Triplex with On-Site
New
For Sale
$525,000
3117 E Carey Avenue, North Las Vegas, NV 89030
Residential, North Las Vegas, NV
Property Size2,420 SF
Lot Size0.11 Acres
Price / SF$216.94
Days on Market5
Property Features for 3117 E Carey Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking
4
Parking features
Assigned
Subdivision
East Vegas Tr
Elementary school
,
Directions
N on I-15, Exit 45A for Lake Mead Blvd E. L on Las Vegas Blvd, take the traffic circle to head E on Carey Ave. Property is on the right.
Standard status
Active
APN
139-24-510-110
Size
2,420 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
1302
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
central heating and cooling
assigned paved parking
on-site laundry facilities
Building Details
Year built
1981
Floors in Building
2
Number of units
1
Flooring type
Tile - Ceramic, Tile
Building materials
Stucco
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Fathom Realty
(888) 455-6040
Listed By:
Maria C. Castro-DeWitt · License #S.0199794
(725) 252-7182
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 15 at 8:06AM
MLS# 2818166
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 2,420-square-foot triplex was built in 1981 and features a stucco exterior, composition shingle roof, and tile flooring throughout the residences. Central electric heating and cooling serve the property, while on-site laundry facilities and assigned paved parking add practical operating features. Separate electric meters support individual tenant utility management.
The property is located at 3117 E Carey Avenue in North Las Vegas, within Clark County and ZIP code 89030. Public water and public sewer serve the site, which occupies 0.11 acres. The surrounding area includes local schools, shopping centers, and public transit access.
The property is located at 3117 E Carey Avenue in North Las Vegas, within Clark County and ZIP code 89030. Public water and public sewer serve the site, which occupies 0.11 acres. The surrounding area includes local schools, shopping centers, and public transit access.
Key Highlights
- Triplex with 2,420 square feet on a 0.11‑acre lot
- Built in 1981 with stucco construction and a composition shingle roof
- Separate electric meters for tenant utility management
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
$27,560
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
5.25%
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%
$551,200
$551.2K
Cap Rate 7%
$393,714
$393.7K
Cap Rate 9%
$306,222
$306.2K
Market Conditions
NOI Build-Up for 2,420 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
$42.1K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$39.4K $16.27/SF
− OpEx
−$11.8K −$4.88/SF
NOI
$27.6K $11.39/SF
Area
North Las Vegas, NV
Vacancy
6.50%
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%
$551,200
Cap Rate 7%
$393,714
Cap Rate 9%
$306,222
Alternative Uses
Best Use
Multifamily LT 5
$393.7K
$344.5K – $459.3K
NOI $27,560 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$363.8K
$318.4K – $424.5K
NOI $25,469 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$654.9K
$573.0K – $764.1K
NOI $45,843 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Explore this area
Business Placement
Demographics for 89030, NV
56,399
Population
16,632
Households
3.4
Avg Household Size
30
Median Age
5%
College-Educated
58%
High-School Grad
9.5 sq mi
ZIP Area
5,937
Density / Sq Mi
$46,204
Median Household Income
$31,787
Median Earnings
$1,139
Median Rent
$237,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Triplex - Three-unit property with assigned paved parking, separate electric meters, and central heating and cooling.
Where is this triplex located?
The property is located at 3117 E Carey Avenue North Las Vegas, NV.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Triplex with 2,420 square feet on a 0.11‑acre lot; Built in 1981 with stucco construction and a composition shingle roof; Separate electric meters for tenant utility management
