Well-Maintained Triplex with No
For Sale
$425,000
326 16th Street, Las Vegas, NV 89101
Triplex offers three 1-bedroom units with in-unit A/C and ceiling fans, plus separate laundry space.
Property Size1,920 SF
Price / SF$221.35
Days on Market215
Property Features for 326 16th Street
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$991
Amenities
Central Air, Electric
3
Ceramic Tile
Refrigerator, Range, Oven
Window Treatment
Pool
Flat
Spa.
Paved Driveway, No Parking.
Stucco
No Pool
Paved Road.
Building Details
Year Built
1962
Stories
1
Listing Agency:
Century 21 Americana
(702) 271-5500
Listed By:
Corey Geib · License #BS.0040383
(702) 271-5500
Source:
Xome
Added: Jan 6
Changed: Aug 8
Last Checked: Aug 8 at 4:03AM
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
Investment Insights
Based on property information with market context.
This well-maintained triplex features three 1-bedroom, 1-bath units, each with open living space and approximately 640 square feet. Unit interiors include ceiling fans and A/C, and each unit has access to a separate laundry room. The property has seen multiple upgrades, including upgraded quartz countertops, newer kitchen cabinets with soft-close drawers, a more recent water line, water heater, and sewer pump with basin, along with newer roof repairs and electrical panel/lines.
The complex has no HOA. It is located within 1 mile of the Fremont Street Experience and is described as close to shopping, Fremont Street, “the Strip,” and freeway access.
In addition to the existing configuration, the property notes a possibility to add another studio unit.
The complex has no HOA. It is located within 1 mile of the Fremont Street Experience and is described as close to shopping, Fremont Street, “the Strip,” and freeway access.
In addition to the existing configuration, the property notes a possibility to add another studio unit.
Key Highlights
- 3‑unit triplex with long‑term tenants and no HOA.
- Each unit is 1 bed/1 bath with 640 SF, featuring in‑unit A/C, ceiling fans, and open living space.
- Upgraded kitchens with quartz countertops and newer kitchen cabinets with soft‑close drawers.
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
$22,099
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
5.20%
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%
$441,980
$442.0K
Cap Rate 7%
$315,700
$315.7K
Cap Rate 9%
$245,544
$245.5K
Market Conditions
NOI Build-Up for 1,920 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
$33.4K $17.40/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$31.6K $16.44/SF
− OpEx
−$9.5K −$4.93/SF
NOI
$22.1K $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%
$441,980
Cap Rate 7%
$315,700
Cap Rate 9%
$245,544
Alternative Uses
Best Use
Multifamily LT 5
$315.7K
$276.2K – $368.3K
NOI $22,099 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$291.7K
$255.3K – $340.4K
NOI $20,422 @ 7.0% cap · market cap 4.81%
Theoretical Best
Specialty Retail
$663.4K
$580.5K – $774.0K
NOI $46,441 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,187
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?
Triplex - Triplex offers three 1-bedroom units with in-unit A/C and ceiling fans, plus separate laundry space.
Where is this triplex located?
The property is located at 326 16th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3‑unit triplex with long‑term tenants and no HOA.; Each unit is 1 bed/1 bath with 640 SF, featuring in‑unit A/C, ceiling fans, and open living space.; Upgraded kitchens with quartz countertops and newer kitchen cabinets with soft‑close drawers.
