Solar-Equipped Multifamily
New
For Sale
$625,000
1801 Elm Avenue, Las Vegas, NV 89101
Residential, Las Vegas, NV
Property Size4,134 SF
Lot Size0.26 Acres
Price / SF$151.19
Days on Market2
Property Features for 1801 Elm Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Microwave
Subdivision
Boulder Dam Homesite Add Tr #02
Elementary school
,
Directions
95 and Las Vegas Blvd - East on Stewart to Bruce- North on Bruce to Elm - Turn right (east) on Elm. Property is on the left.
Standard status
Active
APN
139-35-610-091
Size
4,134 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
1838
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central, Wall Furnace
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
solar panels
laundry room
covered patio
closed-circuit cameras
gated entry
Building Details
Year built
1953
Floors in Building
1
Number of units
4
Flooring type
Carpet, Vinyl, Tile - Ceramic
Building materials
Stucco, Wood Frame
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Coldwell Banker Premier · Coldwell Banker Real Estate
(702) 871-9500
Listed By:
Michael T. Oliver · License #S.0169549
(702) 525-6319
Added: Sep 26
Last Checked: Sep 27 at 1:06PM
MLS# 2821953
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 single-story multifamily property contains 4,134 square feet on a 0.26-acre lot. Solar panels complement a brick exterior, and the grounds are enclosed by masonry walls with a gated entry. A two-car garage includes laundry facilities. Interior finishes include carpet, wood, and tile, with kitchens fitted with wood cabinetry and appliances.
A covered patio provides outdoor space, while closed-circuit cameras serve the secured perimeter. The building dates to 1953 and has central and wall heating, along with central air and window-unit cooling.
A covered patio provides outdoor space, while closed-circuit cameras serve the secured perimeter. The building dates to 1953 and has central and wall heating, along with central air and window-unit cooling.
Key Highlights
- 4,134 square feet on a 0.26‑acre lot
- Solar panels and a single‑story configuration
- Two‑car garage with laundry facilities
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
$47,583
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
7.61%
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%
$951,660
$951.7K
Cap Rate 7%
$679,757
$679.8K
Cap Rate 9%
$528,700
$528.7K
Market Conditions
NOI Build-Up for 4,134 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
$71.9K $17.40/SF
− Vacancy
−$4.0K −$0.96/SF
EGI
$68.0K $16.44/SF
− OpEx
−$20.4K −$4.93/SF
NOI
$47.6K $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%
$951,660
Cap Rate 7%
$679,757
Cap Rate 9%
$528,700
Alternative Uses
Best Use
Multifamily LT 5
$679.8K
$594.8K – $793.1K
NOI $47,583 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$628.2K
$549.7K – $732.9K
NOI $43,972 @ 7.0% cap · market cap 7.04%
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $99,993 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,430
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - A single-story layout includes a two-car garage with laundry space.
Where is this quadplex located?
The property is located at 1801 Elm Avenue 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: 4,134 square feet on a 0.26‑acre lot; Solar panels and a single‑story configuration; Two‑car garage with laundry facilities
