Updated Quadplex with Courtyard
For Sale
$675,000
2508 E Mesquite Avenue, Las Vegas, NV 89101
MULTI_FAMILY - Other - Las Vegas, NV
Property Size2,870 SF
Lot Size0.15 Acres
Price / SF$235.19
Days on Market66
Property Features for 2508 E Mesquite Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Window Treatments
Appliances
Refrigerator, Water Heater
Subdivision
Artesian Acres
Elementary school
,
Directions
From US-95 Exit North on Eastern, East(R) on Mesquite to Property on the South Side of Street.
Standard status
Active
APN
139-36-114-005
Size
2,870 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
1661
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1963
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Building materials
Stucco
Roof type
Shingle, Flat, Composition
Architectural style
Other
Listing Agency:
Realty ONE Group, Inc
(702) 898-7575
Listed By:
Deshawn L. Williams · License #S.0191465
(702) 286-5863
Added: Jun 7
Changed: Aug 1
Last Checked: Aug 11 at 11:06PM
MLS# 2789715
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.
Updated quadplex on a 0.15-acre lot featuring a courtyard-style layout and ample parking. The property is a fourplex with three 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, with three of four units currently occupied and generating rental income.
Recent major capital improvements include brand-new building-wide plumbing in 2024, updated water heaters, renovated bathrooms in all four units, updated windows, and luxury vinyl plank flooring in three units. The remaining unit also benefits from completed renovations throughout the building. Electric service is separately metered, which can help streamline owner expense management.
Built in 1963, the structure includes central electric heating and central air conditioning. Additional utilities and services include public water and public sewer, with a composition shingle and flat roof system. Interior amenities include window treatments, and appliances include a refrigerator and water heater.
Recent major capital improvements include brand-new building-wide plumbing in 2024, updated water heaters, renovated bathrooms in all four units, updated windows, and luxury vinyl plank flooring in three units. The remaining unit also benefits from completed renovations throughout the building. Electric service is separately metered, which can help streamline owner expense management.
Built in 1963, the structure includes central electric heating and central air conditioning. Additional utilities and services include public water and public sewer, with a composition shingle and flat roof system. Interior amenities include window treatments, and appliances include a refrigerator and water heater.
Key Highlights
- Three of four units currently occupied and generating rental income
- 0.15‑acre lot with courtyard‑style layout and ample parking
- Unit mix: three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath 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
$33,034
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
4.89%
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%
$660,680
$660.7K
Cap Rate 7%
$471,914
$471.9K
Cap Rate 9%
$367,044
$367.0K
Market Conditions
NOI Build-Up for 2,870 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
$49.9K $17.40/SF
− Vacancy
−$2.7K −$0.96/SF
EGI
$47.2K $16.44/SF
− OpEx
−$14.2K −$4.93/SF
NOI
$33.0K $11.51/SF
Area
Las Vegas, NV
Vacancy
5.50%
Lease Rate
$17.40 /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%
$660,680
Cap Rate 7%
$471,914
Cap Rate 9%
$367,044
Alternative Uses
Best Use
Multifamily LT 5
$471.9K
$412.9K – $550.6K
NOI $33,034 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$436.1K
$381.6K – $508.8K
NOI $30,527 @ 7.0% cap · market cap 4.52%
Theoretical Best
Specialty Retail
$991.7K
$867.7K – $1.16M
NOI $69,419 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,353
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated quadplex with three 2-bedroom units and one 1-bedroom unit, courtyard layout, and separately metered electric service.
Where is this quadplex located?
The property is located at 2508 E Mesquite Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three of four units currently occupied and generating rental income; 0.15‑acre lot with courtyard‑style layout and ample parking; Unit mix: three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
