Small Multifamily Apartment
For Sale
$785,000
2536 Carroll St, North Las Vegas, NV 89030
Five-unit property with mostly newly updated interiors and an on-site laundry room.
Property Size3,088 SF
Days on Market51
Property Features for 2536 Carroll St
General Information
Standard status
Active
Size
3,088 SF
Property subtype
Multi Family
Additional Details
Cap Rate
7%
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$1,235
Building Details
Building Size
3,088 SF
Year Built
1954
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Rothwell Gornt Companies
(702) 768-5755
Listed By:
Richard Crighton · License #B.0046791
(702) 768-5755
Source:
Elliman
Added: Jun 23
Changed: Aug 11
Last Checked: Aug 12 at 6:08AM
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 Rothwell Gornt Companies
Investment Insights
Based on property information with market context.
This small multifamily apartment building offers five total units in good condition. The unit mix includes one 3-bedroom/2-bath and one 2-bedroom/1-bath, and three 1-bedroom/1-bath apartments. Per the property description, the larger units have new kitchens, new baths, new HVAC systems, new plumbing, new electrical, new cabinets, new flooring, and a new roof. The three 1-bedroom/1-bath units have updated kitchens and new flooring. The property also includes a separate on-site laundry room for tenant convenience.
Located at 2536 Carroll St in North Las Vegas, Nevada 89030. Reported mobility indicators include a walk score of 65 (somewhat walkable), a transit score of 43 (some transit), and a bike score of 54 (bikeable).
For investors or owner-operators, this configuration can support a range of household needs with a mix of 1-bedroom through 3-bedroom layouts. The interior refresh described for the majority of units, along with the presence of on-site laundry, may appeal to tenants seeking move-in-ready apartments and practical day-to-day convenience.
Located at 2536 Carroll St in North Las Vegas, Nevada 89030. Reported mobility indicators include a walk score of 65 (somewhat walkable), a transit score of 43 (some transit), and a bike score of 54 (bikeable).
For investors or owner-operators, this configuration can support a range of household needs with a mix of 1-bedroom through 3-bedroom layouts. The interior refresh described for the majority of units, along with the presence of on-site laundry, may appeal to tenants seeking move-in-ready apartments and practical day-to-day convenience.
Key Highlights
- 5‑unit property, year built 1954
- Two units: 3 bed/2 bath and 2 bed/1 bath with new kitchens, baths, HVAC, plumbing, electrical, cabinets, flooring, and new roof
- Three 1 bed/1 bath units with new flooring and kitchens
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
$32,499
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
4.14%
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%
$649,980
$650.0K
Cap Rate 7%
$464,271
$464.3K
Cap Rate 9%
$361,100
$361.1K
Market Conditions
NOI Build-Up for 3,088 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
$63.0K $20.40/SF
− Vacancy
−$3.9K −$1.26/SF
EGI
$59.1K $19.14/SF
− OpEx
−$26.6K −$8.61/SF
NOI
$32.5K $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 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%
$649,980
Cap Rate 7%
$464,271
Cap Rate 9%
$361,100
Alternative Uses
Best Use
Apartment 5plus
$464.3K
$406.2K – $541.7K
NOI $32,499 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$835.7K
$731.2K – $975.0K
NOI $58,497 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,205
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
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?
Apartment building - Five-unit property with mostly newly updated interiors and an on-site laundry room.
Where is this apartment building located?
The property is located at 2536 Carroll St North Las Vegas, NV.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 5‑unit property, year built 1954; Two units: 3 bed/2 bath and 2 bed/1 bath with new kitchens, baths, HVAC, plumbing, electrical, cabinets, flooring, and new roof; Three 1 bed/1 bath units with new flooring and kitchens
