56-Unit Apartment Community with
For Sale
$8,650,000
522 N Lamb Blvd, Las Vegas, NV 89110
East Las Vegas community with varied floor plans, resident amenities, and covered parking.
Property Size47,440 SF
Days on Market10
Property Features for 522 N Lamb Blvd
General Information
Standard status
Active
Size
47,440 SF
Property subtype
Multifamily
Additional Details
Cap Rate
6.16%
Multifamily Units
56
Amenities
swimming pool
spa
fitness center
barbecue and picnic areas
on-site laundry
covered parking
private patios or balconies
Balanced Mix: A diverse mix of one-, two-, and three-bedroom floor plans supports demand across multiple household types.
Lifestyle Amenities: A pool, spa, fitness center, clubhouse, and outdoor gathering areas provide residents with a comprehensive amenity package.
Evolving Corridor: Saratoga Palms is positioned near the planned Desert Pines Redevelopment within an evolving East Las Vegas corridor.
Strategic Access: Prominent frontage along North Lamb Boulevard near Bonanza Road provides convenient access to surrounding employment, retail, and daily services.
Building Details
Building Size
47,440 SF
Units
56
Listing Agency:
Las Vegas Office
(702) 215-7118
Listed By:
Drew Holden · License #License(s): CA: 01962800, NV: S.0189703
(702) 215-7118
Source:
Marcusmillichap
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 31 at 1:08PM
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 Las Vegas Office
Investment Insights
Based on property information with market context.
This 56-unit apartment community at 522 N Lamb Blvd in Las Vegas offers a mix of one-, two-, and three-bedroom residences. Property amenities include a swimming pool, spa, fitness center, barbecue and picnic areas, on-site laundry, and covered parking. Individual units include granite-style countertops, modern flooring, walk-in closets, updated fixtures, and private patios or balconies.
The property is located in East Las Vegas with access to employment centers, retail, services, and transportation corridors across the Las Vegas Valley. It is also near the planned Desert Pines Redevelopment, which is intended to add housing, parks, retail, community spaces, and neighborhood-serving amenities.
The range of floor plans and combination of community and in-unit features support a varied residential offering within an established multifamily setting.
The property is located in East Las Vegas with access to employment centers, retail, services, and transportation corridors across the Las Vegas Valley. It is also near the planned Desert Pines Redevelopment, which is intended to add housing, parks, retail, community spaces, and neighborhood-serving amenities.
The range of floor plans and combination of community and in-unit features support a varied residential offering within an established multifamily setting.
Key Highlights
- 56‑unit apartment community at 522 N Lamb Blvd, Las Vegas, NV 89110
- Balanced one-, two-, and three‑bedroom unit mix
- Swimming pool, spa, fitness center, and barbecue and picnic areas
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
$494,923
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
5.72%
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%
$9,898,460
$9.9M
Cap Rate 7%
$7,070,329
$7.1M
Cap Rate 9%
$5,499,144
$5.5M
Market Conditions
NOI Build-Up for 47,440 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
$939.3K $19.80/SF
− Vacancy
−$39.5K −$0.83/SF
EGI
$899.9K $18.97/SF
− OpEx
−$404.9K −$8.54/SF
NOI
$494.9K $10.43/SF
Area
ZIP 89110
Vacancy
4.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$9,898,460
Cap Rate 7%
$7,070,329
Cap Rate 9%
$5,499,144
Alternative Uses
Best Use
Apartment 5plus
$7.07M
$6.19M – $8.25M
NOI $494,923 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.60M
$13.65M – $18.20M
NOI $1,092,107 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
56
Residential units
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Explore this area
Business Placement
Demographics for 89110, NV
73,954
Population
23,701
Households
3.1
Avg Household Size
32
Median Age
10%
College-Educated
68%
High-School Grad
9.6 sq mi
ZIP Area
7,704
Density / Sq Mi
$54,858
Median Household Income
$34,509
Median Earnings
$1,292
Median Rent
$304,300
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?
Apartment building - East Las Vegas community with varied floor plans, resident amenities, and covered parking.
Where is this apartment building located?
The property is located at 522 N Lamb Blvd Las Vegas, NV.
What is the asking price?
The asking price for this property is $8,650,000.
What are key features of this property?
This property features: 56‑unit apartment community at 522 N Lamb Blvd, Las Vegas, NV 89110; Balanced one-, two-, and three‑bedroom unit mix; Swimming pool, spa, fitness center, and barbecue and picnic areas
