Renovated Fourplex Income
For Sale
$815,000
4771 East Craig Road, Las Vegas, NV 89115
Renovated 1984-built fourplex with four large 2-bed, 2-bath units, each including an in-unit washer and dryer.
Property Size3,944 SF
Days on Market36
Property Features for 4771 East Craig Road
General Information
Standard status
Active
Size
3,944 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,806
Amenities
washer and dryer in each unit
Building Details
Building Size
3,944 SF
Year Built
1984
Tenancy
Multi
Listing Agency:
Keller Williams MarketPlace
(702) 809-8387
Listed By:
Blake Leavitt · License #BS.0145665
(702) 809-8387
Source:
Vicerealtygroup
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 26 at 2:21PM
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 Keller Williams MarketPlace
Investment Insights
Based on property information with market context.
Built in 1984, 4771 E Craig Rd is a fourplex that is 100% occupied and very well maintained. The property includes four large 2-bedroom, 2-bath units, and each unit has its own washer and dryer. Exterior and interior renovations have been completed.
The asset is located at 4771 E Craig Rd in Las Vegas, NV 89115. While walk, bike, and transit scores are available, specific transportation features and nearby amenities are not detailed in the provided information.
The property’s current configuration is straightforward for investors seeking a stabilized multifamily asset: four separate residential units within a single building, supported by in-unit laundry for each unit.
The asset is located at 4771 E Craig Rd in Las Vegas, NV 89115. While walk, bike, and transit scores are available, specific transportation features and nearby amenities are not detailed in the provided information.
The property’s current configuration is straightforward for investors seeking a stabilized multifamily asset: four separate residential units within a single building, supported by in-unit laundry for each unit.
Key Highlights
- 100% occupied fourplex in Las Vegas built in 1984
- Four large 2‑bed/2‑bath units
- Each unit includes an in‑unit washer and dryer
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
$42,399
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
5.20%
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%
$847,980
$848.0K
Cap Rate 7%
$605,700
$605.7K
Cap Rate 9%
$471,100
$471.1K
Market Conditions
NOI Build-Up for 3,944 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
$63.9K $16.20/SF
− Vacancy
−$3.3K −$0.84/SF
EGI
$60.6K $15.36/SF
− OpEx
−$18.2K −$4.61/SF
NOI
$42.4K $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%
$847,980
Cap Rate 7%
$605,700
Cap Rate 9%
$471,100
Alternative Uses
Best Use
Multifamily LT 5
$605.7K
$530.0K – $706.7K
NOI $42,399 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$559.3K
$489.4K – $652.6K
NOI $39,154 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,540 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
516
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 - Renovated 1984-built fourplex with four large 2-bed, 2-bath units, each including an in-unit washer and dryer.
Where is this quadplex located?
The property is located at 4771 East Craig Road Las Vegas, NV.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: 100% occupied fourplex in Las Vegas built in 1984; Four large 2‑bed/2‑bath units; Each unit includes an in‑unit washer and dryer
