Six-Unit Apartment
2405 McCarran St, North Las Vegas, NV 89030
For Sale
$1,800,000
Two parcels include occupied apartments and architectural plans for additional residential buildings.
Property Size5,760 SF
Price / SF$312.50
Days on Market197
Property Features for 2405 McCarran St
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Coldwell Banker Premier
Listed By:
Michael T. Oliver mike.oliver@cbvegas.com · License #S.0169549
(702) 525-6319
Source:
Searchvegashomesforsale
Added: Apr 25
Changed: Nov 1
Last Checked: Nov 6 at 9:26AM
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 Coldwell Banker Premier
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Investment Insights
Based on property information with market context.
This North Las Vegas multifamily property includes two parcels and six occupied apartments arranged in two triplex buildings. Each residence is configured with two bedrooms and two bathrooms. The improvements date to 1963, and the property includes an approximately 1,850-square-foot warehouse positioned between the apartment buildings.
Architectural plans are included for two additional triplex buildings north of the existing residences, creating a proposed 12-unit configuration while allowing the current apartments to remain in place during potential construction. The plans also call for removing the warehouse and developing a central courtyard to serve the expanded property. A North Las Vegas Fire Station is under construction immediately west of the site.
Architectural plans are included for two additional triplex buildings north of the existing residences, creating a proposed 12-unit configuration while allowing the current apartments to remain in place during potential construction. The plans also call for removing the warehouse and developing a central courtyard to serve the expanded property. A North Las Vegas Fire Station is under construction immediately west of the site.
Key Highlights
- Six occupied apartment units in two triplex buildings
- Each unit offers 2 bedrooms and 2 bathrooms
- Two parcels included in the offering
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,620
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,400
$1.2M
Cap Rate 7%
$866,000
$866.0K
Cap Rate 9%
$673,556
$673.6K
Market Conditions
NOI Build-Up for 5,760 SF
Gross rent
$117.5K $20.40/SF
− Vacancy
−$7.3K −$1.26/SF
EGI
$110.2K $19.14/SF
− OpEx
−$49.6K −$8.61/SF
NOI
$60.6K $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%
$1,212,400
Cap Rate 7%
$866,000
Cap Rate 9%
$673,556
Alternative Uses
Best Use
Apartment 5plus
$866.0K
$757.8K – $1.01M
NOI $60,620 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,113 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,187
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
$237,300
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Clark County, NV
Properties on Market for Apartment buildings in Clark County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two parcels include occupied apartments and architectural plans for additional residential buildings.
Where is this apartment building located?
The property is located at 2405 McCarran St North Las Vegas, NV.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Six occupied apartment units in two triplex buildings; Each unit offers 2 bedrooms and 2 bathrooms; Two parcels included in the offering
