Renovated Five-Unit Apartment
For Sale
$785,000
2536 Carroll St, North Las Vegas, NV 89030
Updated interiors, varied unit layouts, and a separate laundry room create a practical multifamily configuration.
Property Size3,088 SF
Price / SF$254.21
Days on Market38
Property Features for 2536 Carroll St
General Information
Standard status
Active
Size
3,088 SF
Property subtype
Multi-Family
Financials
Cap Rate
7%
Average Monthly Rent
$1,063
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
5
Amenities
on-site laundry room
Building Details
Year Built
1954
Listing Agency:
Rothwell Gornt Companies
(702) 768-5755
Listed By:
Richard Crighton · License #B.0046791
Source:
Tmgluxury
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 25 at 5:45AM
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 3,088-square-foot apartment property contains five units: one three-bedroom, two-bath residence, one two-bedroom, one-bath residence, and three one-bedroom, one-bath residences. Improvements include new kitchens, bathrooms, HVAC systems, plumbing, electrical work, cabinets, flooring, and roofing in the larger units, while the one-bedroom units have updated kitchens and flooring. A separate on-site laundry room serves the property.
Built in 1954, the building is located at 2536 Carroll St in North Las Vegas, Nevada. The property is offered with a stated 7.0% cap rate and provides a diversified unit mix within a compact multifamily asset.
Built in 1954, the building is located at 2536 Carroll St in North Las Vegas, Nevada. The property is offered with a stated 7.0% cap rate and provides a diversified unit mix within a compact multifamily asset.
Key Highlights
- Five total apartment units with one 3bed/2bath, one 2bed/1bath, and three 1bed/1bath units
- 3,088 SF apartment property built in 1954
- New kitchens, baths, HVACs, plumbing, electrical, cabinets, flooring, and roof in the larger units
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
Location Intelligence
Trade Area within ½ mile
637
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated interiors, varied unit layouts, and a separate laundry room create a practical multifamily configuration.
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: Five total apartment units with one 3bed/2bath, one 2bed/1bath, and three 1bed/1bath units; 3,088 SF apartment property built in 1954; New kitchens, baths, HVACs, plumbing, electrical, cabinets, flooring, and roof in the larger units
