Fully Leased
For Sale
$669,000
2937 Elm Ave, Las Vegas, NV 89101
Residential income property with mixed tile and carpet flooring and no HOA obligation.
Property Size3,880 SF
Price / SF$172.42
Days on Market48
Property Features for 2937 Elm Ave
General Information
Standard status
Active
Size
3,880 SF
Property subtype
Multi-Family
Occupancy
100%
Building Details
Year Built
1963
Listing Agency:
Century 21 Americana
Listed By:
Maha Madanat · License #S.0049820
(702) 630-6459
Source:
Cameronhardygroup
Added: Aug 30
Changed: Oct 14
Last Checked: Oct 15 at 1:04AM
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
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Investment Insights
Based on property information with market context.
Built in 1963, this 3,880-square-foot quadplex contains four residential units with a mix of interior finishes. Tile flooring is installed in three units, while the remaining unit has carpet. The property is occupied across all units, with established tenants in place.
Located at 2937 Elm Ave in Las Vegas, Nevada, the property has no HOA. Two units are currently leased month to month, and a third is scheduled to move to month-to-month status in December, providing varied lease timing within the four-unit configuration.
Located at 2937 Elm Ave in Las Vegas, Nevada, the property has no HOA. Two units are currently leased month to month, and a third is scheduled to move to month-to-month status in December, providing varied lease timing within the four-unit configuration.
Key Highlights
- Four‑unit quadplex with 3,880 square feet
- All units are occupied, including long‑term tenants
- Three units feature tile flooring; one has carpet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,659
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
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
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 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 6.68%
Second Best
Apartment 5plus
$589.6K
$515.9K – $687.8K
NOI $41,270 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,849 @ 7.0% cap · market cap 14.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with mixed tile and carpet flooring and no HOA obligation.
Where is this quadplex located?
The property is located at 2937 Elm Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,880 square feet; All units are occupied, including long‑term tenants; Three units feature tile flooring; one has carpet
