Established Multifamily
For Sale
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2105 South 15th Street, Las Vegas, NV 89104
Multifamily property with varied residential layouts in an established Las Vegas neighborhood.
Property Size2,126 SF
Price / SF$261.05
Days on Market95
Property Features for 2105 South 15th Street
General Information
Standard status
Active
Size
2,126 SF
Property subtype
Multifamily
Zoning
Medium-Low Density Residential (R-2)
Net Operating Income
$29,079
Building Details
Year Built
1954
Buildings
1
Stories
1
Units
3
Listing Agency:
Marcus & Millichap - Las Vegas
Listed By:
Drew Holden · License #S.0189703
(949) 419-3200
Source:
Crexi
Added: Jul 17
Changed: Oct 13
Last Checked: Oct 16 at 8:44AM
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 Marcus & Millichap - Las Vegas
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Investment Insights
Based on property information with market context.
This multifamily property contains 2,126 square feet and was built in 1954. The source information identifies a diverse unit mix and functional residential layouts, with zoning designated Medium-Low Density Residential (R-2).
The property is located on South 15th Street in Las Vegas, within an established urban corridor. Downtown Las Vegas, the Las Vegas Strip, Harry Reid International Airport, employment centers, retail, education, entertainment, and major transportation corridors are identified as accessible from the property. It is also near the planned Historic Commercial Center District redevelopment, a mixed-use project expected to add residential, entertainment, dining, and commercial uses to the surrounding area.
The property is located on South 15th Street in Las Vegas, within an established urban corridor. Downtown Las Vegas, the Las Vegas Strip, Harry Reid International Airport, employment centers, retail, education, entertainment, and major transportation corridors are identified as accessible from the property. It is also near the planned Historic Commercial Center District redevelopment, a mixed-use project expected to add residential, entertainment, dining, and commercial uses to the surrounding area.
Key Highlights
- 2,126‑square‑foot multifamily property
- Built in 1954
- Zoned Medium‑Low Density Residential (R‑2)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,613
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$452,260
$452.3K
Cap Rate 7%
$323,043
$323.0K
Cap Rate 9%
$251,256
$251.3K
Market Conditions
NOI Build-Up for 2,126 SF
Gross rent
$43.4K $20.40/SF
− Vacancy
−$2.3K −$1.06/SF
EGI
$41.1K $19.34/SF
− OpEx
−$18.5K −$8.70/SF
NOI
$22.6K $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 Rate 5%
$452,260
Cap Rate 7%
$323,043
Cap Rate 9%
$251,256
Alternative Uses
Best Use
Apartment 5plus
$323.0K
$282.7K – $376.9K
NOI $22,613 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$734.6K
$642.8K – $857.1K
NOI $51,424 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,841
Businesses Nearby
Explore this area
Business Placement
Demographics for 89104, NV
41,662
Population
16,704
Households
2.5
Avg Household Size
38
Median Age
15%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
7,309
Density / Sq Mi
$50,945
Median Household Income
$34,278
Median Earnings
$1,138
Median Rent
$298,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property with varied residential layouts in an established Las Vegas neighborhood.
Where is this multifamily property located?
The property is located at 2105 South 15th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: 2,126‑square‑foot multifamily property; Built in 1954; Zoned Medium‑Low Density Residential (R‑2)
