5-Unit Apartment
New
For Sale
$625,000
1801 Elm Avenue, Las Vegas, NV 89101
A single-story property with solar panels and a two-car garage that contains a laundry room.
Property Size4,134 SF
Lot Size0.26 Acres
Price / SF$151.19
Days on Market6
Property Features for 1801 Elm Avenue
General Information
Standard status
Active
Size
4,134 SF
Total Parking Spaces
2
Lot size
0.26 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$1,838
Amenities
solar panels
laundry room
covered patio
closed-circuit cameras
Building Details
Building Size
4,134 SF
Year Built
1953
Stories
1
Construction
brick
Listing Agency:
Coldwell Banker Premier
Listed By:
Michael T. Oliver · License #S.0169549
(702) 525-6319
Source:
Usarealty
Added: Sep 26
Changed: Sep 28
Last Checked: Oct 1 at 7:08PM
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 Coldwell Banker Premier
Investment Insights
Based on property information with market context.
This five-unit apartment property offers 4,134 square feet across a single-story layout on a 0.26-acre lot. The building dates to 1953 and has a brick exterior, solar panels, and a two-car garage with a laundry room. Interior features include kitchens with wood cabinetry, ranges and ovens, and refrigerators; bedrooms have mirrored sliding closet doors, while bathrooms include both tub-and-shower combinations and walk-in showers.
A masonry-block wall and wrought-iron fencing enclose the property, with gated entry and closed-circuit cameras. Outdoor space includes a covered patio. The property is located on Elm Avenue in Las Vegas.
A masonry-block wall and wrought-iron fencing enclose the property, with gated entry and closed-circuit cameras. Outdoor space includes a covered patio. The property is located on Elm Avenue in Las Vegas.
Key Highlights
- Five units in a single‑story apartment property
- 4,134 square feet on a 0.26‑acre lot
- Two‑car garage includes a laundry room
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
$43,972
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
7.04%
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%
$879,440
$879.4K
Cap Rate 7%
$628,171
$628.2K
Cap Rate 9%
$488,578
$488.6K
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
$84.3K $20.40/SF
− Vacancy
−$4.4K −$1.06/SF
EGI
$79.9K $19.34/SF
− OpEx
−$36.0K −$8.70/SF
NOI
$44.0K $10.64/SF
Area
Las Vegas, NV
Vacancy
5.20%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$879,440
Cap Rate 7%
$628,171
Cap Rate 9%
$488,578
Alternative Uses
Best Use
Apartment 5plus
$628.2K
$549.7K – $732.9K
NOI $43,972 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
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
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
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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?
Apartment building - A single-story property with solar panels and a two-car garage that contains a laundry room.
Where is this apartment building 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: Five units in a single‑story apartment property; 4,134 square feet on a 0.26‑acre lot; Two‑car garage includes a laundry room
