Four-Unit Property with
For Sale
$779,900
2657 Kline Cir, Las Vegas, NV 89121
Includes detached garages, private outdoor areas, and separately metered gas and electric service.
Property Size4,492 SF
Price / SF$173.62
Days on Market43
Property Features for 2657 Kline Cir
General Information
Standard status
Active
Size
4,492 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 3 x 2BR
Multifamily Units
4
Amenities
pool
Building Details
Year Built
1974
Listing Agency:
Century 21 Americana
Listed By:
MaryAnne A. Ricci
Source:
Tmgluxury
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 8:48PM
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 Century 21 Americana
Investment Insights
Based on property information with market context.
This 4,492-square-foot quadplex, built in 1974, contains one three-bedroom residence and three two-bedroom residences. The main-floor three-bedroom unit includes a fireplace, tile flooring, and a detached two-car garage. Each two-bedroom unit has its own detached one-car garage. Appliances are included throughout, and every residence has either a private yard or balcony.
Gas and electric utilities are separately metered, with tenants responsible for those services. Community amenities include a pool. The property is located at 2657 Kline Cir in Las Vegas, with schools and transportation nearby and an approximately 10-minute drive to the Las Vegas Strip.
Gas and electric utilities are separately metered, with tenants responsible for those services. Community amenities include a pool. The property is located at 2657 Kline Cir in Las Vegas, with schools and transportation nearby and an approximately 10-minute drive to the Las Vegas Strip.
Key Highlights
- Four‑unit property with one 3‑bedroom unit and three 2‑bedroom units
- 4,492 square feet; built in 1974
- Detached garage for every unit, including a 2‑car garage for the 3‑bedroom residence
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
$59,022
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
7.57%
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%
$1,180,440
$1.2M
Cap Rate 7%
$843,171
$843.2K
Cap Rate 9%
$655,800
$655.8K
Market Conditions
NOI Build-Up for 4,492 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
$88.9K $19.80/SF
− Vacancy
−$4.6K −$1.03/SF
EGI
$84.3K $18.77/SF
− OpEx
−$25.3K −$5.63/SF
NOI
$59.0K $13.14/SF
Area
ZIP 89121
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,180,440
Cap Rate 7%
$843,171
Cap Rate 9%
$655,800
Alternative Uses
Best Use
Multifamily LT 5
$843.2K
$737.8K – $983.7K
NOI $59,022 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$756.4K
$661.9K – $882.5K
NOI $52,950 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,599 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,183
Businesses Nearby
Explore this area
Business Placement
Demographics for 89121, NV
68,692
Population
29,012
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
78%
High-School Grad
9.2 sq mi
ZIP Area
7,467
Density / Sq Mi
$54,667
Median Household Income
$32,776
Median Earnings
$1,306
Median Rent
$288,400
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?
Quadplex - Includes detached garages, private outdoor areas, and separately metered gas and electric service.
Where is this quadplex located?
The property is located at 2657 Kline Cir Las Vegas, NV.
What is the asking price?
The asking price for this property is $779,900.
What are key features of this property?
This property features: Four‑unit property with one 3‑bedroom unit and three 2‑bedroom units; 4,492 square feet; built in 1974; Detached garage for every unit, including a 2‑car garage for the 3‑bedroom residence
