Four-Unit
For Sale
$595,999
416 N 15th Street, Las Vegas, NV 89101
Multi-level residential income property positioned near downtown with a consistent one-bedroom, one-bathroom unit configuration.
Property Size2,128 SF
Days on Market86
Property Features for 416 N 15th Street
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Multi Family Home
Lease Term
Monthly
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,234
Building Details
Building Size
2,128 SF
Year Built
1966
Buildings
1
Stories
1
Units
4
Listing Agency:
United Realty Group
(702) 773-6244
Listed By:
Edgar Renderos
(702) 773-6244
Source:
Landandmore
Added: May 18
Changed: Aug 5
Last Checked: Aug 11 at 1:22PM
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 United Realty Group
Investment Insights
Based on property information with market context.
This 1966 quadplex contains four residential units, each arranged with one bedroom and one bathroom. The building offers a split-level configuration, with three apartments on the lower floor and one apartment upstairs.
The property is located at 416 N 15th Street in Las Vegas, providing proximity to downtown. Its four-unit layout and consistent floor plans establish a straightforward multifamily configuration for residential income use.
The property is located at 416 N 15th Street in Las Vegas, providing proximity to downtown. Its four-unit layout and consistent floor plans establish a straightforward multifamily configuration for residential income use.
Key Highlights
- Four residential units in one quadplex
- Each apartment includes one bedroom and one bathroom
- Three units are located downstairs; one is on the second floor
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
$24,493
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
4.11%
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%
$489,860
$489.9K
Cap Rate 7%
$349,900
$349.9K
Cap Rate 9%
$272,144
$272.1K
Market Conditions
NOI Build-Up for 2,128 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
$37.0K $17.40/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$35.0K $16.44/SF
− OpEx
−$10.5K −$4.93/SF
NOI
$24.5K $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%
$489,860
Cap Rate 7%
$349,900
Cap Rate 9%
$272,144
Alternative Uses
Best Use
Multifamily LT 5
$349.9K
$306.2K – $408.2K
NOI $24,493 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$323.4K
$282.9K – $377.3K
NOI $22,635 @ 7.0% cap · market cap 3.80%
Theoretical Best
Specialty Retail
$735.3K
$643.4K – $857.9K
NOI $51,472 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,370
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?
Quadplex - Multi-level residential income property positioned near downtown with a consistent one-bedroom, one-bathroom unit configuration.
Where is this quadplex located?
The property is located at 416 N 15th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $595,999.
What are key features of this property?
This property features: Four residential units in one quadplex; Each apartment includes one bedroom and one bathroom; Three units are located downstairs; one is on the second floor
