Fourplex with Updated 2BR/2BA
For Sale
$695,000
6952 Issac Ave, Las Vegas, NV 89156
Fourplex with four 2-bedroom, 2-bath units, including one extensively updated for modern, low-maintenance living.
Property Size3,692 SF
Days on Market88
Property Features for 6952 Issac Ave
General Information
Standard status
Active
Size
3,692 SF
Property subtype
Multi Family
Additional Details
Cap Rate
8%
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,859
Building Details
Building Size
3,692 SF
Year Built
1983
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Vegas Valley Property Management
(702) 219-3128
Listed By:
Brian P. Bauchman · License #B.1000882
(702) 219-3128
Source:
Elliman
Added: Jun 3
Changed: Aug 21
Last Checked: Aug 26 at 12:52PM
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 Vegas Valley Property Management
Investment Insights
Based on property information with market context.
This fourplex contains four spacious 2-bedroom, 2-bathroom units. One unit has been extensively updated with a modern kitchen featuring shaker-style cabinetry, quartz countertops, recessed lighting, and contemporary finishes throughout. Additional improvements include luxury vinyl plank flooring, fresh interior paint, updated bathroom vanities, and remodeled walk-in showers with custom tile surrounds and glass enclosures. The remaining three units feature durable laminate flooring and are positioned for simple, low-maintenance occupancy, while the exterior of the building has been recently painted.
Second-floor units provide mountain and Las Vegas Strip views. The property is located near Nellis Air Force Base, along with shopping, dining, schools, and major transportation routes, supporting convenient day-to-day access for tenants.
For investors or owner-operators, this is a four-unit income property with an estimated cap rate approaching eight percent at full occupancy, according to the provided remarks. The mix of an upgraded unit and three lower-maintenance interiors may help broaden tenant appeal while keeping ongoing upkeep more predictable.
Second-floor units provide mountain and Las Vegas Strip views. The property is located near Nellis Air Force Base, along with shopping, dining, schools, and major transportation routes, supporting convenient day-to-day access for tenants.
For investors or owner-operators, this is a four-unit income property with an estimated cap rate approaching eight percent at full occupancy, according to the provided remarks. The mix of an upgraded unit and three lower-maintenance interiors may help broaden tenant appeal while keeping ongoing upkeep more predictable.
Key Highlights
- Fourplex built in 1983 with four 2‑bedroom, 2‑bath units
- One unit extensively updated with modern kitchen (shaker‑style cabinetry and quartz countertops) and recessed lighting
- Updated unit includes luxury vinyl plank flooring, fresh interior paint, updated bathroom vanities, and remodeled walk‑in showers with custom tile and glass enclosures
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
$42,495
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
6.11%
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%
$849,900
$849.9K
Cap Rate 7%
$607,071
$607.1K
Cap Rate 9%
$472,167
$472.2K
Market Conditions
NOI Build-Up for 3,692 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
$64.2K $17.40/SF
− Vacancy
−$3.5K −$0.96/SF
EGI
$60.7K $16.44/SF
− OpEx
−$18.2K −$4.93/SF
NOI
$42.5K $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%
$849,900
Cap Rate 7%
$607,071
Cap Rate 9%
$472,167
Alternative Uses
Best Use
Multifamily LT 5
$607.1K
$531.2K – $708.3K
NOI $42,495 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$561.0K
$490.9K – $654.5K
NOI $39,270 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,302 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 89156, NV
30,067
Population
10,413
Households
2.9
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
44.7 sq mi
ZIP Area
673
Density / Sq Mi
$69,783
Median Household Income
$36,342
Median Earnings
$1,354
Median Rent
$288,800
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 - Fourplex with four 2-bedroom, 2-bath units, including one extensively updated for modern, low-maintenance living.
Where is this quadplex located?
The property is located at 6952 Issac Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Fourplex built in 1983 with four 2‑bedroom, 2‑bath units; One unit extensively updated with modern kitchen (shaker‑style cabinetry and quartz countertops) and recessed lighting; Updated unit includes luxury vinyl plank flooring, fresh interior paint, updated bathroom vanities, and remodeled walk‑in showers with custom tile and glass enclosures
