Fourplex Near Downtown Las
For Sale
$589,900
416 North 15th St, Las Vegas, NV 89101
Four-unit property with one bedroom and one bathroom per unit.
Property Size2,128 SF
Price / SF$277.21
Days on Market155
Property Features for 416 North 15th St
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Multi-Family
Building Details
Year Built
1966
Listing Agency:
United Realty Group
Listed By:
Edgar Renderos
(702) 773-6244
Source:
Tmgluxury
Added: May 20
Changed: Oct 8
Last Checked: Oct 7 at 2:52PM
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
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Investment Insights
Based on property information with market context.
This fourplex presents an opportunity to own a multi-unit property near downtown. The property features four units, each containing one bedroom and one bathroom. Three apartments are located on the ground floor, with the remaining unit situated on the second floor. The location has a bike score of 65, indicating it is bikeable, and a walk score of 70, suggesting it is somewhat walkable. The transit score is 47, indicating some transit options are available.
Key Highlights
- Fourplex property - great investment opportunity.
- Four units, each with one bedroom and one bathroom.
- Close proximity to downtown.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,493
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
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
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 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 4.15%
Second Best
Apartment 5plus
$323.4K
$282.9K – $377.3K
NOI $22,635 @ 7.0% cap · market cap 3.84%
Theoretical Best
Specialty Retail
$735.3K
$643.4K – $857.9K
NOI $51,472 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,599
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with one bedroom and one bathroom per unit.
Where is this quadplex located?
The property is located at 416 North 15th St Las Vegas, NV.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Fourplex property - **great investment opportunity.**; Four units, each with one bedroom and one bathroom.; Close proximity to downtown.
