Four-Unit Property with
For Sale
$800,000
2894 Karen Avenue, Las Vegas, NV 89121
Residential, Las Vegas, NV
Property Size4,492 SF
Lot Size0.23 Acres
Price / SF$178.09
Days on Market92
Property Features for 2894 Karen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Interior features
Storage
Appliances
Refrigerator
Subdivision
Elsol Del Pueblo
Elementary school
,
Directions
East on Sahara, past Eastern. Right on Atlantic. Left on Karen.
Standard status
Active
APN
162-12-112-031
Size
4,492 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
2995
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
roving security patrol
community pool
Building Details
Year built
1974
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile, Vinyl
Building materials
Wood Frame
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Rothwell Gornt Companies
(702) 932-8813
Listed By:
Ryan Crighton · License #BS.0000254
(702) 217-1048
Added: May 26
Changed: Aug 20
Last Checked: Aug 25 at 5:06AM
MLS# 2785828
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 4,492-square-foot quadplex, built in 1974, contains four distinct residences on a 0.23-acre lot. The owner unit is single-story with three bedrooms, two baths, a private patio, and a two-car garage. The second residence offers two bedrooms, two baths, a patio, and a one-car garage. The third has a townhouse-style layout with both bedrooms upstairs, a private patio, and a one-car garage. The fourth residence is positioned above the garages and includes two bedrooms, one bath, a large deck, and a one-car garage.
All garages have washer-dryer hookups. Property features include storage, refrigerator appliances, carpet, tile and vinyl flooring, central heating and cooling, natural gas, public water, and public sewer. The surrounding community includes a pool and roving security patrol.
All garages have washer-dryer hookups. Property features include storage, refrigerator appliances, carpet, tile and vinyl flooring, central heating and cooling, natural gas, public water, and public sewer. The surrounding community includes a pool and roving security patrol.
Key Highlights
- 4,492 SF quadplex on 0.23 acres
- Four residences with private patios or decks
- Owner unit includes 3 bedrooms, 2 baths, and a 2‑car garage
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
7.38%
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 7.38%
Second Best
Apartment 5plus
$756.4K
$661.9K – $882.5K
NOI $52,950 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,599 @ 7.0% cap · market cap 10.20%
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
681
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Separate residences offer varied layouts, private outdoor areas, and individual garage parking.
Where is this quadplex located?
The property is located at 2894 Karen Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 4,492 SF quadplex on 0.23 acres; Four residences with private patios or decks; Owner unit includes 3 bedrooms, 2 baths, and a 2‑car garage
