4-Unit Townhome-Style
For Sale
$574,999
5228 Garden Lane, Las Vegas, NV 89119
Private garages and in-unit laundry complement a shared pool, BBQ areas and clubhouse.
Property Size3,648 SF
Days on Market13
Property Features for 5228 Garden Lane
General Information
Standard status
Active
Size
3,648 SF
Total Parking Spaces
4
Property subtype
Multi Family
Occupancy
100%
Units
Multifamily Units
4
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$1,889
Amenities
pool
BBQ areas
clubhouse
Building Details
Building Size
3,648 SF
Year Built
1977
Listing Agency:
First Full Service Realty
Listed By:
Ruchelle R. Stuart · License #B.0053430
(702) 373-9939
Source:
Usarealty
Added: Oct 16
Changed: Oct 28
Last Checked: Oct 27 at 12:07AM
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 First Full Service Realty
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Investment Insights
Based on property information with market context.
Built in 1977, this four-unit property is configured as two-story, townhome-style residences with a mix of 1-, 2- and 3-bedroom layouts. Each unit has a private 1-car garage and an in-unit laundry area. The property is fully occupied and includes a pool, BBQ areas and a clubhouse for resident use.
Recent property updates include a newer roof, newer A/C units and updated appliances; Unit D has also been renovated. The property is in Las Vegas, between Harry Reid International Airport and UNLV, with the Las Vegas Convention Center, shopping, dining, entertainment and major transportation routes also identified in the surrounding area.
Recent property updates include a newer roof, newer A/C units and updated appliances; Unit D has also been renovated. The property is in Las Vegas, between Harry Reid International Airport and UNLV, with the Las Vegas Convention Center, shopping, dining, entertainment and major transportation routes also identified in the surrounding area.
Key Highlights
- Four fully occupied, two‑story townhome‑style units
- Floor plans include 1-, 2- and 3‑bedroom options
- Each residence has a private 1‑car garage and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,989
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$839,780
$839.8K
Cap Rate 7%
$599,843
$599.8K
Cap Rate 9%
$466,544
$466.5K
Market Conditions
NOI Build-Up for 3,648 SF
Gross rent
$63.5K $17.40/SF
− Vacancy
−$3.5K −$0.96/SF
EGI
$60.0K $16.44/SF
− OpEx
−$18.0K −$4.93/SF
NOI
$42.0K $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%
$839,780
Cap Rate 7%
$599,843
Cap Rate 9%
$466,544
Alternative Uses
Best Use
Multifamily LT 5
$599.8K
$524.9K – $699.8K
NOI $41,989 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$554.3K
$485.0K – $646.7K
NOI $38,802 @ 7.0% cap · market cap 6.75%
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,238 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,162
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Private garages and in-unit laundry complement a shared pool, BBQ areas and clubhouse.
Where is this quadplex located?
The property is located at 5228 Garden Lane Las Vegas, NV.
What is the asking price?
The asking price for this property is $574,999.
What are key features of this property?
This property features: Four fully occupied, two‑story townhome‑style units; Floor plans include 1-, 2- and 3‑bedroom options; Each residence has a private 1‑car garage and in‑unit laundry
