Four-Unit
For Sale
$690,000
4284 Vornsand Drive, Las Vegas, NV 89115
All residences are occupied, and the property has no HOA.
Property Size3,604 SF
Days on Market17
Property Features for 4284 Vornsand Drive
General Information
Standard status
Active
Size
3,604 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,650
Building Details
Building Size
3,604 SF
Year Built
1984
Listing Agency:
Executive Realty Services
(702) 885-3013
Listed By:
Justin Bezanski · License #S.0184531
(702) 885-3013
Source:
Virtuelre
Added: Aug 12
Changed: Aug 26
Last Checked: Aug 26 at 2:58PM
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 Executive Realty Services
Investment Insights
Based on property information with market context.
Built in 1984, this quadplex contains four separate residences with a balanced bedroom mix. Two units offer 3 bedrooms each, while the remaining two provide 1 bedroom each. All four units are currently occupied, establishing an existing resident base within the property’s four-unit configuration. No HOA applies to the property.
Located at 4284 Vornsand Drive in Las Vegas, Nevada, the property provides access to schools, shopping, restaurants, freeway connections, and other everyday services. Its separate-unit layout and varied bedroom count support a range of residential occupancy needs while maintaining a straightforward multifamily configuration.
Located at 4284 Vornsand Drive in Las Vegas, Nevada, the property provides access to schools, shopping, restaurants, freeway connections, and other everyday services. Its separate-unit layout and varied bedroom count support a range of residential occupancy needs while maintaining a straightforward multifamily configuration.
Key Highlights
- Four separate residential units
- Unit mix includes two 3‑bedroom units and two 1‑bedroom units
- All four units are currently occupied
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
$38,744
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
5.62%
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%
$774,880
$774.9K
Cap Rate 7%
$553,486
$553.5K
Cap Rate 9%
$430,489
$430.5K
Market Conditions
NOI Build-Up for 3,604 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
$58.4K $16.20/SF
− Vacancy
−$3.0K −$0.84/SF
EGI
$55.3K $15.36/SF
− OpEx
−$16.6K −$4.61/SF
NOI
$38.7K $10.75/SF
Area
ZIP 89115
Vacancy
5.20%
Lease Rate
$16.20 /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%
$774,880
Cap Rate 7%
$553,486
Cap Rate 9%
$430,489
Alternative Uses
Best Use
Multifamily LT 5
$553.5K
$484.3K – $645.7K
NOI $38,744 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$511.1K
$447.2K – $596.3K
NOI $35,779 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$1.08M
$942.8K – $1.26M
NOI $75,425 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 89115, NV
67,043
Population
21,670
Households
3.1
Avg Household Size
29
Median Age
9%
College-Educated
70%
High-School Grad
24.9 sq mi
ZIP Area
2,692
Density / Sq Mi
$49,648
Median Household Income
$32,198
Median Earnings
$1,294
Median Rent
$258,900
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 - All residences are occupied, and the property has no HOA.
Where is this quadplex located?
The property is located at 4284 Vornsand Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Four separate residential units; Unit mix includes two 3‑bedroom units and two 1‑bedroom units; All four units are currently occupied
