Renovated
New
For Sale
$525,000
1405 E Clark Avenue, Las Vegas, NV 89101
MULTI_FAMILY - Other - Las Vegas, NV
Property Size1,671 SF
Lot Size0.12 Acres
Price / SF$314.18
Days on Market5
Property Features for 1405 E Clark Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Window features
Blinds
Interior features
Window Treatments
Appliances
Dryer, Dishwasher, Exhaust Fan, Disposal, Oven, Range, Refrigerator, Range Hood, Washer
Subdivision
Lv Dev Co Add Ladd Add
Elementary school
,
Directions
From Eastern and Charleston go west on Charleston, make a right turn on 14th street then a right on Clark. unit on left.
Standard status
Active
APN
139-35-411-056
Size
1,671 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
1006
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1949
Floors in Building
1
Number of units
3
Flooring type
Vinyl
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
The PMG Realty Company LLC
(702) 604-4595
Listed By:
Hazel S. Simon · License #S.0061479
(702) 526-5506
Added: Aug 5
Changed: Aug 8
Last Checked: Aug 9 at 12:06AM
MLS# 2798232
Copyright © 2026 Las Vegas REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated triplex contains three residential units within a 1,671-square-foot property on 0.12 acres. The interiors feature remodeled kitchens with new cabinetry, countertops, stainless steel appliances, updated vinyl flooring, contemporary fixtures, and refreshed bathrooms with new vanities and tile surrounds. Fresh interior and exterior paint further updates the property, while central heating and central air support year-round comfort.
Built in 1949, the property has public water and public sewer service, a composition and shingle roof, and in-unit laundry equipment including washers and dryers. Its Las Vegas location is minutes from Downtown Las Vegas, the Arts District, shopping, dining, schools, and major freeway access.
Built in 1949, the property has public water and public sewer service, a composition and shingle roof, and in-unit laundry equipment including washers and dryers. Its Las Vegas location is minutes from Downtown Las Vegas, the Arts District, shopping, dining, schools, and major freeway access.
Key Highlights
- Three‑unit residential property on 0.12 acres
- 1,671 square feet with remodeled kitchens and bathrooms
- Stainless steel appliances, washers, and dryers included
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
$19,233
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
3.66%
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%
$384,660
$384.7K
Cap Rate 7%
$274,757
$274.8K
Cap Rate 9%
$213,700
$213.7K
Market Conditions
NOI Build-Up for 1,671 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
$29.1K $17.40/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$27.5K $16.44/SF
− OpEx
−$8.2K −$4.93/SF
NOI
$19.2K $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%
$384,660
Cap Rate 7%
$274,757
Cap Rate 9%
$213,700
Alternative Uses
Best Use
Multifamily LT 5
$274.8K
$240.4K – $320.6K
NOI $19,233 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$253.9K
$222.2K – $296.2K
NOI $17,774 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$577.4K
$505.2K – $673.6K
NOI $40,418 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,092
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
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?
Triplex - Three updated residential units provide flexible occupancy and leasing options near Downtown Las Vegas.
Where is this triplex located?
The property is located at 1405 E Clark Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three‑unit residential property on 0.12 acres; 1,671 square feet with remodeled kitchens and bathrooms; Stainless steel appliances, washers, and dryers included
