4-Unit Multifamily
For Sale
$645,000
509 McKellar Circle, Las Vegas, NV 89119
All four residences are leased, with UNLV and the Las Vegas Strip nearby.
Property Size2,520 SF
Price / SF$255.95
Days on Market168
Property Features for 509 McKellar Circle
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$1,662
Building Details
Building Size
2,520 SF
Year Built
1963
Listing Agency:
Key Realty
Listed By:
Ayele Endalkachew · License #S.0076014
(702) 325-8943
Source:
Capdevilarealty
Added: May 14
Changed: Oct 28
Last Checked: Oct 26 at 2:44PM
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 Key Realty
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 2,520 square feet and dates to 1963. The roof was installed in 2019, and all four units are leased.
The property is about one mile from the Las Vegas Strip. UNLV, schools, shopping, freeways, entertainment, and employment destinations are also identified nearby.
The property is about one mile from the Las Vegas Strip. UNLV, schools, shopping, freeways, entertainment, and employment destinations are also identified nearby.
Key Highlights
- Four units; each is leased
- 2,520 square feet
- Roof installed in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,005
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,100
$580.1K
Cap Rate 7%
$414,357
$414.4K
Cap Rate 9%
$322,278
$322.3K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$43.8K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$41.4K $16.44/SF
− OpEx
−$12.4K −$4.93/SF
NOI
$29.0K $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%
$580,100
Cap Rate 7%
$414,357
Cap Rate 9%
$322,278
Alternative Uses
Best Use
Multifamily LT 5
$414.4K
$362.6K – $483.4K
NOI $29,005 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$382.9K
$335.1K – $446.7K
NOI $26,804 @ 7.0% cap · market cap 4.16%
Theoretical Best
Specialty Retail
$870.8K
$761.9K – $1.02M
NOI $60,954 @ 7.0% cap · market cap 9.45%
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
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,500
Businesses Nearby
Explore this area
Business Placement
Demographics for 89119, NV
48,895
Population
24,756
Households
2
Avg Household Size
36
Median Age
20%
College-Educated
84%
High-School Grad
12.9 sq mi
ZIP Area
3,790
Density / Sq Mi
$46,472
Median Household Income
$32,590
Median Earnings
$1,184
Median Rent
$301,000
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
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are leased, with UNLV and the Las Vegas Strip nearby.
Where is this quadplex located?
The property is located at 509 McKellar Circle Las Vegas, NV.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Four units; each is leased; 2,520 square feet; Roof installed in 2019
