Fourplex with In-Unit Laundry
For Sale
$599,999
Pending
2937 Stewart Avenue, Las Vegas, NV 89101
Four all-2-bedroom, 2-bath units include washer/dryer hookups, offering straightforward residential income configuration.
Property Size3,880 SF
Days on Market108
Property Features for 2937 Stewart Avenue
General Information
Standard status
Pending
Size
3,880 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,027
Amenities
washer/dryer hookups
Building Details
Building Size
3,880 SF
Year Built
1962
Tenancy
Multi
Listing Agency:
United Realty Group
Listed By:
Oscar Hernandez · License #BS.0145780
(702) 375-5974
Source:
Vicerealtygroup
Added: May 28
Changed: Sep 6
Last Checked: Sep 12 at 7:19AM
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 United Realty Group
Investment Insights
Based on property information with market context.
This fourplex provides four units, each configured as two bedrooms and two bathrooms. Washer and dryer hookups are available for residents, supporting in-unit laundry convenience.
The property is located near Downtown Las Vegas and the Fremont Street Experience, with easy freeway access. Shopping, dining, and schools are noted nearby.
As a residential income property, the asset’s consistent unit mix and laundry hookups may simplify management and leasing for qualified owners and investors.
The property is located near Downtown Las Vegas and the Fremont Street Experience, with easy freeway access. Shopping, dining, and schools are noted nearby.
As a residential income property, the asset’s consistent unit mix and laundry hookups may simplify management and leasing for qualified owners and investors.
Key Highlights
- 1962‑built fourplex with four all‑2‑bedroom, 2‑bath units
- Washer/dryer hookups available in each unit
- Convenient near Downtown Las Vegas and the Fremont Street Experience
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
7.44%
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 7.44%
Second Best
Apartment 5plus
$589.6K
$515.9K – $687.8K
NOI $41,270 @ 7.0% cap · market cap 6.88%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,849 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,188
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four all-2-bedroom, 2-bath units include washer/dryer hookups, offering straightforward residential income configuration.
Where is this quadplex located?
The property is located at 2937 Stewart Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 1962‑built fourplex with four all‑2‑bedroom, 2‑bath units; Washer/dryer hookups available in each unit; Convenient near Downtown Las Vegas and the Fremont Street Experience
