Four-Unit Lower-Level
New
For Sale
$625,000
2513 Cedar Ave, Las Vegas, NV 89101
Occupied four-unit residential income property with tile flooring, carpeting, and access to walkable Las Vegas amenities.
Property Size2,870 SF
Days on Market4
Property Features for 2513 Cedar Ave
General Information
Standard status
Active
Size
2,870 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,522
Building Details
Building Size
2,870 SF
Year Built
1962
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Robinson Realty & Management
Listed By:
Saghi Yazdani-Robinson · License #B.1003357
(702) 496-6921
Source:
Elliman
Added: Sep 10
Last Checked: Sep 12 at 8:18AM
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 Robinson Realty & Management
Investment Insights
Based on property information with market context.
This lower-level quadplex contains 4 residential units, all currently occupied by tenants. Interior finishes include tile flooring and carpeting throughout, providing a mix of durable and softer surface treatments across the property. The building was constructed in 1962 and is configured as a fourplex for residential income use.
The property is located in Las Vegas, NV, with reported proximity to Downtown. Its walkability scores include a walk score of 84, a bike score of 54, and a transit score of 52, indicating access to walking, biking, and public transportation options in the surrounding area.
The property is located in Las Vegas, NV, with reported proximity to Downtown. Its walkability scores include a walk score of 84, a bike score of 54, and a transit score of 52, indicating access to walking, biking, and public transportation options in the surrounding area.
Key Highlights
- 4‑unit quadplex with all units currently occupied
- Lower‑level configuration with tile flooring and carpeting throughout
- Built in 1962
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
$33,034
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
5.29%
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%
$660,680
$660.7K
Cap Rate 7%
$471,914
$471.9K
Cap Rate 9%
$367,044
$367.0K
Market Conditions
NOI Build-Up for 2,870 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
$49.9K $17.40/SF
− Vacancy
−$2.7K −$0.96/SF
EGI
$47.2K $16.44/SF
− OpEx
−$14.2K −$4.93/SF
NOI
$33.0K $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%
$660,680
Cap Rate 7%
$471,914
Cap Rate 9%
$367,044
Alternative Uses
Best Use
Multifamily LT 5
$471.9K
$412.9K – $550.6K
NOI $33,034 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$436.1K
$381.6K – $508.8K
NOI $30,527 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$991.7K
$867.7K – $1.16M
NOI $69,419 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,021
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Occupied four-unit residential income property with tile flooring, carpeting, and access to walkable Las Vegas amenities.
Where is this quadplex located?
The property is located at 2513 Cedar Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 4‑unit quadplex with all units currently occupied; Lower‑level configuration with tile flooring and carpeting throughout; Built in 1962
