Updated 4-Plex with Private Yard
For Sale
$599,999
1711 Santa Paula Dr, Las Vegas, NV 89104
Updated 4-plex features four 2-bedroom, 1-bath units with private balconies and assigned resident parking.
Property Size3,660 SF
Days on Market52
Property Features for 1711 Santa Paula Dr
General Information
Standard status
Active
Size
3,660 SF
Property subtype
Multi Family
Occupancy
50%
Additional Details
Fenced Yard
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,935
Amenities
assigned parking
security entrance
private balconies
fully fenced side yard
Building Details
Building Size
3,660 SF
Year Built
1951
Stories
2
Units
1
Tenancy
Multi
Listing Agency:
ZZYZX Realty
(702) 613-6368
Listed By:
Jacob Hammons · License #S.0186190
(702) 613-6368
Source:
Elliman
Added: Jul 5
Changed: Aug 13
Last Checked: Aug 24 at 10:39AM
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 ZZYZX Realty
Investment Insights
Based on property information with market context.
This updated 4-plex includes four 2-bedroom, 1-bath units. The units feature luxury vinyl plank flooring, and each unit has access to a private balcony. The property also includes a fully fenced side yard with private access to each unit, along with a security entrance to the entry doors and assigned parking for residents.
The property is located just one block from Las Vegas Blvd, with Walk Score 76 and Transit Score 67, indicating it is in a very walkable and well-served area.
Two of the four units are currently rented, with tenant rent reported at $1,290 and $1,140 per month. The layout is described as having the possibility of a 5th unit studio or an on-site laundry room.
The property is located just one block from Las Vegas Blvd, with Walk Score 76 and Transit Score 67, indicating it is in a very walkable and well-served area.
Two of the four units are currently rented, with tenant rent reported at $1,290 and $1,140 per month. The layout is described as having the possibility of a 5th unit studio or an on-site laundry room.
Key Highlights
- Updated 4‑plex built in 1951 with four 2‑bedroom, 1‑bath units
- Two units currently rented at $1,290/month and $1,140/month
- Luxury vinyl plank flooring throughout the units
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
$42,127
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
7.02%
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%
$842,540
$842.5K
Cap Rate 7%
$601,814
$601.8K
Cap Rate 9%
$468,078
$468.1K
Market Conditions
NOI Build-Up for 3,660 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
$63.7K $17.40/SF
− Vacancy
−$3.5K −$0.96/SF
EGI
$60.2K $16.44/SF
− OpEx
−$18.1K −$4.93/SF
NOI
$42.1K $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%
$842,540
Cap Rate 7%
$601,814
Cap Rate 9%
$468,078
Alternative Uses
Best Use
Multifamily LT 5
$601.8K
$526.6K – $702.1K
NOI $42,127 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$556.1K
$486.6K – $648.8K
NOI $38,930 @ 7.0% cap · market cap 6.49%
Theoretical Best
Specialty Retail
$1.26M
$1.11M – $1.48M
NOI $88,528 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 89104, NV
41,662
Population
16,704
Households
2.5
Avg Household Size
38
Median Age
15%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
7,309
Density / Sq Mi
$50,945
Median Household Income
$34,278
Median Earnings
$1,138
Median Rent
$298,700
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 - Updated 4-plex features four 2-bedroom, 1-bath units with private balconies and assigned resident parking.
Where is this quadplex located?
The property is located at 1711 Santa Paula Dr Las Vegas, NV.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Updated 4‑plex built in 1951 with four 2‑bedroom, 1‑bath units; Two units currently rented at $1,290/month and $1,140/month; Luxury vinyl plank flooring throughout the units
