Quadplex with Private
For Sale
$775,000
Pending
2658 Karen Avenue, Las Vegas, NV 89121
MULTI_FAMILY - Other - Las Vegas, NV
Property Size4,492 SF
Lot Size0.24 Acres
Days on Market47
Property Features for 2658 Karen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Patio and Porch features
Patio
Interior features
Window Treatments
Appliances
Dryer, Dishwasher, Refrigerator, Water Heater, Washer
Subdivision
Elsol Del Pueblo
Elementary school
,
Directions
East on Sahara, past Eastern. Right on Atlantic. Left pm Karen.
Standard status
Pending
APN
162-12-112-020
Size
4,492 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
3016
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
private patio
Building Details
Year built
1974
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile
Building materials
Wood Frame
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Realty ONE Group, Inc
(702) 898-1221
Listed By:
Junko Shimada · License #S.0173393
(702) 635-6249
Added: Jun 27
Changed: Aug 1
Last Checked: Aug 12 at 1:06AM
MLS# 2794496
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 quadplex on Karen Avenue offers private patios and private garages for every unit. The property is fully occupied, supporting immediate rental income. Construction is wood frame with carpet and tile flooring, and includes window treatments plus in-unit appliances such as a dishwasher, refrigerator, washer and dryer, and water heaters. Heating is central natural gas with central air conditioning.
The property sits on a 0.24-acre lot and includes 4,492 square feet of living area. Built in 1974, the roof is shingle/composition. Recent work includes a roof tune-up completed in 2024. Unit 3 was updated in 2024, with A/C repairs completed for Units 1 and 2 in 2026. New water heaters were installed in Units 3 and 4 in 2025.
Utilities are public water and public sewer. Additional property details are available through the listing agent.
The property sits on a 0.24-acre lot and includes 4,492 square feet of living area. Built in 1974, the roof is shingle/composition. Recent work includes a roof tune-up completed in 2024. Unit 3 was updated in 2024, with A/C repairs completed for Units 1 and 2 in 2026. New water heaters were installed in Units 3 and 4 in 2025.
Utilities are public water and public sewer. Additional property details are available through the listing agent.
Key Highlights
- Private patios and private garages for every unit, fully occupied for immediate rental income
- Unit 3 updated in 2024; roof tune‑up completed in 2024
- A/C repairs completed for Units 1 and 2 in 2026
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
7.62%
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 7.62%
Second Best
Apartment 5plus
$756.4K
$661.9K – $882.5K
NOI $52,950 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,599 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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 - Quadplex offering private patios and private garages for every unit, with recent updates across multiple units.
Where is this quadplex located?
The property is located at 2658 Karen Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Private patios and private garages for every unit, fully occupied for immediate rental income; Unit 3 updated in 2024; roof tune‑up completed in 2024; A/C repairs completed for Units 1 and 2 in 2026
