Single-Story Fourplex with Renovated
New
For Sale
$689,000
2516 Ellis Street, North Las Vegas, NV 89030
Residential, North Las Vegas, NV
Property Size3,204 SF
Lot Size0.20 Acres
Price / SF$215.04
Days on Market2
Property Features for 2516 Ellis Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Exterior features
Private Yard
Appliances
Refrigerator, Water Heater
Subdivision
Arrowhead Acres Tr
Elementary school
,
Directions
Head east from East Lake Mead and Civic Center, left on Ellis Street, pass Carey Ave, property will be on your right.
Standard status
Active
APN
139-13-410-167
Size
3,204 SF
Lot size
0.20 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
1677
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
Tile, Vinyl
Building materials
Block, Stucco
Architectural style
Other
Buildings
1
Listing Agency:
Simply Vegas
(702) 568-6800
Listed By:
Catherine Hyde · License #S.0070366
(702) 408-2289
Added: Oct 27
Last Checked: Oct 28 at 7:06PM
MLS# 2829962
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.
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Investment Insights
Based on property information with market context.
This 3,204-square-foot, single-story fourplex contains four 2-bedroom, 1-bath units. Three are occupied, and the fourth has been renovated and is available for lease. Two units received renovations in 2024; Unit D has a new A/C system. The property was built in 1963 and has block and stucco construction, central air conditioning, electric heat, tile and vinyl flooring, and a private yard.
At 0.2 acres, the property is served by public water and public sewer. It is in North Las Vegas, with access to I-15 and proximity to Downtown Las Vegas, shopping, schools, and parks.
At 0.2 acres, the property is served by public water and public sewer. It is in North Las Vegas, with access to I-15 and proximity to Downtown Las Vegas, shopping, schools, and parks.
Key Highlights
- Four 2‑bedroom, 1‑bath units in a single‑story building
- 3,204 square feet on a 0.2‑acre lot
- Three units occupied; one renovated unit available for lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,488
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,760
$729.8K
Cap Rate 7%
$521,257
$521.3K
Cap Rate 9%
$405,422
$405.4K
Market Conditions
NOI Build-Up for 3,204 SF
Gross rent
$55.7K $17.40/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$52.1K $16.27/SF
− OpEx
−$15.6K −$4.88/SF
NOI
$36.5K $11.39/SF
Area
North Las Vegas, NV
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,760
Cap Rate 7%
$521,257
Cap Rate 9%
$405,422
Alternative Uses
Best Use
Multifamily LT 5
$521.3K
$456.1K – $608.1K
NOI $36,488 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$481.7K
$421.5K – $562.0K
NOI $33,720 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$867.1K
$758.7K – $1.01M
NOI $60,694 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four matching two-bedroom apartments provide a consistent unit mix, with three currently occupied.
Where is this quadplex located?
The property is located at 2516 Ellis Street North Las Vegas, NV.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units in a single‑story building; 3,204 square feet on a 0.2‑acre lot; Three units occupied; one renovated unit available for lease
