Four-Unit Quadplex with Onsite
3228 Arlene Way, Las Vegas, NV 89108
For Sale
$850,000
Residential, Las Vegas, NV
Property Size3,966 SF
Lot Size0.17 Acres
Price / SF$214.32
Days on Market61
Property Features for 3228 Arlene Way
General Information
Property type
Property subtype
Appliances
Subdivision
Elementary school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
onsite laundry
separated storage space
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Realty ONE Group, Inc
(702) 898-1010
Listed By:
Alan F. Wheelock · License NV S.0062633
(702) 378-1339
Added: Sep 15
Changed: Nov 10
Last Checked: Nov 14 at 1:06AM
MLS# 2819065
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.
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Investment Insights
Based on property information with market context.
This four-unit residential property contains 3,966 square feet with eight bedrooms and five full bathrooms across the building. Unit interiors include laminate, wood, hardwood, tile, and ceramic tile flooring, along with kitchens that feature breakfast bars and sitting areas. On-site laundry and separate storage for each unit support day-to-day operations, while central heating and central air provide building-wide climate control.
Built in 1964 on a 0.17-acre corner lot, the property includes substantial parking, sidewalks, palm landscaping, stucco and wood-frame construction, and a shingle and composition roof. Public water and public sewer serve the property. The address is 3228 Arlene Way in Las Vegas, with shopping, public transportation, and restaurants located nearby.
Built in 1964 on a 0.17-acre corner lot, the property includes substantial parking, sidewalks, palm landscaping, stucco and wood-frame construction, and a shingle and composition roof. Public water and public sewer serve the property. The address is 3228 Arlene Way in Las Vegas, with shopping, public transportation, and restaurants located nearby.
Key Highlights
- 3,966‑square‑foot four‑unit property with eight bedrooms and five full bathrooms
- 0.17‑acre corner lot with substantial parking and sidewalks
- Separate storage space designated for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,110
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,042,200
$1.0M
Cap Rate 7%
$744,429
$744.4K
Cap Rate 9%
$579,000
$579.0K
Market Conditions
NOI Build-Up for 3,966 SF
Gross rent
$78.5K $19.80/SF
− Vacancy
−$4.1K −$1.03/SF
EGI
$74.4K $18.77/SF
− OpEx
−$22.3K −$5.63/SF
NOI
$52.1K $13.14/SF
Area
ZIP 89108
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 Rate 5%
$1,042,200
Cap Rate 7%
$744,429
Cap Rate 9%
$579,000
Alternative Uses
Best Use
Multifamily LT 5
$744.4K
$651.4K – $868.5K
NOI $52,110 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$667.9K
$584.4K – $779.2K
NOI $46,750 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$1.34M
$1.17M – $1.57M
NOI $93,957 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
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Business Placement
Demographics for 89108, NV
73,637
Population
28,377
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
80%
High-School Grad
8.9 sq mi
ZIP Area
8,274
Density / Sq Mi
$57,403
Median Household Income
$36,383
Median Earnings
$1,431
Median Rent
$304,400
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Las Vegas, NV
Properties on Market for Quadplexes in Las Vegas
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer shared parking, private storage, breakfast bars, and on-site laundry in a corner-lot setting.
Where is this quadplex located?
The property is located at 3228 Arlene Way Las Vegas, NV.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,966‑square‑foot four‑unit property with eight bedrooms and five full bathrooms; 0.17‑acre corner lot with substantial parking and sidewalks; Separate storage space designated for each unit
