Fourplex with One Remodeled
For Sale
$474,998
405 North 15th Street, Las Vegas, NV 89101
Four one-bedroom residences are served by all-electric utilities, with one unit currently occupied and three vacant.
Property Size1,920 SF
Lot Size0.15 Acres
Days on Market14
Property Features for 405 North 15th Street
General Information
Standard status
Active
Size
1,920 SF
Lot size
0.15 Acres
Property subtype
Multi Family
Site & Location
Neighborhood
East Fremont
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,116
Building Details
Building Size
1,920 SF
Year Built
1954
Listing Agency:
Galindo Group Real Estate
Listed By:
Valeria G. Mariscal-Marquez · License #S.0182961
(702) 978-2215
Source:
Usarealty
Added: Oct 16
Changed: Oct 25
Last Checked: Oct 28 at 3:42PM
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 Galindo Group Real Estate
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Investment Insights
Based on property information with market context.
This Las Vegas fourplex contains four one-bedroom, one-bathroom units, each approximately 480 square feet. One unit has been remodeled. The property was built in 1954 and sits on an approximately 6,534-square-foot lot. Utilities are all-electric, and there is no HOA.
One unit is tenant-occupied at $900 per month, while the other three are vacant. The property is in Las Vegas, with access to Downtown Las Vegas, shopping, dining, and major roadways.
One unit is tenant-occupied at $900 per month, while the other three are vacant. The property is in Las Vegas, with access to Downtown Las Vegas, shopping, dining, and major roadways.
Key Highlights
- Four units, each with 1 bedroom and 1 bathroom
- Each unit is approximately 480 square feet
- Three units are vacant; one is tenant‑occupied at $900/month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,099
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
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
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 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 4.65%
Second Best
Apartment 5plus
$291.7K
$255.3K – $340.4K
NOI $20,422 @ 7.0% cap · market cap 4.30%
Theoretical Best
Specialty Retail
$663.4K
$580.5K – $774.0K
NOI $46,441 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,599
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences are served by all-electric utilities, with one unit currently occupied and three vacant.
Where is this quadplex located?
The property is located at 405 North 15th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $474,998.
What are key features of this property?
This property features: Four units, each with 1 bedroom and 1 bathroom; Each unit is approximately 480 square feet; Three units are vacant; one is tenant‑occupied at $900/month
