Updated Fourplex with Covered
New
For Sale
$800,000
6553 McRae Avenue, Las Vegas, NV 89108
Residential, Las Vegas, NV
Property Size3,456 SF
Lot Size0.06 Acres
Price / SF$231.48
Days on Market3
Property Features for 6553 McRae Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
4
Parking features
Covered
Interior features
Storage
Appliances
Dryer, Dishwasher, Electric Water Heater, Disposal, Oven, Range, Refrigerator, Washer
Subdivision
Rock Spgs Vista Unit #11
Elementary school
,
Directions
From Rainbow and Lake Mead go North on Rainbow, right on Balzar to Summer Village complex.
Standard status
Active
APN
138-23-124-077
Size
3,456 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
2399
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1998
Floors in Building
2
Number of units
4
Flooring type
Carpet, Vinyl
Building materials
Stucco
Roof type
Tile
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Redfin
(702) 930-8408
Listed By:
Fernanda A. Kriese · License #S.0185158
(702) 461-8820
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 5 at 5:06AM
MLS# 2812606
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 3,456-square-foot fourplex in Las Vegas was built in 1998 on a 0.0598-acre lot. The property has stucco construction, tile roofing, vinyl and carpet flooring, storage, central electric heating, central air, public water, and public sewer. Covered parking is also provided.
Unit 201 has new LVP flooring, fresh paint, and new appliances. Improvements to Unit 102 completed in 2025 include LVP flooring and interior paint. Unit 101 received a new A/C unit in August 2026. Units 101 and 202 have each been occupied by the same tenant since April 2018, providing documented long-term tenancy within the four-unit configuration.
Unit 201 has new LVP flooring, fresh paint, and new appliances. Improvements to Unit 102 completed in 2025 include LVP flooring and interior paint. Unit 101 received a new A/C unit in August 2026. Units 101 and 202 have each been occupied by the same tenant since April 2018, providing documented long-term tenancy within the four-unit configuration.
Key Highlights
- 3,456‑square‑foot fourplex on a 0.0598‑acre lot
- Four residential units with documented long‑term tenancy in Units 101 and 202 since April 2018
- Unit 201 updated with new LVP flooring, interior paint, and appliances
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
$45,409
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
5.68%
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%
$908,180
$908.2K
Cap Rate 7%
$648,700
$648.7K
Cap Rate 9%
$504,544
$504.5K
Market Conditions
NOI Build-Up for 3,456 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
$68.4K $19.80/SF
− Vacancy
−$3.6K −$1.03/SF
EGI
$64.9K $18.77/SF
− OpEx
−$19.5K −$5.63/SF
NOI
$45.4K $13.14/SF
Area
ZIP 89108
Vacancy
5.20%
Lease Rate
$19.80 /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%
$908,180
Cap Rate 7%
$648,700
Cap Rate 9%
$504,544
Alternative Uses
Best Use
Multifamily LT 5
$648.7K
$567.6K – $756.8K
NOI $45,409 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$582.0K
$509.2K – $679.0K
NOI $40,738 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,874 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 89108, NV
73,637
Population
28,377
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
80%
High-School Grad
8.9 sq mi
ZIP Area
8,274
Density / Sq Mi
$57,403
Median Household Income
$36,383
Median Earnings
$1,431
Median Rent
$304,400
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?
Quadplex - Four residential units include recent interior improvements, central cooling, and covered parking.
Where is this quadplex located?
The property is located at 6553 McRae Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 3,456‑square‑foot fourplex on a 0.0598‑acre lot; Four residential units with documented long‑term tenancy in Units 101 and 202 since April 2018; Unit 201 updated with new LVP flooring, interior paint, and appliances
