Single-Story Triplex with
For Sale
$450,000
Pending
1828 Lewis Avenue, Las Vegas, NV 89101
Residential, Las Vegas, NV
Property Size2,123 SF
Lot Size0.16 Acres
Days on Market50
Property Features for 1828 Lewis Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Subdivision
Lawrence Love Tr
Elementary school
,
Directions
FROM EASTERN AND CHARLESTON WEST TO BRUCE NORTH ON BRUCE TO LEWIS EAST ON LEWIS TO PROPERTY ON RIGHT
Special listing conditions
Short Sale
Standard status
Pending
APN
139-35-814-008
Size
2,123 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1232
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit washer/dryer
backyard patio
Building Details
Year built
1954
Floors in Building
1
Number of units
3
Flooring type
Vinyl
Building materials
Stucco
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Innovative Real Estate Strateg
(702) 478-2242
Listed By:
Brandy J. White Elk · License #B.0009698
(702) 858-4211
Added: Aug 5
Changed: Sep 11
Last Checked: Sep 23 at 5:06AM
MLS# 2806462
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 2,123-square-foot triplex contains three single-story units, each arranged with two bedrooms and one bathroom. Every residence includes a stackable washer and dryer inside the unit, along with a backyard patio area. The property was built in 1954 and features stucco construction, vinyl flooring, central air conditioning, and central electric heat. Public water and sewer serve the site, while composition shingle roofing and low-maintenance landscaping support the overall configuration.
Set in Las Vegas, the property is positioned near shopping, dining, schools, and Downtown Las Vegas. The parcel encompasses 0.16 acres and provides a compact multifamily setting with three similarly configured residences.
Set in Las Vegas, the property is positioned near shopping, dining, schools, and Downtown Las Vegas. The parcel encompasses 0.16 acres and provides a compact multifamily setting with three similarly configured residences.
Key Highlights
- Three‑unit triplex with 2,123 square feet of property size
- Each unit includes 2 bedrooms and 1 bathroom
- Stackable washer and dryer located inside each unit
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
$24,436
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
5.43%
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%
$488,720
$488.7K
Cap Rate 7%
$349,086
$349.1K
Cap Rate 9%
$271,511
$271.5K
Market Conditions
NOI Build-Up for 2,123 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
$36.9K $17.40/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$34.9K $16.44/SF
− OpEx
−$10.5K −$4.93/SF
NOI
$24.4K $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%
$488,720
Cap Rate 7%
$349,086
Cap Rate 9%
$271,511
Alternative Uses
Best Use
Multifamily LT 5
$349.1K
$305.5K – $407.3K
NOI $24,436 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$322.6K
$282.3K – $376.4K
NOI $22,581 @ 7.0% cap · market cap 5.02%
Theoretical Best
Specialty Retail
$733.6K
$641.9K – $855.9K
NOI $51,351 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,540
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
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer consistent layouts, private outdoor areas, and in-unit laundry equipment.
Where is this triplex located?
The property is located at 1828 Lewis Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,123 square feet of property size; Each unit includes 2 bedrooms and 1 bathroom; Stackable washer and dryer located inside each unit
