Fourplex Residential Income
For Sale
$785,000
510 S 10th Street, Las Vegas, NV 89101
MULTI_FAMILY - Other - Las Vegas, NV
Property Size3,264 SF
Lot Size0.19 Acres
Price / SF$240.50
Days on Market67
Property Features for 510 S 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
4
Parking features
Special Needs, Covered, Alley, Assigned
Interior features
Ceiling Fan(s)
Accessibility
Accessible Approach with Ramp
Appliances
Dryer, Dishwasher, Disposal, Oven, Range, Refrigerator, Water Heater, Washer
Subdivision
Wardie Add
Elementary school
,
Directions
I-15 & Charleston Blvd; E on Charleston; S on 10th st; prperty SE corner of 10th St & Bonneville Ave. This property is in the Downtown Las Vegas/ Attorney's Row area near the Clark County, Courthouse and Fremont District.
Standard status
Active
APN
139-34-810-090
Size
3,264 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
1589
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Number of units
1
Flooring type
Tile - Ceramic, Carpet, Vinyl, Tile
Building materials
Block, Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
Realty ONE Group, Inc
(702) 898-1010
Listed By:
Lucelia Constante Lamothe · License #S.0203613
(702) 413-3102
Added: Jun 6
Changed: Aug 2
Last Checked: Aug 11 at 9:06PM
MLS# 2789569
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.
This fourplex residential income property is built with block and stucco construction and features a tile roof. The building totals 3,264 square feet on a 0.19-acre lot and was built in 1953. Interior amenities include ceiling fan(s), and units are equipped with a range of major appliances including a refrigerator, oven/range, dishwasher, disposal, washer and dryer, and a water heater.
The property has public water and public sewer service. Heating is electric with central heating, and cooling is provided by central air. Parking is available with assigned spaces plus alley access, and the property includes an accessible approach with a ramp.
The property has public water and public sewer service. Heating is electric with central heating, and cooling is provided by central air. Parking is available with assigned spaces plus alley access, and the property includes an accessible approach with a ramp.
Key Highlights
- 3,264 SF fourplex on 0.19‑acre lot
- Built in 1953 with block and stucco construction
- Tile roof
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
$37,569
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
4.79%
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%
$751,380
$751.4K
Cap Rate 7%
$536,700
$536.7K
Cap Rate 9%
$417,433
$417.4K
Market Conditions
NOI Build-Up for 3,264 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
$56.8K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$53.7K $16.44/SF
− OpEx
−$16.1K −$4.93/SF
NOI
$37.6K $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 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%
$751,380
Cap Rate 7%
$536,700
Cap Rate 9%
$417,433
Alternative Uses
Best Use
Multifamily LT 5
$536.7K
$469.6K – $626.2K
NOI $37,569 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$496.0K
$434.0K – $578.6K
NOI $34,718 @ 7.0% cap · market cap 4.42%
Theoretical Best
Specialty Retail
$1.13M
$986.9K – $1.32M
NOI $78,949 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,281
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Block and stucco fourplex with central electric heating and central air, served by public water and public sewer.
Where is this quadplex located?
The property is located at 510 S 10th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 3,264 SF fourplex on 0.19‑acre lot; Built in 1953 with block and stucco construction; Tile roof
