Fully Occupied Fourplex in Gated
For Sale
$565,000
4684 Krissylouise Way, Las Vegas, NV 89121
MULTI_FAMILY - Other - Las Vegas, NV
Property Size3,112 SF
Lot Size0.04 Acres
Price / SF$181.56
Days on Market50
Property Features for 4684 Krissylouise Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Window Treatments
Appliances
Dryer, Dishwasher, Disposal, Oven, Range, Refrigerator, Washer
Subdivision
Village At Karen
Elementary school
,
Directions
From Vegas Valley head east to Mountain Vista make left community gated on right.
Standard status
Active
APN
161-08-510-007
Size
3,112 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2489
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, 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
Carpet
Building materials
Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
Realty ONE Group, Inc
(702) 898-1010
Listed By:
Ginger Gorman · License #S.0190885
(702) 708-4257
Added: Jun 24
Changed: Aug 2
Last Checked: Aug 12 at 2:06AM
MLS# 2794991
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 fully occupied fourplex offers steady residential income within a gated community. The property was built in 1984 and includes four two-bedroom, one-bath units. Interior features include window treatments, and each unit has appliances such as a washer/dryer, dishwasher, disposal, oven, range, and refrigerator. The home is finished with stucco construction, carpet flooring, central air conditioning, and heating with natural gas and electric (central). The roof is a tile roof.
The property sits at 4684 Krissylouise Way in Las Vegas, on a 0.04-acre lot with 3,112 square feet of total building area. Water service is public, and sewer service is public sewer. An HOA is in place to cover trash, sewage, roof, and building exterior, which can simplify certain ongoing property responsibilities for an owner.
For perspective, the combination of four units, in-unit laundry, and HOA coverage for several major external services may appeal to buyers looking for a straightforward residential rental setup.
The property sits at 4684 Krissylouise Way in Las Vegas, on a 0.04-acre lot with 3,112 square feet of total building area. Water service is public, and sewer service is public sewer. An HOA is in place to cover trash, sewage, roof, and building exterior, which can simplify certain ongoing property responsibilities for an owner.
For perspective, the combination of four units, in-unit laundry, and HOA coverage for several major external services may appeal to buyers looking for a straightforward residential rental setup.
Key Highlights
- Fully occupied fourplex in a gated community
- Built in 1984 on a 0.04‑acre lot with 3,112 SF total building area
- Four two‑bedroom, one‑bath units
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
$40,889
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
7.24%
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%
$817,780
$817.8K
Cap Rate 7%
$584,129
$584.1K
Cap Rate 9%
$454,322
$454.3K
Market Conditions
NOI Build-Up for 3,112 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
$61.6K $19.80/SF
− Vacancy
−$3.2K −$1.03/SF
EGI
$58.4K $18.77/SF
− OpEx
−$17.5K −$5.63/SF
NOI
$40.9K $13.14/SF
Area
ZIP 89121
Vacancy
5.20%
Lease Rate
$19.80 /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%
$817,780
Cap Rate 7%
$584,129
Cap Rate 9%
$454,322
Alternative Uses
Best Use
Multifamily LT 5
$584.1K
$511.1K – $681.5K
NOI $40,889 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$524.0K
$458.5K – $611.4K
NOI $36,683 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$807.6K
$706.6K – $942.2K
NOI $56,531 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
945
Businesses Nearby
Explore this area
Business Placement
Demographics for 89121, NV
68,692
Population
29,012
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
78%
High-School Grad
9.2 sq mi
ZIP Area
7,467
Density / Sq Mi
$54,667
Median Household Income
$32,776
Median Earnings
$1,306
Median Rent
$288,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied fourplex in a gated community with in-unit appliances and HOA coverage for key exterior services.
Where is this quadplex located?
The property is located at 4684 Krissylouise Way Las Vegas, NV.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Fully occupied fourplex in a gated community; Built in 1984 on a 0.04‑acre lot with 3,112 SF total building area; Four two‑bedroom, one‑bath units
