Four-Unit Apartment
New
For Sale
$640,000
1641 N Lamont St, Las Vegas, NV 89115
Three apartments are tenant-occupied, and the fourth is available for occupancy.
Property Size3,080 SF
Days on Market5
Property Features for 1641 N Lamont St
General Information
Standard status
Active
Size
3,080 SF
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,528
Amenities
storage area
shared laundry space
Building Details
Building Size
3,080 SF
Year Built
1983
Buildings
1
Stories
2
Units
4
Listing Agency:
Keller Williams, The Marketplace
Listed By:
Aaron Powers · License #S.0179702
(702) 768-5536
Source:
Elliman
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 12 at 8:57PM
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 Keller Williams, The Marketplace
Investment Insights
Based on property information with market context.
This four-unit apartment property at 1641 N Lamont St in Las Vegas was built in 1983. Each apartment has two bedrooms and one bathroom, with approximately 770 sq. ft. of space and an individual storage area. Three units are on the ground floor, with the fourth on the second floor. Utilities are separately metered, and residents share a laundry area.
Three apartments are tenant-occupied; the fourth is available. Parking is available on the property and along the street. The property has no HOA.
Three apartments are tenant-occupied; the fourth is available. Parking is available on the property and along the street. The property has no HOA.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- Approximately 770 sq. ft. per unit, with individual storage areas
- Three units on the ground floor and one on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,111
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$662,220
$662.2K
Cap Rate 7%
$473,014
$473.0K
Cap Rate 9%
$367,900
$367.9K
Market Conditions
NOI Build-Up for 3,080 SF
Gross rent
$49.9K $16.20/SF
− Vacancy
−$2.6K −$0.84/SF
EGI
$47.3K $15.36/SF
− OpEx
−$14.2K −$4.61/SF
NOI
$33.1K $10.75/SF
Area
ZIP 89115
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$662,220
Cap Rate 7%
$473,014
Cap Rate 9%
$367,900
Alternative Uses
Best Use
Multifamily LT 5
$473.0K
$413.9K – $551.9K
NOI $33,111 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$436.8K
$382.2K – $509.6K
NOI $30,577 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$920.8K
$805.7K – $1.07M
NOI $64,458 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Explore this area
Business Placement
Demographics for 89115, NV
67,043
Population
21,670
Households
3.1
Avg Household Size
29
Median Age
9%
College-Educated
70%
High-School Grad
24.9 sq mi
ZIP Area
2,692
Density / Sq Mi
$49,648
Median Household Income
$32,198
Median Earnings
$1,294
Median Rent
$258,900
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 - Three apartments are tenant-occupied, and the fourth is available for occupancy.
Where is this quadplex located?
The property is located at 1641 N Lamont St Las Vegas, NV.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; Approximately 770 sq. ft. per unit, with individual storage areas; Three units on the ground floor and one on the second floor
