Renovated Triplex with Modern
For Sale
$525,000
1405 East Clark Avenue, Las Vegas, NV 89101
Updated kitchens and bathrooms support rental or owner-occupant use.
Property Size1,671 SF
Days on Market8
Property Features for 1405 East Clark Avenue
General Information
Standard status
Active
Size
1,671 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,006
Building Details
Building Size
1,671 SF
Year Built
1949
Listing Agency:
The PMG Realty Company LLC
(702) 526-5506
Listed By:
Hazel S. Simon · License #S.0061479
(702) 526-5506
Source:
Usarealty
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 11 at 12:20PM
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 The PMG Realty Company LLC
Investment Insights
Based on property information with market context.
Built in 1949, this three-unit residential income property has undergone a comprehensive renovation. Improvements include refreshed kitchens with new cabinetry, countertops, stainless steel appliances, contemporary fixtures, and upgraded flooring. The bathrooms feature new vanities, tiled surrounds, and updated plumbing fixtures, while fresh interior and exterior paint completes the work.
The triplex can accommodate an owner-occupant arrangement with one unit reserved for personal use and two units leased, or all three units can be offered for rent. The property is in Las Vegas near Downtown Las Vegas, the Arts District, shopping, dining, schools, and major freeway access.
The triplex can accommodate an owner-occupant arrangement with one unit reserved for personal use and two units leased, or all three units can be offered for rent. The property is in Las Vegas near Downtown Las Vegas, the Arts District, shopping, dining, schools, and major freeway access.
Key Highlights
- Three‑unit triplex built in 1949
- Renovated kitchens with new cabinetry, countertops, and stainless steel appliances
- Updated bathrooms with new vanities, tile surrounds, and plumbing fixtures
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
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 - Updated kitchens and bathrooms support rental or owner-occupant use.
Where is this triplex located?
The property is located at 1405 East 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 triplex built in 1949; Renovated kitchens with new cabinetry, countertops, and stainless steel appliances; Updated bathrooms with new vanities, tile surrounds, and plumbing fixtures
