Fourplex with Private
6938 Issac Ave Las Vegas, NV 89156
New
6938 Issac Ave, Las Vegas, NV, 89156
$700,000
For Sale
$700,000
Four spacious two-bedroom, two-bath units feature private balconies, fireplaces, and in-unit washer/dryer.
Property Size3,800 SF
Price / SF$184.21
Days on Market2
Property Features for 6938 Issac Ave
General Information
- Standard status
- Active
- Size
- 3,800 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1983
Listing agency
Century 21 Americana
(702) 409-1187
Listed by
Evon Reiber-Nava · License #BS.0145510
(702) 409-1187
Source
Elliman
Added: Jul 22 Updated: Jul 23 at 5:23AM Checked: Jul 23 at 5:23AM
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 Century 21 Americana
Investment Insights
Based on property information with market context.
This well-maintained fourplex includes four two-bedroom, two-bath apartments. Each unit is laid out with a primary bedroom that has a walk-in closet and private en-suite bathroom, plus a second bedroom with closet space and access to the second full bathroom. Interiors include large living rooms with fireplaces, formal dining areas, and kitchens with granite countertops. Sliding glass doors lead to private balconies, and each kitchen includes a stove, refrigerator, washer, and dryer. Updates include freshly painted interiors and upgraded flooring. The building also benefits from a Neptune Wetsuit waterproof roofing system installed in November 2019 with an eight-year warranty, covering the entire flat roof. Four Goodman packaged gas HVAC systems (14-SEER, two-ton units) were installed on the roof in November 2019.
The property is located near Nellis Air Force Base and public transportation, with access to shopping, dining, and essential services. Sunrise Plaza Shopping Center is nearby, offering grocery, pharmacy, restaurants, fitness, personal-care services, and a range of retail options.
The property is located near Nellis Air Force Base and public transportation, with access to shopping, dining, and essential services. Sunrise Plaza Shopping Center is nearby, offering grocery, pharmacy, restaurants, fitness, personal-care services, and a range of retail options.
Key Highlights
- Fourplex built in 1983 with four 2‑bedroom, 2‑bath units, each approx. 950 SF
- Nov. 2019 roof upgrade: Neptune Wetsuit waterproof roofing system with an 8‑year warranty on the flat roof
- Nov. 2019 HVAC updates: four 14‑SEER Goodman packaged gas HVAC systems, 2‑ton units, installed on the roof
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.1k | $17.40 |
| − Vacancy | −$3.6k | −$0.96 |
| EGI | $62.5k | $16.44 |
| − OpEx | −$18.7k | −$4.93 |
| NOI | $43.7k | $11.51 |
3,800 SF · lease $17.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$624.8K
$546.7K – $729.0K
NOI $43,738 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$577.4K
$505.2K – $673.7K
NOI $40,419 @ 7.0% cap · market cap 5.77%
Theoretical Best
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,914 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Four spacious two-bedroom, two-bath units feature private balconies, fireplaces, and in-unit washer/dryer.
Where is this quadplex located?
The property is located at 6938 Issac Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Fourplex built in 1983 with four 2‑bedroom, 2‑bath units, each approx. 950 SF; Nov. 2019 roof upgrade: Neptune Wetsuit waterproof roofing system with an 8‑year warranty on the flat roof; Nov. 2019 HVAC updates: four 14‑SEER Goodman packaged gas HVAC systems, 2‑ton units, installed on the roof
