4-Unit Apartment
For Sale
$579,900
529 North Cir, Las Vegas, NV 89119
Fully leased apartment property near Las Vegas entertainment, hospitality, and shopping destinations.
Property Size2,924 SF
Days on Market142
Property Features for 529 North Cir
General Information
Standard status
Active
Size
2,924 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,763
Building Details
Building Size
2,924 SF
Year Built
1963
Stories
2
Units
4
Listing Agency:
ABI Multifamily LLC
(702) 780-1382
Listed By:
Nora E. Aguirre · License #B.144976
(702) 780-1382
Source:
Elliman
Added: Apr 12
Changed: Aug 30
Last Checked: Aug 30 at 8:55PM
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 ABI Multifamily LLC
Investment Insights
Based on property information with market context.
This four-unit apartment property contains four two-bedroom, one-bath residences. The building is fully leased, and all tenants are current, providing an established operating profile for a multifamily buyer.
Located at 529 North Cir in Las Vegas, the property sits just off the Las Vegas Strip and behind the Sphere. UNLV, Harry Reid International Airport, and the Las Vegas Convention Center are each within blocks, while surrounding entertainment, hospitality, and shopping destinations add to the immediate urban setting.
Located at 529 North Cir in Las Vegas, the property sits just off the Las Vegas Strip and behind the Sphere. UNLV, Harry Reid International Airport, and the Las Vegas Convention Center are each within blocks, while surrounding entertainment, hospitality, and shopping destinations add to the immediate urban setting.
Key Highlights
- Four two‑bedroom, one‑bath apartment units
- Fully leased with all tenants current
- 529 North Cir, Las Vegas, NV 89119
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
$33,656
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
5.80%
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%
$673,120
$673.1K
Cap Rate 7%
$480,800
$480.8K
Cap Rate 9%
$373,956
$374.0K
Market Conditions
NOI Build-Up for 2,924 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
$50.9K $17.40/SF
− Vacancy
−$2.8K −$0.96/SF
EGI
$48.1K $16.44/SF
− OpEx
−$14.4K −$4.93/SF
NOI
$33.7K $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%
$673,120
Cap Rate 7%
$480,800
Cap Rate 9%
$373,956
Alternative Uses
Best Use
Multifamily LT 5
$480.8K
$420.7K – $560.9K
NOI $33,656 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$444.3K
$388.8K – $518.4K
NOI $31,101 @ 7.0% cap · market cap 5.36%
Theoretical Best
Specialty Retail
$1.01M
$884.1K – $1.18M
NOI $70,726 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,308
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
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?
Quadplex - Fully leased apartment property near Las Vegas entertainment, hospitality, and shopping destinations.
Where is this quadplex located?
The property is located at 529 North Cir Las Vegas, NV.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath apartment units; Fully leased with all tenants current; 529 North Cir, Las Vegas, NV 89119
