Fourplex with Updated Mechanical
For Sale
$499,000
2146 Riviera Blvd, Bullhead City, AZ 86442
A well-maintained fourplex with four 2-bed, 1-bath units, all currently occupied on month-to-month leases.
Property Size2,912 SF
Price / SF$171.36
Days on Market48
Property Features for 2146 Riviera Blvd
General Information
Standard status
Active
Size
2,912 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1983
Tenancy
Multi
Listing Agency:
Sondgeroth Real Estate Group, LLC
Listed By:
Jessica Topol · License #SA666220000
(928) 234-5616
Source:
Sellinghavasu
Added: Jul 19
Changed: Aug 14
Last Checked: Sep 4 at 8:20AM
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 Sondgeroth Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This well-maintained fourplex offers four separate 2-bedroom, 1-bath units, all currently occupied on month-to-month leases. Three of the units have been remodeled, while one unit remains in original condition. The property has received major upgrades since 2018, including new HVAC systems, updated electrical with separate meters, and a well-maintained roof.
The property is located in Bullhead City near Rotary Park and the Colorado River. Tenants pay electric, while the owner covers water, sewer, and trash.
Designed for straightforward operations, the building has no HOA and no rent control mentioned in the property remarks. The property is described as having owned land and is presented as a long-term hold or 1031 exchange opportunity.
The property is located in Bullhead City near Rotary Park and the Colorado River. Tenants pay electric, while the owner covers water, sewer, and trash.
Designed for straightforward operations, the building has no HOA and no rent control mentioned in the property remarks. The property is described as having owned land and is presented as a long-term hold or 1031 exchange opportunity.
Key Highlights
- Well‑maintained fourplex built in 1983 with four 2‑bed, 1‑bath units
- All four units are currently occupied on month‑to‑month leases
- Three units have been remodeled; one unit remains in original condition
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
$21,727
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
4.35%
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%
$434,540
$434.5K
Cap Rate 7%
$310,386
$310.4K
Cap Rate 9%
$241,411
$241.4K
Market Conditions
NOI Build-Up for 2,912 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
$33.2K $11.40/SF
− Vacancy
−$2.2K −$0.74/SF
EGI
$31.0K $10.66/SF
− OpEx
−$9.3K −$3.20/SF
NOI
$21.7K $7.46/SF
Area
Mohave County, AZ
Vacancy
6.50%
Lease Rate
$11.40 /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%
$434,540
Cap Rate 7%
$310,386
Cap Rate 9%
$241,411
Alternative Uses
Best Use
Multifamily LT 5
$310.4K
$271.6K – $362.1K
NOI $21,727 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$289.7K
$253.5K – $338.0K
NOI $20,277 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$650.2K
$568.9K – $758.5K
NOI $45,511 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 86442, AZ
34,171
Population
19,581
Households
1.7
Avg Household Size
53
Median Age
14%
College-Educated
85%
High-School Grad
28.2 sq mi
ZIP Area
1,212
Density / Sq Mi
$45,486
Median Household Income
$28,702
Median Earnings
$1,000
Median Rent
$174,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - A well-maintained fourplex with four 2-bed, 1-bath units, all currently occupied on month-to-month leases.
Where is this quadplex located?
The property is located at 2146 Riviera Blvd Bullhead City, AZ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Well‑maintained fourplex built in 1983 with four 2‑bed, 1‑bath units; All four units are currently occupied on month‑to‑month leases; Three units have been remodeled; one unit remains in original condition
