Two-Unit
For Sale
$375,000
5351 East Lake Mead Boulevard, Las Vegas, NV 89156
A substantial yard complements the recently replaced roof and two new air-conditioning units.
Property Size1,184 SF
Days on Market13
Property Features for 5351 East Lake Mead Boulevard
General Information
Standard status
Active
Size
1,184 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$1,001
Building Details
Building Size
1,184 SF
Year Built
1955
Tenancy
Multi
Listing Agency:
Realty of America LLC
Listed By:
Ricardo Sanchez · License #S.0174109
(702) 808-1319
Source:
Vicerealtygroup
Added: Oct 1
Changed: Oct 12
Last Checked: Oct 13 at 2:55AM
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 Realty of America LLC
Investment Insights
Based on property information with market context.
This 1,184-square-foot duplex, built in 1955, contains two residences: one with two bedrooms and one bathroom, and another with one bedroom and one bathroom. The property also features a large yard, a roof replaced one year ago, and two new air-conditioning units.
The duplex is located at 5351 E Lake Mead Blvd in Las Vegas, Nevada, on a parcel described as nearly half an acre.
The duplex is located at 5351 E Lake Mead Blvd in Las Vegas, Nevada, on a parcel described as nearly half an acre.
Key Highlights
- Two residences: one 2‑bedroom/1‑bathroom unit and one 1‑bedroom/1‑bathroom unit
- 1,184 square feet; built in 1955
- Parcel spans nearly half an acre
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,628
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,560
$272.6K
Cap Rate 7%
$194,686
$194.7K
Cap Rate 9%
$151,422
$151.4K
Market Conditions
NOI Build-Up for 1,184 SF
Gross rent
$20.6K $17.40/SF
− Vacancy
−$1.1K −$0.96/SF
EGI
$19.5K $16.44/SF
− OpEx
−$5.8K −$4.93/SF
NOI
$13.6K $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 Rate 5%
$272,560
Cap Rate 7%
$194,686
Cap Rate 9%
$151,422
Alternative Uses
Best Use
Multifamily LT 5
$194.7K
$170.4K – $227.1K
NOI $13,628 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$179.9K
$157.4K – $209.9K
NOI $12,594 @ 7.0% cap · market cap 3.36%
Theoretical Best
Specialty Retail
$409.1K
$358.0K – $477.3K
NOI $28,639 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 89156, NV
30,067
Population
10,413
Households
2.9
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
44.7 sq mi
ZIP Area
673
Density / Sq Mi
$69,783
Median Household Income
$36,342
Median Earnings
$1,354
Median Rent
$288,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - A substantial yard complements the recently replaced roof and two new air-conditioning units.
Where is this duplex located?
The property is located at 5351 East Lake Mead Boulevard Las Vegas, NV.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two residences: one 2‑bedroom/1‑bathroom unit and one 1‑bedroom/1‑bathroom unit; 1,184 square feet; built in 1955; Parcel spans nearly half an acre
