60-Unit Apartment
New
For Sale
$7,400,000
5800 W Washington Ave, Las Vegas, NV 89107
A varied studio-to-two-bedroom mix includes private patios and balconies, laundry facilities, surface parking, and landscaped shared areas.
Property Size48,040 SF
Days on Market1
Property Features for 5800 W Washington Ave
General Information
Standard status
Active
Size
48,040 SF
Property subtype
Multifamily
Occupancy
95%
Additional Details
Cap Rate
5.29%
Road Access
Yes
Multifamily Units
60
Amenities
private patios and balconies
on-site laundry
landscaped common areas
Parcel Flexibility: Separately parceled fourplex buildings provide flexibility beyond a conventional apartment configuration.
Workforce Housing: A diverse mix of studio, one-bedroom, and two-bedroom residences provides housing options for a broad range of renter profiles.
Emerging Submarket: Green Acres is positioned near Hylo Park, a major mixed-use redevelopment bringing new housing, retail, dining, and recreation to the surrounding area.
Convenient Access: Positioning along West Washington Avenue provides convenient access to surrounding retail, schools, parks, and daily services.
Building Details
Building Size
48,040 SF
Buildings
15
Units
60
Listing Agency:
Las Vegas Office
Listed By:
Drew Holden · License #License(s): CA: 01962800, NV: S.0189703
(702) 215-7118
Source:
Marcusmillichap
Added: Oct 1
Last Checked: Oct 1 at 2:24PM
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 Las Vegas apartment portfolio comprises 60 residences across 15 adjacent fourplex buildings. Homes include studio, one-bedroom, and two-bedroom layouts, with private patios or balconies. On-site laundry, surface parking, and landscaped common areas are also part of the property. Each fourplex occupies its own parcel, creating a separately parceled configuration across the portfolio.
The buildings are located along West Washington Avenue, with nearby access to schools, grocery stores, parks, shopping, and transportation corridors. Meadows Mall and Ed Fountain Park are among the nearby destinations. The property is also near Hylo Park, a planned mixed-use redevelopment expected to include residential, retail, hospitality, recreation, and community-serving uses.
The buildings are located along West Washington Avenue, with nearby access to schools, grocery stores, parks, shopping, and transportation corridors. Meadows Mall and Ed Fountain Park are among the nearby destinations. The property is also near Hylo Park, a planned mixed-use redevelopment expected to include residential, retail, hospitality, recreation, and community-serving uses.
Key Highlights
- 60 apartments in 15 adjacent fourplex buildings
- Unit mix includes studios, one‑bedroom, and two‑bedroom residences
- Each fourplex is on a separate parcel
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
$510,980
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
6.91%
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%
$10,219,600
$10.2M
Cap Rate 7%
$7,299,714
$7.3M
Cap Rate 9%
$5,677,556
$5.7M
Market Conditions
NOI Build-Up for 48,040 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
$980.0K $20.40/SF
− Vacancy
−$51.0K −$1.06/SF
EGI
$929.1K $19.34/SF
− OpEx
−$418.1K −$8.70/SF
NOI
$511.0K $10.64/SF
Area
Las Vegas, NV
Vacancy
5.20%
Lease Rate
$20.40 /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%
$10,219,600
Cap Rate 7%
$7,299,714
Cap Rate 9%
$5,677,556
Alternative Uses
Best Use
Apartment 5plus
$7.30M
$6.39M – $8.52M
NOI $510,980 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$16.60M
$14.52M – $19.37M
NOI $1,161,989 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
60
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Explore this area
Business Placement
Demographics for 89107, NV
37,665
Population
13,844
Households
2.7
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
5.6 sq mi
ZIP Area
6,726
Density / Sq Mi
$60,466
Median Household Income
$35,719
Median Earnings
$1,320
Median Rent
$289,100
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?
Apartment building - A varied studio-to-two-bedroom mix includes private patios and balconies, laundry facilities, surface parking, and landscaped shared areas.
Where is this apartment building located?
The property is located at 5800 W Washington Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $7,400,000.
What are key features of this property?
This property features: 60 apartments in 15 adjacent fourplex buildings; Unit mix includes studios, one‑bedroom, and two‑bedroom residences; Each fourplex is on a separate parcel
