Fourplex with Patio and Ceramic
For Sale
Under Contract
$655,000
2101 Sun Avenue, North Las Vegas, NV 89030
MULTI_FAMILY - Other - North Las Vegas, NV
Property Size3,869 SF
Lot Size0.15 Acres
Price / SF$169.29
Days on Market128
Property Features for 2101 Sun Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Patio and Porch features
Patio
Interior features
Window Treatments
Appliances
Oven, Range, Refrigerator
Elementary school
,
Directions
From Cheyenne and I-15, E on Cheyenne, left on Civic Center, left on Sun Ave and approach 2101 Sun Avenue.
Standard status
Active Under Contract
APN
139-11-806-002
Size
3,869 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
1911
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
in-unit washer/dryer
Building Details
Year built
2003
Floors in Building
2
Number of units
4
Flooring type
Tile - Ceramic
Building materials
Wood Frame
Roof type
Flat
Architectural style
Other
Listing Agency:
Simply Vegas
(702) 568-6800
Listed By:
Jillian Hyde · License #S.0194939
(702) 439-3388
Added: Apr 1
Changed: Jul 31
Last Checked: Aug 6 at 1:06PM
MLS# 2769265
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 Class B fourplex at 2101 Sun Avenue was built in 2003 and comprises a 3,869 SF wood-frame building on a 0.15-acre lot. The unit mix includes one 3-bed/2-bath, two 2-bed/2-bath units, and one 2-bed/1-bath unit. Each unit includes an in-unit washer/dryer, and ceramic tile flooring is featured throughout. Heating and cooling are provided via central systems, with natural gas heat and central air conditioning.
The property includes a patio, plus private and street parking for tenant convenience. Public water and public sewer service are available, and the roof is flat. Interior features noted include window treatments, and appliances include oven, range, and refrigerator.
Recent upgrades reportedly exceed $27,000 and include HVAC, appliances, bathroom improvements, roof resealing, and balcony/stucco repairs. The property is described as having long-term tenants in place, with no HOA.
The property includes a patio, plus private and street parking for tenant convenience. Public water and public sewer service are available, and the roof is flat. Interior features noted include window treatments, and appliances include oven, range, and refrigerator.
Recent upgrades reportedly exceed $27,000 and include HVAC, appliances, bathroom improvements, roof resealing, and balcony/stucco repairs. The property is described as having long-term tenants in place, with no HOA.
Key Highlights
- Class B fourplex built in 2003 on a 0.15‑acre lot
- 3,869 SF fourplex with wood‑frame construction and flat roof
- Unit mix: one 3 bed/2 bath, two 2 bed/2 bath, one 2 bed/1 bath
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
$44,061
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
6.73%
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%
$881,220
$881.2K
Cap Rate 7%
$629,443
$629.4K
Cap Rate 9%
$489,567
$489.6K
Market Conditions
NOI Build-Up for 3,869 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
$67.3K $17.40/SF
− Vacancy
−$4.4K −$1.13/SF
EGI
$62.9K $16.27/SF
− OpEx
−$18.9K −$4.88/SF
NOI
$44.1K $11.39/SF
Area
North Las Vegas, NV
Vacancy
6.50%
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%
$881,220
Cap Rate 7%
$629,443
Cap Rate 9%
$489,567
Alternative Uses
Best Use
Multifamily LT 5
$629.4K
$550.8K – $734.4K
NOI $44,061 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$581.7K
$509.0K – $678.7K
NOI $40,719 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$1.05M
$916.1K – $1.22M
NOI $73,291 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 89030, NV
56,399
Population
16,632
Households
3.4
Avg Household Size
30
Median Age
5%
College-Educated
58%
High-School Grad
9.5 sq mi
ZIP Area
5,937
Density / Sq Mi
$46,204
Median Household Income
$31,787
Median Earnings
$1,139
Median Rent
$237,300
Median Home Value
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 - Class B fourplex built in 2003 with in-unit washer/dryer, ceramic tile floors, and central HVAC with natural gas heat.
Where is this quadplex located?
The property is located at 2101 Sun Avenue North Las Vegas, NV.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: Class B fourplex built in 2003 on a 0.15‑acre lot; 3,869 SF fourplex with wood‑frame construction and flat roof; Unit mix: one 3 bed/2 bath, two 2 bed/2 bath, one 2 bed/1 bath
