Multifamily Property with Updated
2252 Ellis St, North Las Vegas, NV 89030
For Sale
$640,000
Income-producing multifamily property with renovated kitchens, dedicated storage, and on-site laundry amenities.
Property Size3,008 SF
Price / SF$212.77
Days on Market96
Property Features for 2252 Ellis St
General Information
Standard status
Size
Property subtype
Additional Details
Cap Rate
Amenities
private exterior storage
shared storage building
community laundry room
Building Details
Year Built
Listing Agency:
Simply Vegas
Listed By:
Catherine Hyde · License #0070366
(702) 408-2289
Source:
Tmgluxury
Added: Aug 4
Changed: Oct 26
Last Checked: Nov 6 at 2:18PM
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 Simply Vegas
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Investment Insights
Based on property information with market context.
Built in 1963, this 3,008-square-foot multifamily property at 2252 ELLIS ST in North Las Vegas is zoned Multi-Family Residential District (R-3). Unit improvements include remodeled kitchens, upgraded plumbing, serviced A/C systems, and double-pane windows. Residents also have access to private exterior storage, a shared storage building, and an on-site laundry room.
Capital improvements include a roof installed in 2020, a 100-gallon water heater added in 2023, gas line replacement completed in 2024, and owned coin-operated laundry added in 2025. The property is near Carey Ave. and Mojave Rd. and within walking distance of the North Las Vegas Police Department and Fire Station. Current performance is reported at a 6.0% cap rate, with an estimated 8.5% pro forma cap rate.
Capital improvements include a roof installed in 2020, a 100-gallon water heater added in 2023, gas line replacement completed in 2024, and owned coin-operated laundry added in 2025. The property is near Carey Ave. and Mojave Rd. and within walking distance of the North Las Vegas Police Department and Fire Station. Current performance is reported at a 6.0% cap rate, with an estimated 8.5% pro forma cap rate.
Key Highlights
- 3,008‑square‑foot multifamily property built in 1963
- Zoned Multi‑Family Residential District (R‑3)
- 6.0% current cap rate and estimated 8.5% pro forma cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,657
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,140
$633.1K
Cap Rate 7%
$452,243
$452.2K
Cap Rate 9%
$351,744
$351.7K
Market Conditions
NOI Build-Up for 3,008 SF
Gross rent
$61.4K $20.40/SF
− Vacancy
−$3.8K −$1.26/SF
EGI
$57.6K $19.14/SF
− OpEx
−$25.9K −$8.61/SF
NOI
$31.7K $10.52/SF
Area
North Las Vegas, NV
Vacancy
6.20%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,140
Cap Rate 7%
$452,243
Cap Rate 9%
$351,744
Alternative Uses
Best Use
Apartment 5plus
$452.2K
$395.7K – $527.6K
NOI $31,657 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$814.0K
$712.3K – $949.7K
NOI $56,981 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
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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
$237,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in North Las Vegas, NV
Properties on Market for Multifamily properties in North Las Vegas
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Income-producing multifamily property with renovated kitchens, dedicated storage, and on-site laundry amenities.
Where is this multifamily property located?
The property is located at 2252 Ellis St North Las Vegas, NV.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: 3,008‑square‑foot multifamily property built in 1963; Zoned Multi‑Family Residential District (R‑3); 6.0% current cap rate and estimated 8.5% pro forma cap rate
