3-Unit Residential
For Sale
$469,900
507 North 15th Street, Las Vegas, NV 89101
Three occupied apartments combine two-bedroom and one-bedroom layouts in a single residential property.
Property Size2,210 SF
Days on Market9
Property Features for 507 North 15th Street
General Information
Standard status
Active
Size
2,210 SF
Property subtype
Triplex
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$856
Building Details
Building Size
2,210 SF
Year Built
1963
Listing Agency:
Epique Realty
Listed By:
James Alamillo · License #S.0058807
(702) 491-7942
Source:
Vicerealtygroup
Added: Sep 30
Changed: Oct 5
Last Checked: Oct 7 at 4:33PM
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 Epique Realty
Investment Insights
Based on property information with market context.
Built in 1963, this residential triplex contains three apartments: two with two bedrooms and one bathroom each, and a third with one bedroom and one bathroom. All three units are currently occupied by long-term tenants.
The property is in Las Vegas, near freeways, shopping, schools, public transportation, and everyday services.
The property is in Las Vegas, near freeways, shopping, schools, public transportation, and everyday services.
Key Highlights
- Three‑unit residential property built in 1963
- Two apartments with 2 bedrooms and 1 bathroom each
- One apartment with 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,437
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$508,740
$508.7K
Cap Rate 7%
$363,386
$363.4K
Cap Rate 9%
$282,633
$282.6K
Market Conditions
NOI Build-Up for 2,210 SF
Gross rent
$38.5K $17.40/SF
− Vacancy
−$2.1K −$0.96/SF
EGI
$36.3K $16.44/SF
− OpEx
−$10.9K −$4.93/SF
NOI
$25.4K $11.51/SF
Area
Las Vegas, NV
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$508,740
Cap Rate 7%
$363,386
Cap Rate 9%
$282,633
Alternative Uses
Best Use
Multifamily LT 5
$363.4K
$318.0K – $424.0K
NOI $25,437 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$335.8K
$293.8K – $391.8K
NOI $23,507 @ 7.0% cap · market cap 5.00%
Theoretical Best
Specialty Retail
$763.6K
$668.2K – $890.9K
NOI $53,455 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Triplex - Three occupied apartments combine two-bedroom and one-bedroom layouts in a single residential property.
Where is this triplex located?
The property is located at 507 North 15th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Three‑unit residential property built in 1963; Two apartments with 2 bedrooms and 1 bathroom each; One apartment with 1 bedroom and 1 bathroom
