Adjacent Quadplex Buildings with New
For Sale
$900,000
2321 N Jones Boulevard, Las Vegas, NV 89108
Residential, Las Vegas, NV
Property Size3,834 SF
Lot Size0.18 Acres
Price / SF$234.74
Days on Market231
Property Features for 2321 N Jones Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Ceiling Fan(s), Storage, Window Treatments
Appliances
Dryer, Dishwasher, Disposal, Oven, Range, Refrigerator, Washer
Subdivision
Charleston Heights Tr #50J
Elementary school
,
Directions
NB Jones at US HWY 95 North, Head toward N Jones Blvd, Turn right onto N Jones Blvd, Destination will be on the right
Standard status
Active
APN
138-24-117-002
Size
3,834 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
4314
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
fireplace
laundry room
storage area
Building Details
Year built
1984
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
Stucco, Wood Frame
Roof type
Flat
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Presidio Real Estate Services
(702) 879-2557
Listed By:
Rebecca L. Cordova · License #S.0171584
(702) 612-1584
Added: Jan 9
Changed: Aug 19
Last Checked: Aug 28 at 7:06PM
MLS# 2746485
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 multifamily property comprises two neighboring fourplex buildings with 2-bedroom, 2-full-bath units. Each unit includes a living room fireplace, separate laundry room, storage area, and a combination of vinyl and tile flooring. Appliances conveyed with the sale include washers, dryers, dishwashers, disposals, ovens, ranges, and refrigerators. The buildings feature a new roof, stucco and wood-frame construction, central natural-gas heating, central air conditioning, and flat roofs.
Located at 2321 N Jones Boulevard in Las Vegas, the property occupies 0.18 acres and contains 3,834 square feet. Public water and public sewer serve the site. Clark County business-license requirements have been completed, and the property has an approved fire marshal inspection. There is no HOA.
Located at 2321 N Jones Boulevard in Las Vegas, the property occupies 0.18 acres and contains 3,834 square feet. Public water and public sewer serve the site. Clark County business-license requirements have been completed, and the property has an approved fire marshal inspection. There is no HOA.
Key Highlights
- Two neighboring fourplex buildings at 2321 N Jones Boulevard
- 3,834 square feet on a 0.18‑acre lot
- Units feature 2 bedrooms, 2 full bathrooms, fireplaces, laundry rooms, and storage areas
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
$50,376
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
5.60%
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%
$1,007,520
$1.0M
Cap Rate 7%
$719,657
$719.7K
Cap Rate 9%
$559,733
$559.7K
Market Conditions
NOI Build-Up for 3,834 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
$75.9K $19.80/SF
− Vacancy
−$3.9K −$1.03/SF
EGI
$72.0K $18.77/SF
− OpEx
−$21.6K −$5.63/SF
NOI
$50.4K $13.14/SF
Area
ZIP 89108
Vacancy
5.20%
Lease Rate
$19.80 /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%
$1,007,520
Cap Rate 7%
$719,657
Cap Rate 9%
$559,733
Alternative Uses
Best Use
Multifamily LT 5
$719.7K
$629.7K – $839.6K
NOI $50,376 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$645.6K
$564.9K – $753.2K
NOI $45,194 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$1.30M
$1.14M – $1.51M
NOI $90,829 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
Explore this area
Business Placement
Demographics for 89108, NV
73,637
Population
28,377
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
80%
High-School Grad
8.9 sq mi
ZIP Area
8,274
Density / Sq Mi
$57,403
Median Household Income
$36,383
Median Earnings
$1,431
Median Rent
$304,400
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 - Two neighboring multifamily buildings offer two-bedroom units with private laundry and storage areas.
Where is this quadplex located?
The property is located at 2321 N Jones Boulevard Las Vegas, NV.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two neighboring fourplex buildings at 2321 N Jones Boulevard; 3,834 square feet on a 0.18‑acre lot; Units feature 2 bedrooms, 2 full bathrooms, fireplaces, laundry rooms, and storage areas
