Fourplex with Courtyard
For Sale
$675,000
2508 East Mesquite Avenue, Las Vegas, NV 89101
Three apartments are occupied, and each unit has separately metered electric service.
Property Size2,870 SF
Price / SF$235.19
Days on Market144
Property Features for 2508 East Mesquite Avenue
General Information
Standard status
Active
Size
2,870 SF
Property subtype
Multi Family
Occupancy
75%
Site & Location
Neighborhood
Arthur McCants
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Individually Metered Utilities
electricity
Additional Details
Gross Income
$46,200
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$1,661
Building Details
Building Size
2,870 SF
Year Built
1963
Listing Agency:
Realty ONE Group, Inc
Listed By:
Deshawn L. Williams · License #S.0191465
(702) 286-5863
Source:
Marionrealestateservices
Added: Jun 7
Changed: Oct 27
Last Checked: Oct 27 at 3:20AM
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 Realty ONE Group, Inc
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Investment Insights
Based on property information with market context.
Built in 1963, this 2,870-square-foot fourplex has four apartments: three with two bedrooms and one bathroom, and one with a bedroom and one bathroom. Three units are occupied. A courtyard-style arrangement organizes the property, with parking on site.
Building-wide plumbing was replaced in 2024. Other improvements include updated water heaters and windows, renovated bathrooms in all four apartments, and luxury vinyl plank flooring in three. Electric service is separately metered for each unit.
The property is near Downtown Las Vegas and the Arts District, as well as shopping, dining, public transportation, and major employment centers.
Building-wide plumbing was replaced in 2024. Other improvements include updated water heaters and windows, renovated bathrooms in all four apartments, and luxury vinyl plank flooring in three. Electric service is separately metered for each unit.
The property is near Downtown Las Vegas and the Arts District, as well as shopping, dining, public transportation, and major employment centers.
Key Highlights
- Four apartments: three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Three of four units occupied
- 2,870 square feet; built in 1963
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,034
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
949
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Three apartments are occupied, and each unit has separately metered electric service.
Where is this quadplex located?
The property is located at 2508 East 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: Four apartments: three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Three of four units occupied; 2,870 square feet; built in 1963
