Triplex with One-Bedroom
For Sale
$425,000
2132 Houston Drive, Las Vegas, NV 89104
Residential, Las Vegas, NV
Property Size2,167 SF
Lot Size0.19 Acres
Price / SF$196.12
Days on Market212
Property Features for 2132 Houston Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Subdivision
Jubilee Tr
Elementary school
,
Directions
From Charleston and Eastern, Go south on Eastern, Left on Houston to property on the right-hand side.
Standard status
Active
APN
162-01-110-017
Size
2,167 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
1275
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Number of units
3
Flooring type
Tile
Building materials
Stucco
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Keller Williams MarketPlace · Keller Williams Realty
(702) 939-0000
Listed By:
Richard J. Brenkus · License #BS.0016186
(702) 752-0044
Added: Feb 3
Changed: Aug 19
Last Checked: Sep 3 at 12:06PM
MLS# 2753433
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 Las Vegas triplex contains 3 residential units, each configured with 1 bedroom and 1 bathroom. The property includes 2,167 square feet of building area on a 0.19-acre lot, with tile flooring and stucco construction. Central heating and central air are present, supplemented by window unit(s) cooling. The roof uses shingle and composition materials.
Built in 1954, the property is served by public water and public sewer. Ample parking is available, supporting the existing multi-unit layout at 2132 Houston Drive.
Built in 1954, the property is served by public water and public sewer. Ample parking is available, supporting the existing multi-unit layout at 2132 Houston Drive.
Key Highlights
- 3 units, each with 1 bedroom and 1 bathroom
- 2,167 square feet on a 0.19‑acre lot
- Ample parking available
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
$24,942
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
5.87%
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%
$498,840
$498.8K
Cap Rate 7%
$356,314
$356.3K
Cap Rate 9%
$277,133
$277.1K
Market Conditions
NOI Build-Up for 2,167 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
$37.7K $17.40/SF
− Vacancy
−$2.1K −$0.96/SF
EGI
$35.6K $16.44/SF
− OpEx
−$10.7K −$4.93/SF
NOI
$24.9K $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%
$498,840
Cap Rate 7%
$356,314
Cap Rate 9%
$277,133
Alternative Uses
Best Use
Multifamily LT 5
$356.3K
$311.8K – $415.7K
NOI $24,942 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$329.3K
$288.1K – $384.2K
NOI $23,049 @ 7.0% cap · market cap 5.42%
Theoretical Best
Specialty Retail
$748.8K
$655.2K – $873.6K
NOI $52,415 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,283
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
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 a compact income-property configuration with ample parking in Las Vegas.
Where is this triplex located?
The property is located at 2132 Houston Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3 units, each with 1 bedroom and 1 bathroom; 2,167 square feet on a 0.19‑acre lot; Ample parking available
