Renovated Fourplex
For Sale
$799,999
4851 East Craig Rd, Las Vegas, NV 89115
Well-maintained 1984 fourplex offers four large 2-bedroom, 2-bath units with in-unit washers and dryers.
Property Size3,944 SF
Price / SF$202.84
Days on Market96
Property Features for 4851 East Craig Rd
General Information
Standard status
Active
Size
3,944 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
washer and dryer
Building Details
Year Built
1984
Listing Agency:
Keller Williams MarketPlace
Listed By:
Blake Leavitt · License #BS.0145665
(702) 809-8387
Source:
Findavegashouse
Added: Jul 25
Changed: Oct 26
Last Checked: Oct 26 at 5:42PM
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
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Investment Insights
Based on property information with market context.
4851 E Craig Rd is a 100% occupied fourplex built in 1984. The property has undergone exterior and interior renovations and is described as very well maintained.
The building consists of four large 2-bedroom, 2-bath units, and each unit includes a washer and dryer.
This is a stabilized, income-producing multifamily property with the full unit mix already in place and currently occupied.
The building consists of four large 2-bedroom, 2-bath units, and each unit includes a washer and dryer.
This is a stabilized, income-producing multifamily property with the full unit mix already in place and currently occupied.
Key Highlights
- Built in 1984, 100% occupied fourplex in Las Vegas
- Four large 2‑bedroom, 2‑bath units
- Each unit includes a washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,399
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
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
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 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 5.30%
Second Best
Apartment 5plus
$559.3K
$489.4K – $652.6K
NOI $39,154 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,540 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained 1984 fourplex offers four large 2-bedroom, 2-bath units with in-unit washers and dryers.
Where is this quadplex located?
The property is located at 4851 East Craig Rd Las Vegas, NV.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Built in 1984, 100% occupied fourplex in Las Vegas; Four large 2‑bedroom, 2‑bath units; Each unit includes a washer and dryer
