Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    North Las Vegas Fourplex Opportunity Title is generated by Realmo AI

    2321 Ellis Street, North Las Vegas, NV 89030

    View on Map
    Claim this Listing
    For Sale
    $659,000

    MULTI_FAMILY - Other - North Las Vegas, NV

    Property size:
    3,040 SF
    Lot size:
    0.20 Acres
    Price / SF:
    $216/SF
    Added:
    Apr 20, 2026
    Days on Market:
    26
    Last Refresh:
    May 15 at 10:06 pm

    Property Features for 2321 Ellis Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Window features
    Blinds
    Interior features
    Window Treatments
    Appliances
    Disposal, Oven, Range
    Standard status
    Active
    APN
    139-24-110-234
    Size
    3,040 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1096

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1963
    Floors in Building
    1
    Number of units
    4
    Flooring type
    Tile, Tile - Ceramic
    Building materials
    Stucco
    Roof type
    Shingle, Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Derek Moellinger

    Listing agent Derek Moellinger License #B.1006381

    Listing office Vice Realty 1900 Western Ave, Las Vegas, NV

    Listing date Apr 20, 2026

    MLS# 2774671 Listing URL

    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.

    HighLights

    • Income‑producing fourplex with strong rental potential.
    • Four 2‑bedroom, 1‑bath units (total 8 beds, 4 baths).
    • Convenient location near schools, shopping, and transit.
    • Ample parking available.
    • Tile flooring throughout units.
    • On‑site laundry facilities.

    Overview

    The property at 2321 Ellis Street in North Las Vegas, NV 89030 is a single-story fourplex constructed in 1963. The building contains four units, each featuring 2 bedrooms and 1 bathroom, for a total of 8 beds and 4 baths. Interior features include tile flooring and basic appliances. On-site laundry facilities are available. Ample parking is provided. The property is situated on a lot of 0.2 acres. The building has a total area of 3040 square feet. The location offers convenient access to schools, shopping, and public transportation. This property presents a solid income-producing opportunity with strong rental potential.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $384.7K
    NOI $34,620 @ 9.00% cap · cautious / downside scenario
    Moderate
    $494.6K
    NOI $34,620 @ 7.00% cap · market / base-case scenario
    Aggressive
    $692.4K
    NOI $34,620 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $52.9k $17.40
    − Vacancy −$3.4k −$1.13
    EGI $49.5k $16.27
    − OpEx −$14.8k −$4.88
    NOI $34.6k $11.39
    3,040 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $494.6K
    $432.8K – $577.0K (±1% cap)
    NOI $34,620 @ 7.0% cap · market cap 5.25%
    Second Best
    Apartment 5plus
    $457.1K
    $399.9K – $533.2K (±1% cap)
    NOI $31,994 @ 7.0% cap · market cap 4.85%
    Theoretical Best
    Office A
    $822.7K
    $719.8K – $959.8K (±1% cap)
    NOI $57,587 @ 7.0% cap · market cap 8.74%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Las Vegas
    County
    Clark
    State
    Nevada
    Longitude
    -115.109437
    Latitude
    36.202545

    Nearby Similar for Sale

    • $900,000
      3,094 SF

      Multifamily Property in North Las Vegas

      Rare investment opportunity with three residences on one parcel.
      1649 Stocker Street, North Las Vegas, NV 89030
      View Details
    • $655,000
      3,869 SF

      North Las Vegas Fourplex Investment

      Well-maintained fourplex in North Las Vegas with long-term tenants.
      2101 Sun Avenue, North Las Vegas, NV 89030
      View Details
    • $715,000
      3,944 SF

      North Las Vegas Multifamily Investment

      Excellent condition multifamily property in North Las Vegas.
      3244 Figler Court, North Las Vegas, NV 89030
      View Details
    • $360,000
      1,080 SF

      North Las Vegas Multifamily Property

      Multifamily property for sale in North Las Vegas, Nevada.
      1934 Stanford Street, North Las Vegas, NV 89030
      View Details
    • $364,999
      1,701 SF

      North Las Vegas Duplex Opportunity

      Duplex with spacious units, carports, and private storage.
      2105 Stanley Avenue, North Las Vegas, NV 89030
      View Details
    • $305,000
      1,300 SF

      Single-Story Duplex: Investor's Dream

      Single-story duplex with separate homes, ideal for income rentals.
      1828 Harvard Street, North Las Vegas, NV 89030
      View Details
    • $1,800,000
      5,500 SF

      Retail Center Near Mixed-Use Development

      Retail shopping center near Lake Mead and Simmons with redevelopment potential.
      3011 West Lake Mead Boulevard, North Las Vegas, NV 89032
      View Details
    • $2,200,000
      8,907 SF

      High-End Office & Warehouse Space

      Two-story office and warehouse in Cheyenne West Corporate Center.
      2645 W Cheyenne Ave, North Las Vegas, NV 89032
      View Details
    • $600,000
      2,790 SF

      Tenant-Occupied Fourplex Investment Opportunity

      Fully occupied fourplex in North Las Vegas with immediate cash flow.
      2240 Webster Street, North Las Vegas, NV 89030
      View Details
    • $409,900
      1,745 SF

      Remodeled Duplex in North Las Vegas

      Fully remodeled duplex with new flooring and convenient freeway access.
      2109 Glider Street, North Las Vegas, NV 89030
      View Details
    • $649,999

      Upgraded Fourplex with New Roof

      Well-maintained fourplex featuring recent high-quality upgrades and ample parking.
      2141 Webster St, North Las Vegas, NV 89030
      View Details
    • $749,900
      3,088 SF

      North Las Vegas Multifamily Investment

      Five-unit multifamily property with strong income potential in North Las Vegas.
      2536 Carroll Street, North Las Vegas, NV 89030
      View Details

    FAQs

    What type of property is this?
    Quadplex - Single-story fourplex in North Las Vegas with strong rental potential.
    Where is this quadplex located?
    The property is located at 2321 Ellis Street North Las Vegas, NV.
    What is the asking price?
    The asking price for this property is $659,000.
    What are key features of this property?
    This property features: Income‑producing fourplex with strong rental potential.; Four 2‑bedroom, 1‑bath units (total 8 beds, 4 baths).; Convenient location near schools, shopping, and transit.
    (702) 825-4663
    We can help!
    Listing Contact
    Derek Moellinger
    Real Estate License ID: B.1006381
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2321 Ellis Street, North Las Vegas, NV 89030
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!