Las Vegas Multifamily
For Sale
Contact for pricing
4781 East Craig Road, Las Vegas, NV 89115
100% occupied portfolio of 20 units in Las Vegas.
Property Size19,907 SF
Price / SF$205.20
Days on Market90
Property Features for 4781 East Craig Road
General Information
Standard status
Active
Size
19,907 SF
Class
B
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$237,293
Building Details
Year Built
1984
Buildings
8
Units
20
Tenancy
Multi
Listing Agency:
KW Commercial
Listed By:
Blake Leavitt · License #BS.0145665.LLC
Source:
Crexi
Added: May 15
Changed: Aug 7
Last Checked: Aug 11 at 2:28PM
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 KW Commercial
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a 100% occupied portfolio of multifamily properties in Las Vegas. The portfolio comprises 20 units, including 4 fourplexes and 4 condos, all situated in proximity to each other. The fourplexes, located at 4771-4781-4791-4851 E Craig Rd, were constructed in 1984 and feature 16 units, each with 2 bedrooms and 2 bathrooms, spanning 986 square feet. The condos are located at 4300 N Lamont St #249-#270-#291 and 4437 Dover Straight St #301. The three condos at 4300 N Lamont St, built in 1984, offer 2 bedrooms and 2 bathrooms within 864 square feet. The condo at 4437 Dover Straight St, built in 2010, provides 3 bedrooms and 2 bathrooms across 1,539 square feet. Each unit is equipped with a full appliance package, including a washer and dryer. All units have undergone both exterior and interior renovations and are well-maintained. The total property size is 19,907 square feet.
Key Highlights
- 100% Occupied Portfolio: Generate immediate income.
- Attractive Financing Available: Take advantage of low rates and flexible terms.
- Portfolio of 20 Units: Simplified management with a mix of fourplexes and condos.
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
$197,626
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
4.84%
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%
$3,952,520
$4.0M
Cap Rate 7%
$2,823,229
$2.8M
Cap Rate 9%
$2,195,844
$2.2M
Market Conditions
NOI Build-Up for 19,907 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
$377.4K $18.96/SF
− Vacancy
−$18.1K −$0.91/SF
EGI
$359.3K $18.05/SF
− OpEx
−$161.7K −$8.12/SF
NOI
$197.6K $9.93/SF
Area
ZIP 89115
Vacancy
4.80%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
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%
$3,952,520
Cap Rate 7%
$2,823,229
Cap Rate 9%
$2,195,844
Alternative Uses
Best Use
Apartment 5plus
$2.82M
$2.47M – $3.29M
NOI $197,626 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.95M
$5.21M – $6.94M
NOI $416,614 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
509
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?
Apartment building - 100% occupied portfolio of 20 units in Las Vegas.
Where is this apartment building located?
The property is located at 4781 East Craig Road Las Vegas, NV.
What is the asking price?
The asking price for this property is $4,085,000.
What are key features of this property?
This property features: 100% Occupied Portfolio: Generate immediate income.; Attractive Financing Available: Take advantage of low rates and flexible terms.; Portfolio of 20 Units: Simplified management with a mix of fourplexes and condos.
