled units.; Strong rental potential in the Las Vegas market.
