Renovated Fourplex Income
4851 E Craig Road Las Vegas, NV 89115
New
For Sale
$815,000
MULTI_FAMILY - Other - Las Vegas, NV
Property Size3,944 SF
Lot Size0.22 Acres
Price / SF$206.64
Days on Market6
Property Features for 4851 E Craig Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Dryer, Refrigerator, Washer
Standard status
Active
APN
140-05-711-010
Size
3,944 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
1803
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Number of units
4
Flooring type
Tile, Vinyl
Building materials
Wood Frame
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Keller Williams MarketPlace
(702) 877-2500
Listed By:
Blake Leavitt · License #BS.0145665
(702) 809-8387
Added: Jul 24
Changed: Jul 28
Last Checked: Jul 29 at 9:06AM
MLS# 2803075
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.
4851 E Craig Rd is a renovated, 100% occupied fourplex built in 1984. The property includes four large 2-bedroom, 2-bath units, each with a full appliance package and a washer and dryer. Exterior and interior renovations have been completed, and the building is described as very well maintained. Residents also have access to four outdoor storage rooms, and the site offers ample parking for day-to-day convenience.
The property is located at 4851 E Craig Rd in Las Vegas, Nevada 89115 (Clark County).
The layout is straightforward for rental use: four separate 2-bedroom/2-bath units within one fourplex structure, supported by in-unit laundry, outdoor storage, and parking on-site.
The property is located at 4851 E Craig Rd in Las Vegas, Nevada 89115 (Clark County).
The layout is straightforward for rental use: four separate 2-bedroom/2-bath units within one fourplex structure, supported by in-unit laundry, outdoor storage, and parking on-site.
Key Highlights
- 100% occupied fourplex built in 1984 in Las Vegas
- Four large 2‑bed/2‑bath units with full appliance packages including washer and dryer in each unit
- Ample parking plus four outdoor storage rooms
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.9k | $16.20 |
| − Vacancy | −$3.3k | −$0.84 |
| EGI | $60.6k | $15.36 |
| − OpEx | −$18.2k | −$4.61 |
| NOI | $42.4k | $10.75 |
3,944 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 30.00%
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Renovated, 100% occupied fourplex with four 2-bed/2-bath units, in-unit washers and dryers, and ample parking.
Where is this quadplex located?
The property is located at 4851 E 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 built in 1984 in Las Vegas; Four large 2‑bed/2‑bath units with full appliance packages including washer and dryer in each unit; Ample parking plus four outdoor storage rooms
