Updated Fourplex with Laundry
For Sale
$820,000
536 North Cir, Las Vegas, NV 89119
Four residential units offer two-bedroom layouts, appliances, and controlled-access site features.
Property Size2,924 SF
Days on Market43
Property Features for 536 North Cir
General Information
Standard status
Active
Size
2,924 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,769
Amenities
all appliances
security system
private gates
laundry room
Building Details
Building Size
2,924 SF
Year Built
1963
Buildings
1
Stories
2
Units
4
Listing Agency:
(702) 286-5111
Listed By:
Abigail P. Prieto
(702) 286-5111
Source:
Elliman
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 31 at 3:52PM
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 Abigail P. Prieto
Investment Insights
Based on property information with market context.
This fourplex contains four freshly painted units, each arranged with 2 bedrooms and 1 bath. The property includes appliances, new plumbing and sewer lines, a dedicated laundry room, security system, private gates, and a fenced corner lot. Built in 1963, the building combines updated infrastructure with practical shared amenities.
The property is located at 536 North Cir in Las Vegas, near the Las Vegas Strip, entertainment, restaurants, shopping, Las Vegas University, and the airport. Walk Score is 70, Bike Score is 49, and Transit Score is 50, providing additional context for access to surrounding destinations.
The property is located at 536 North Cir in Las Vegas, near the Las Vegas Strip, entertainment, restaurants, shopping, Las Vegas University, and the airport. Walk Score is 70, Bike Score is 49, and Transit Score is 50, providing additional context for access to surrounding destinations.
Key Highlights
- Four units, each with 2 bedrooms and 1 bath
- Freshly painted interiors with appliances included
- New plumbing and sewer lines
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
$33,656
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
4.10%
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%
$673,120
$673.1K
Cap Rate 7%
$480,800
$480.8K
Cap Rate 9%
$373,956
$374.0K
Market Conditions
NOI Build-Up for 2,924 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
$50.9K $17.40/SF
− Vacancy
−$2.8K −$0.96/SF
EGI
$48.1K $16.44/SF
− OpEx
−$14.4K −$4.93/SF
NOI
$33.7K $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 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%
$673,120
Cap Rate 7%
$480,800
Cap Rate 9%
$373,956
Alternative Uses
Best Use
Multifamily LT 5
$480.8K
$420.7K – $560.9K
NOI $33,656 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$444.3K
$388.8K – $518.4K
NOI $31,101 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$1.01M
$884.1K – $1.18M
NOI $70,726 @ 7.0% cap · market cap 8.63%
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
2,336
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 residential units offer two-bedroom layouts, appliances, and controlled-access site features.
Where is this quadplex located?
The property is located at 536 North Cir Las Vegas, NV.
What is the asking price?
The asking price for this property is $820,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bath; Freshly painted interiors with appliances included; New plumbing and sewer lines
