Remodeled Quadplex with Rear
For Sale
$750,000
2905 Elm Ave, Las Vegas, NV 89101
Four two-bedroom residences offer a consistent unit layout with on-site lighting and parking behind the building.
Property Size3,880 SF
Price / SF$193.30
Days on Market41
Property Features for 2905 Elm Ave
General Information
Standard status
Active
Size
3,880 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$46,800
Amenities
outside lighting
Building Details
Year Built
1963
Tenancy
Multi
Listing Agency:
RX Realty
(818) 636-8649
Listed By:
Delia M. Lopez · License #S.0173040
Source:
Cameronhardygroup
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 7:20PM
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 RX Realty
Investment Insights
Based on property information with market context.
This quadplex at 2905 Elm Ave in Las Vegas contains 3,880 square feet and was built in 1963. Each of the four residences provides two bedrooms and one bathroom. Unit A has undergone a complete remodel, while exterior lighting and parking behind the building serve the property.
Units A and D are rented month to month. The lease for Unit B expires 2/28/2026, and Unit C is leased through 6/30/2026. The property is near schools, shopping, freeway access, and public transportation, providing connectivity to everyday services and regional travel routes.
Units A and D are rented month to month. The lease for Unit B expires 2/28/2026, and Unit C is leased through 6/30/2026. The property is near schools, shopping, freeway access, and public transportation, providing connectivity to everyday services and regional travel routes.
Key Highlights
- Four‑unit quadplex with 3,880 square feet, built in 1963
- All units feature a 2 bedroom/1 bath layout
- Unit A was totally remodeled
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
$44,659
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
5.95%
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%
$893,180
$893.2K
Cap Rate 7%
$637,986
$638.0K
Cap Rate 9%
$496,211
$496.2K
Market Conditions
NOI Build-Up for 3,880 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
$67.5K $17.40/SF
− Vacancy
−$3.7K −$0.96/SF
EGI
$63.8K $16.44/SF
− OpEx
−$19.1K −$4.93/SF
NOI
$44.7K $11.51/SF
Area
Las Vegas, NV
Vacancy
5.50%
Lease Rate
$17.40 /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%
$893,180
Cap Rate 7%
$637,986
Cap Rate 9%
$496,211
Alternative Uses
Best Use
Multifamily LT 5
$638.0K
$558.2K – $744.3K
NOI $44,659 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$589.6K
$515.9K – $687.8K
NOI $41,270 @ 7.0% cap · market cap 5.50%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,849 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
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 - Four two-bedroom residences offer a consistent unit layout with on-site lighting and parking behind the building.
Where is this quadplex located?
The property is located at 2905 Elm Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,880 square feet, built in 1963; All units feature a 2 bedroom/1 bath layout; Unit A was totally remodeled
