Renovated Fourplex with In-Unit
For Sale
$815,000
4781 East Craig Road, Las Vegas, NV 89115
Four large two-bedroom, two-bath units, each with a washer and dryer, in a renovated 1984-built fourplex.
Property Size3,944 SF
Days on Market36
Property Features for 4781 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
$1,803
Amenities
washer and dryer in each unit
Building Details
Building Size
3,944 SF
Year Built
1984
Listing Agency:
Keller Williams MarketPlace
(702) 809-8387
Listed By:
Blake Leavitt · License #BS.0145665
(702) 809-8387
Source:
Virtuelre
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 26 at 1:34PM
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.
4781 E Craig Rd is a 100% occupied fourplex built in 1984. The property includes four large two-bedroom, two-bath units, and each unit features a washer and dryer. The exterior and interior have been renovated, and the building is described as very well maintained.
Bike Score is 43, Walk Score is 61, and Transit Score is 45, indicating somewhat walkable and somewhat transit-oriented access. The property is offered for sale.
This fourplex configuration provides four separate, similarly sized residential units, each equipped with in-unit laundry amenities.
Bike Score is 43, Walk Score is 61, and Transit Score is 45, indicating somewhat walkable and somewhat transit-oriented access. The property is offered for sale.
This fourplex configuration provides four separate, similarly sized residential units, each equipped with in-unit laundry amenities.
Key Highlights
- 1984‑built fourplex with four 2‑bedroom, 2‑bath units
- 100% occupied property with four large units
- Each unit includes a 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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four large two-bedroom, two-bath units, each with a washer and dryer, in a renovated 1984-built fourplex.
Where is this quadplex 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 $815,000.
What are key features of this property?
This property features: 1984‑built fourplex with four 2‑bedroom, 2‑bath units; 100% occupied property with four large units; Each unit includes a washer and dryer
