4-Unit Multifamily
For Sale
$709,900
203 Bruce Way, Henderson, NV 89015
Separate electric metering, central HVAC, and in-unit appliances support efficient property operations.
Property Size3,060 SF
Days on Market56
Property Features for 203 Bruce Way
General Information
Standard status
Active
Size
3,060 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,331
Building Details
Building Size
3,060 SF
Year Built
1980
Listing Agency:
General Realty Group Inc
Listed By:
Steven Aboulafia · License #S.0040153
(702) 497-8006
Source:
Virtuelre
Added: Aug 14
Changed: Sep 25
Last Checked: Oct 7 at 6:06PM
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 General Realty Group Inc
Investment Insights
Based on property information with market context.
This quadplex contains four 2-bedroom, 1-bath residences totaling approximately 3,060 square feet. The 1980 property includes separate electric meters, central heating and cooling, a laundry room, window blinds, and partial furnishings. Each unit is equipped with a range/oven and refrigerator. Stucco siding and a composition shingle roof complete the primary exterior features.
Located in Henderson, the property is near shopping, dining, schools, and commuter routes. The surrounding area is characterized by moderate walkability, limited transit access, and a bike score of 55. The four-unit configuration provides a defined multifamily layout with established building systems and shared laundry functionality.
Located in Henderson, the property is near shopping, dining, schools, and commuter routes. The surrounding area is characterized by moderate walkability, limited transit access, and a bike score of 55. The four-unit configuration provides a defined multifamily layout with established building systems and shared laundry functionality.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- Approx. 3,060 total sq ft
- Separate electric meters for the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,430
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,600
$708.6K
Cap Rate 7%
$506,143
$506.1K
Cap Rate 9%
$393,667
$393.7K
Market Conditions
NOI Build-Up for 3,060 SF
Gross rent
$53.2K $17.40/SF
− Vacancy
−$2.6K −$0.86/SF
EGI
$50.6K $16.54/SF
− OpEx
−$15.2K −$4.96/SF
NOI
$35.4K $11.58/SF
Area
ZIP 89015
Vacancy
4.94%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,600
Cap Rate 7%
$506,143
Cap Rate 9%
$393,667
Alternative Uses
Best Use
Multifamily LT 5
$506.1K
$442.9K – $590.5K
NOI $35,430 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$465.0K
$406.9K – $542.5K
NOI $32,548 @ 7.0% cap · market cap 4.58%
Theoretical Best
Specialty Retail
$1.07M
$937.9K – $1.25M
NOI $75,035 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 89015, NV
41,203
Population
16,812
Households
2.5
Avg Household Size
41
Median Age
20%
College-Educated
89%
High-School Grad
37.3 sq mi
ZIP Area
1,105
Density / Sq Mi
$71,300
Median Household Income
$41,509
Median Earnings
$1,324
Median Rent
$373,700
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 - Separate electric metering, central HVAC, and in-unit appliances support efficient property operations.
Where is this quadplex located?
The property is located at 203 Bruce Way Henderson, NV.
What is the asking price?
The asking price for this property is $709,900.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; Approx. 3,060 total sq ft; Separate electric meters for the units
