Occupied Four-Unit
New
For Sale
$690,000
4284 Vornsand Drive, Las Vegas, NV 89115
MULTI_FAMILY - Other - Las Vegas, NV
Property Size3,604 SF
Lot Size0.20 Acres
Price / SF$191.45
Days on Market2
Property Features for 4284 Vornsand Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Refrigerator
Subdivision
Puebla Estate
Elementary school
,
Directions
From Craig Rd & Lamb Blvd - East on Craig Rd - Right on Puebla St - Left on Thunderbolt Ave - Right on Vornsand Dr - Property on the Left.
Standard status
Active
APN
140-05-710-016
Size
3,604 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
1650
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
Stucco
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Executive Realty Services
(702) 278-8871
Listed By:
Justin Bezanski · License #S.0184531
(702) 885-3013
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 9:06AM
MLS# 2808445
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 four-unit residential income property contains 3,604 square feet on a 0.2-acre lot and was built in 1984. The unit mix includes two 3-bedroom residences and two 1-bedroom residences, with all four units currently occupied. Interior features include tile flooring, ceiling fans, and window treatments, while refrigerators are provided. Central heating and central air conditioning serve the property, which has stucco construction and a shingle and composition roof.
The property is located in Las Vegas, with access to schools, shopping, restaurants, freeway connections, retail, transportation, and other everyday services. Public water and public sewer serve the site. The property has no HOA.
The property is located in Las Vegas, with access to schools, shopping, restaurants, freeway connections, retail, transportation, and other everyday services. Public water and public sewer serve the site. The property has no HOA.
Key Highlights
- Four‑unit property with 3,604 square feet on a 0.2‑acre lot
- 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
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
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 - Fully occupied property with a mixed unit configuration, central cooling, tile flooring, and public water and sewer service.
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‑unit property with 3,604 square feet on a 0.2‑acre lot; Unit mix includes two 3‑bedroom units and two 1‑bedroom units; All four units are currently occupied
