Seven-Unit Apartment
For Sale
Contact for pricing
2204 SUNRISE AVE, Las Vegas, NV 89101
For sale seven-unit apartment building in Las Vegas with total size listed at 4,040 square feet.
Property Size4,040 SF
Price / SF$233.91
Days on Market64
Property Features for 2204 SUNRISE AVE
General Information
Standard status
Active
Size
4,040 SF
Property subtype
Multifamily
Zoning
R-4
Additional Details
Multifamily Units
7
Building Details
Year Built
1961
Stories
1
Units
7
Listing Agency:
Northcap Commercial
Listed By:
Jerad Roberts · License #NV 144595
Source:
Crexi
Added: Jul 7
Changed: Aug 25
Last Checked: Sep 8 at 7:51AM
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 Northcap Commercial
Investment Insights
Based on property information with market context.
This for-sale apartment building features 7 units and a total property size listed at 4,040 square feet. The asset is categorized as an apartment building and residential income property.
The property is located at 2204 Sunrise Ave in Las Vegas, Nevada 89101. For more details on the unit mix and current configuration, interested parties should inquire with the listing broker.
The property is located at 2204 Sunrise Ave in Las Vegas, Nevada 89101. For more details on the unit mix and current configuration, interested parties should inquire with the listing broker.
Key Highlights
- Seven‑unit apartment building in Las Vegas, NV
- Built in 1961
- Total building size listed at 4,040 SF
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
$42,972
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
4.55%
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%
$859,440
$859.4K
Cap Rate 7%
$613,886
$613.9K
Cap Rate 9%
$477,467
$477.5K
Market Conditions
NOI Build-Up for 4,040 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
$82.4K $20.40/SF
− Vacancy
−$4.3K −$1.06/SF
EGI
$78.1K $19.34/SF
− OpEx
−$35.2K −$8.70/SF
NOI
$43.0K $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 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%
$859,440
Cap Rate 7%
$613,886
Cap Rate 9%
$477,467
Alternative Uses
Best Use
Apartment 5plus
$613.9K
$537.2K – $716.2K
NOI $42,972 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.40M
$1.22M – $1.63M
NOI $97,719 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
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?
Apartment building - For sale seven-unit apartment building in Las Vegas with total size listed at 4,040 square feet.
Where is this apartment building located?
The property is located at 2204 SUNRISE AVE Las Vegas, NV.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Seven‑unit apartment building in Las Vegas, NV; Built in 1961; Total building size listed at 4,040 SF
