Four-Unit Quadplex with Updated
For Sale
$548,900
1715 Santa Paula Drive, Las Vegas, NV 89104
Four two-bedroom units include living rooms, kitchens, and full bathrooms on a No HOA lot.
Property Size3,660 SF
Days on Market60
Property Features for 1715 Santa Paula Drive
General Information
Standard status
Active
Size
3,660 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,601
Building Details
Building Size
3,660 SF
Year Built
1951
Listing Agency:
Simply Vegas
Listed By:
Marlene Raymundo · License #S.0187988
(702) 283-6236
Source:
Virtuelre
Added: Aug 15
Changed: Oct 12
Last Checked: Oct 13 at 2:44AM
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 Simply Vegas
Investment Insights
Based on property information with market context.
This Las Vegas quadplex contains four residential units, each configured with two bedrooms, one full bathroom, a living room, and a kitchen. The property also includes a rear room or storage area, space for RV parking and multiple vehicles, and a recently updated roof. Construction dates to 1951.
The property is near the Las Vegas Strip and Downtown Las Vegas, with access to entertainment, dining, shopping, major employers, and other area attractions. WalkScore is 82, indicating a Very Walkable setting; BikeScore is 59, and TransitScore is 50.
The No HOA lot provides additional outdoor space for parking or other improvements, subject to applicable requirements.
The property is near the Las Vegas Strip and Downtown Las Vegas, with access to entertainment, dining, shopping, major employers, and other area attractions. WalkScore is 82, indicating a Very Walkable setting; BikeScore is 59, and TransitScore is 50.
The No HOA lot provides additional outdoor space for parking or other improvements, subject to applicable requirements.
Key Highlights
- Four units, each with 2 bedrooms and 1 full bathroom
- Recently updated roof
- No HOA lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,127
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$842,540
$842.5K
Cap Rate 7%
$601,814
$601.8K
Cap Rate 9%
$468,078
$468.1K
Market Conditions
NOI Build-Up for 3,660 SF
Gross rent
$63.7K $17.40/SF
− Vacancy
−$3.5K −$0.96/SF
EGI
$60.2K $16.44/SF
− OpEx
−$18.1K −$4.93/SF
NOI
$42.1K $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 Rate 5%
$842,540
Cap Rate 7%
$601,814
Cap Rate 9%
$468,078
Alternative Uses
Best Use
Multifamily LT 5
$601.8K
$526.6K – $702.1K
NOI $42,127 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$556.1K
$486.6K – $648.8K
NOI $38,930 @ 7.0% cap · market cap 7.09%
Theoretical Best
Specialty Retail
$1.26M
$1.11M – $1.48M
NOI $88,528 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 89104, NV
41,662
Population
16,704
Households
2.5
Avg Household Size
38
Median Age
15%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
7,309
Density / Sq Mi
$50,945
Median Household Income
$34,278
Median Earnings
$1,138
Median Rent
$298,700
Median Home Value
Check the figures for this property
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 - Four two-bedroom units include living rooms, kitchens, and full bathrooms on a No HOA lot.
Where is this quadplex located?
The property is located at 1715 Santa Paula Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $548,900.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 full bathroom; Recently updated roof; No HOA lot
