Multifamily Property Under
For Sale
$699,000
6937 Issac Ave, Las Vegas, NV 89156
Renovation work is underway on this established multifamily property.
Property Size3,344 SF
Price / SF$209.03
Days on Market49
Property Features for 6937 Issac Ave
General Information
Standard status
Active
Size
3,344 SF
Property subtype
Multi-Family
Building Details
Year Built
1983
Listing Agency:
Desert Realty
Listed By:
Liz Thompson · License #SO16018
Source:
Nvhousehunt
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 12 at 11:17PM
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 Desert Realty
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Investment Insights
Based on property information with market context.
This multifamily property contains 3,344 square feet and was constructed in 1983. Renovation work is currently underway, providing an updated asset in progress rather than a completed condition.
The property is located at 6937 Issac Ave in Las Vegas, Nevada 89156. Its multifamily classification and existing improvements provide the core physical profile for continued renovation and repositioning.
The property is located at 6937 Issac Ave in Las Vegas, Nevada 89156. Its multifamily classification and existing improvements provide the core physical profile for continued renovation and repositioning.
Key Highlights
- 3,344‑square‑foot multifamily property
- Renovation work currently underway
- Constructed in 1983
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,569
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$711,380
$711.4K
Cap Rate 7%
$508,129
$508.1K
Cap Rate 9%
$395,211
$395.2K
Market Conditions
NOI Build-Up for 3,344 SF
Gross rent
$68.2K $20.40/SF
− Vacancy
−$3.5K −$1.06/SF
EGI
$64.7K $19.34/SF
− OpEx
−$29.1K −$8.70/SF
NOI
$35.6K $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 Rate 5%
$711,380
Cap Rate 7%
$508,129
Cap Rate 9%
$395,211
Alternative Uses
Best Use
Apartment 5plus
$508.1K
$444.6K – $592.8K
NOI $35,569 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,885 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
285
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Renovation work is underway on this established multifamily property.
Where is this multifamily property located?
The property is located at 6937 Issac Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,344‑square‑foot multifamily property; Renovation work currently underway; Constructed in 1983
