Two-Building Quadplex
For Sale
$900,000
2321 North Jones Boulevard, Las Vegas, NV 89108
The offering includes two neighboring quadplex buildings with spacious two-bedroom, two-bath units and no HOA.
Property Size3,834 SF
Days on Market231
Property Features for 2321 North Jones Boulevard
General Information
Standard status
Active
Size
3,834 SF
Property subtype
Multi Family
Units
Unit Mix
8 x 2BR/2BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$4,314
Amenities
fireplace
laundry room
storage area
Building Details
Building Size
3,834 SF
Year Built
1984
Buildings
2
Listing Agency:
Presidio Real Estate Services
(702) 612-1584
Listed By:
Rebecca L. Cordova · License #S.0171584
(702) 612-1584
Source:
Usarealty
Added: Jan 9
Changed: Aug 14
Last Checked: Aug 26 at 12:58PM
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 Presidio Real Estate Services
Investment Insights
Based on property information with market context.
This multifamily offering includes two adjacent quadplex buildings, with each unit configured as a two-bedroom, two-bath residence. Interior features include living room fireplaces, separate laundry rooms, storage areas, and a combination of vinyl and tile flooring. Appliances convey with the sale, and the property has a new roof. The buildings were constructed in 1984.
Clark County business license requirements have been completed, and the property received approval following a fire marshal inspection. There is no HOA. The offering is located at 2321 North Jones Boulevard in Las Vegas, Nevada.
Clark County business license requirements have been completed, and the property received approval following a fire marshal inspection. There is no HOA. The offering is located at 2321 North Jones Boulevard in Las Vegas, Nevada.
Key Highlights
- Two adjacent quadplex buildings offered together
- Two‑bedroom, two‑bath units with living room fireplaces
- Separate laundry rooms and storage areas in each unit
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 - The offering includes two neighboring quadplex buildings with spacious two-bedroom, two-bath units and no HOA.
Where is this quadplex located?
The property is located at 2321 North 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 adjacent quadplex buildings offered together; Two‑bedroom, two‑bath units with living room fireplaces; Separate laundry rooms and storage areas in each unit
