Remodeled Quadplex with Replaced
For Sale
$615,000
1317 N 23rd St, Las Vegas, NV 89101
The property offers similarly configured apartments with an updated interior in one unit.
Property Size3,540 SF
Days on Market51
Property Features for 1317 N 23rd St
General Information
Standard status
Active
Size
3,540 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Arthur McCants
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,201
Building Details
Building Size
3,540 SF
Year Built
1963
Stories
2
Units
4
Listing Agency:
Keller Williams Realty The MarketPlace
Listed By:
Michael McNamara · License #S.0169544
(585) 820-6627
Source:
Elliman
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 28 at 8:23AM
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 Keller Williams Realty The MarketPlace
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Investment Insights
Based on property information with market context.
This four-unit residential property contains four similarly arranged apartments, each with 2 bedrooms, 1 bath, and approximately 885 square feet. One apartment has undergone remodeling, while the roof membrane has been replaced across the entire building. The interiors are described as well maintained, and the property is in fair to good condition.
Located at 1317 N 23rd St in Las Vegas, the property provides access to area amenities and transportation. Walk Score is 61, BikeScore is 60, and TransitScore is 41, reflecting a somewhat walkable setting with bike access and some transit availability.
Located at 1317 N 23rd St in Las Vegas, the property provides access to area amenities and transportation. Walk Score is 61, BikeScore is 60, and TransitScore is 41, reflecting a somewhat walkable setting with bike access and some transit availability.
Key Highlights
- Four‑unit property with four similarly sized apartments
- Each unit includes 2 bedrooms, 1 bath, and approximately 885 square feet
- One unit has been remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,746
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$814,920
$814.9K
Cap Rate 7%
$582,086
$582.1K
Cap Rate 9%
$452,733
$452.7K
Market Conditions
NOI Build-Up for 3,540 SF
Gross rent
$61.6K $17.40/SF
− Vacancy
−$3.4K −$0.96/SF
EGI
$58.2K $16.44/SF
− OpEx
−$17.5K −$4.93/SF
NOI
$40.7K $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 Rate 5%
$814,920
Cap Rate 7%
$582,086
Cap Rate 9%
$452,733
Alternative Uses
Best Use
Multifamily LT 5
$582.1K
$509.3K – $679.1K
NOI $40,746 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$537.9K
$470.7K – $627.6K
NOI $37,653 @ 7.0% cap · market cap 6.12%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,625 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
577
Businesses Nearby
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Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - The property offers similarly configured apartments with an updated interior in one unit.
Where is this quadplex located?
The property is located at 1317 N 23rd St Las Vegas, NV.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Four‑unit property with four similarly sized apartments; Each unit includes 2 bedrooms, 1 bath, and approximately 885 square feet; One unit has been remodeled
