5-Unit Apartment Building with
For Sale
$749,900
2536 Carroll Street, North Las Vegas, NV 89030
Residential, North Las Vegas, NV
Property Size3,088 SF
Lot Size0.18 Acres
Price / SF$242.84
Days on Market97
Property Features for 2536 Carroll Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Window Treatments
Appliances
Refrigerator
Subdivision
Arrowhead Acres Tr
Elementary school
,
Directions
From Las Vegas Blvd & Lake Mead go S on Las Vegas Blvd. Left on Carroll St
Standard status
Active
APN
139-13-410-014
Size
3,088 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
1235
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace, Electric (Heating), Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
on-site laundry room
Building Details
Year built
1954
Floors in Building
1
Number of units
4
Flooring type
Tile, Tile - Ceramic
Building materials
Wood Frame
Architectural style
Other
Listing Agency:
Rothwell Gornt Companies
(702) 932-8813
Listed By:
Richard Crighton · License #B.0046791
(702) 768-5755
Added: Jun 18
Changed: Sep 21
Last Checked: Sep 22 at 6:06PM
MLS# 2792859
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.
This 5-unit apartment property contains 3,088 square feet on a 0.18-acre site. The unit mix includes one 3-bedroom, 2-bath residence, one 2-bedroom, 1-bath residence, and three 1-bedroom, 1-bath residences. New flooring and kitchen improvements are noted across the units, with ceramic tile also present. A separate on-site laundry room adds a dedicated resident amenity.
Built in 1954, the property uses wood-frame construction and is served by public water and public sewer. Heating includes electric systems, wall furnaces, and central equipment, while cooling is provided through central air and window units. The property is located at 2536 Carroll Street in North Las Vegas, Nevada, within Clark County. A 7.0% cap rate is reported for the asset.
Built in 1954, the property uses wood-frame construction and is served by public water and public sewer. Heating includes electric systems, wall furnaces, and central equipment, while cooling is provided through central air and window units. The property is located at 2536 Carroll Street in North Las Vegas, Nevada, within Clark County. A 7.0% cap rate is reported for the asset.
Key Highlights
- 5 total units with a mix of one 3‑bedroom, one 2‑bedroom, and three 1‑bedroom residences
- 3,088 square feet on a 0.18‑acre parcel
- Separate on‑site laundry room
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
4.33%
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 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$835.7K
$731.2K – $975.0K
NOI $58,497 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit property with renovated kitchens, updated flooring, and a separate laundry room serving the residents.
Where is this apartment building located?
The property is located at 2536 Carroll Street North Las Vegas, NV.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 5 total units with a mix of one 3‑bedroom, one 2‑bedroom, and three 1‑bedroom residences; 3,088 square feet on a 0.18‑acre parcel; Separate on‑site laundry room
