Updated Fourplex With Established
New
For Sale
$800,000
6553 McRae Ave, Las Vegas, NV 89108
Four-unit rental property with refreshed interiors, newer appliances, and occupants with extended rental histories.
Property Size3,456 SF
Days on Market2
Property Features for 6553 McRae Ave
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,399
Building Details
Building Size
3,456 SF
Year Built
1998
Stories
2
Units
4
Listing Agency:
Redfin
Listed By:
Fernanda A. Kriese · License #S.0185158
(702) 461-8820
Source:
Elliman
Added: Sep 4
Last Checked: Sep 5 at 9:04AM
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 Redfin
Investment Insights
Based on property information with market context.
Built in 1998, this four-unit residential income property includes a mix of updated interiors and established occupancy. Unit 201 has new LVP flooring, fresh paint, and replacement appliances. Unit 102 received LVP flooring and interior painting in 2025. Units 101 and 202 have each been occupied by the same tenants since April 2018, providing documented rental continuity. Unit 101 also has a new A/C unit installed in August 2026.
Located at 6553 McRae Ave in Las Vegas, the property has a Walk Score of 66, categorized as Somewhat Walkable, along with a BikeScore of 51 and a TransitScore of 40. The combination of four rental units, recent unit-level improvements, and long-term occupancy supports continued residential income use.
Located at 6553 McRae Ave in Las Vegas, the property has a Walk Score of 66, categorized as Somewhat Walkable, along with a BikeScore of 51 and a TransitScore of 40. The combination of four rental units, recent unit-level improvements, and long-term occupancy supports continued residential income use.
Key Highlights
- Four‑unit property built in 1998
- Unit 201 features new LVP flooring, fresh paint, and all new appliances
- Unit 102 received LVP flooring and fresh interior paint in 2025
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
$45,409
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
5.68%
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%
$908,180
$908.2K
Cap Rate 7%
$648,700
$648.7K
Cap Rate 9%
$504,544
$504.5K
Market Conditions
NOI Build-Up for 3,456 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
$68.4K $19.80/SF
− Vacancy
−$3.6K −$1.03/SF
EGI
$64.9K $18.77/SF
− OpEx
−$19.5K −$5.63/SF
NOI
$45.4K $13.14/SF
Area
ZIP 89108
Vacancy
5.20%
Lease Rate
$19.80 /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%
$908,180
Cap Rate 7%
$648,700
Cap Rate 9%
$504,544
Alternative Uses
Best Use
Multifamily LT 5
$648.7K
$567.6K – $756.8K
NOI $45,409 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$582.0K
$509.2K – $679.0K
NOI $40,738 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,874 @ 7.0% cap · market cap 10.23%
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
1,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 89108, NV
73,637
Population
28,377
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
80%
High-School Grad
8.9 sq mi
ZIP Area
8,274
Density / Sq Mi
$57,403
Median Household Income
$36,383
Median Earnings
$1,431
Median Rent
$304,400
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 - Four-unit rental property with refreshed interiors, newer appliances, and occupants with extended rental histories.
Where is this quadplex located?
The property is located at 6553 McRae Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Four‑unit property built in 1998; Unit 201 features new LVP flooring, fresh paint, and all new appliances; Unit 102 received LVP flooring and fresh interior paint in 2025
