Multifamily Property with
For Sale
$699,999
637 N 11th Street, Las Vegas, NV 89101
Residential, Las Vegas, NV
Property Size3,268 SF
Lot Size0.16 Acres
Price / SF$214.20
Days on Market137
Property Features for 637 N 11th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Patio
Appliances
Dryer, Dishwasher, Oven, Range, Refrigerator, Washer
Subdivision
Stewart Add
Elementary school
,
Directions
from I-15 North to south lake city exit 42B exit 75A take N las vegas Blvd to cashman center in 600 ft Right on E Bonanza Road left on 11th st in 500 ft on your left 637 N 11th st
Standard status
Active
APN
139-26-410-067
Size
3,268 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1501
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1961
Floors in Building
2
Number of units
1
Flooring type
Tile - Ceramic
Building materials
Stucco
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Key Realty
(702) 313-7003
Listed By:
Colleen J. Blythe · License #S.0199068
(702) 762-4232
Added: Apr 17
Changed: Aug 19
Last Checked: Aug 31 at 9:06AM
MLS# 2774370
Copyright © 2026 Las Vegas REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property includes 3,268 square feet on a 0.16-acre lot. Built in 1961, the building features stucco construction, ceramic tile flooring, a patio, and a composition shingle roof. Central electric heating and central air conditioning serve the property.
The residence is connected to public water and public sewer. Kitchen and laundry appliances include an oven, range, refrigerator, dishwasher, washer, and dryer. The property is located at 637 N 11th Street in Las Vegas, within ZIP Code 89101 and Clark County.
The residence is connected to public water and public sewer. Kitchen and laundry appliances include an oven, range, refrigerator, dishwasher, washer, and dryer. The property is located at 637 N 11th Street in Las Vegas, within ZIP Code 89101 and Clark County.
Key Highlights
- 3,268‑square‑foot multifamily property on a 0.16‑acre lot
- Built in 1961 with stucco construction
- Central electric heating and central air conditioning
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
$34,760
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
4.97%
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%
$695,200
$695.2K
Cap Rate 7%
$496,571
$496.6K
Cap Rate 9%
$386,222
$386.2K
Market Conditions
NOI Build-Up for 3,268 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
$66.7K $20.40/SF
− Vacancy
−$3.5K −$1.06/SF
EGI
$63.2K $19.34/SF
− OpEx
−$28.4K −$8.70/SF
NOI
$34.8K $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%
$695,200
Cap Rate 7%
$496,571
Cap Rate 9%
$386,222
Alternative Uses
Best Use
Apartment 5plus
$496.6K
$434.5K – $579.3K
NOI $34,760 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$988.1K – $1.32M
NOI $79,046 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
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?
Multifamily property - Urban Las Vegas property with central heating and cooling, ceramic tile flooring, and public utility services.
Where is this multifamily property located?
The property is located at 637 N 11th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 3,268‑square‑foot multifamily property on a 0.16‑acre lot; Built in 1961 with stucco construction; Central electric heating and central air conditioning
