Well-Maintained Triplex Near Fremont
For Sale
$425,000
326 N 16th Street, Las Vegas, NV 89101
MULTI_FAMILY - Other - Las Vegas, NV
Property Size1,920 SF
Lot Size0.14 Acres
Price / SF$221.35
Days on Market170
Property Features for 326 N 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Window features
Blinds
Interior features
Window Treatments
Appliances
Oven, Range, Refrigerator
Subdivision
Fourteenth Street City Add
Elementary school
,
Directions
FROM EASTERN AND STEWART, WEST ON STEWART, NORTH ON 16TH STREET, PROPERTY ON RIGHT HAND SIDE OF STREET.
Standard status
Active
APN
139-35-212-096
Size
1,920 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
991
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1962
Floors in Building
1
Number of units
3
Flooring type
Tile - Ceramic
Building materials
Stucco, Wood Frame
Roof type
Flat
Architectural style
Other
Listing Agency:
Century 21 Americana · Century 21 Real Estate
(702) 296-9999
Listed By:
Corey C. Geib · License #BS.0040383
(702) 271-5500
Added: Feb 20
Changed: Aug 3
Last Checked: Aug 9 at 12:06AM
MLS# 2757588
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 well-maintained triplex, located within 1 mile of the Fremont Street Experience in Las Vegas, presents a residential income opportunity. The property features long-term tenants. Each of the three units offers 640 square feet of living space, including 1 bedroom and 1 bathroom. Each unit is equipped with ceiling fans and air conditioning, and features an open living space. Upgrades include quartz countertops and newer kitchen cabinets with soft-close drawers. Recent improvements include an upgraded water line, water heater, sewer pump with basin, newer roof repairs, and electric panel/lines. A separate laundry room is available. The property is situated on a 0.14-acre lot. The total building size is 1920 square feet. The location provides convenient access to shopping, Fremont Street, the Strip, and the freeway. There is a possibility to add another studio unit.
Key Highlights
- Triplex built in 1962 with no HOA
- Each unit offers 1 bedroom, 1 bath, and 640 SF, with ceiling fans and A/C
- Updated kitchen features include quartz countertops and newer 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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,008
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 near Fremont Street with long-term tenants and upgrades.
Where is this triplex located?
The property is located at 326 N 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: Triplex built in 1962 with no HOA; Each unit offers 1 bedroom, 1 bath, and 640 SF, with ceiling fans and A/C; Updated kitchen features include quartz countertops and newer cabinets with soft‑close drawers
