Quadplex With Private
New
For Sale
$640,000
6979 Issac Ave, Las Vegas, NV 89156
Four residential units offer individual laundry rooms and on-site parking near shopping, dining, recreation, and major roadways.
Property Size3,260 SF
Lot Size0.16 Acres
Price / SF$196.32
Days on Market3
Property Features for 6979 Issac Ave
General Information
Standard status
Active
Size
3,260 SF
Lot size
0.16 Acres
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,893
Amenities
private laundry room
Building Details
Building Size
3,260 SF
Year Built
1983
Buildings
1
Stories
2
Units
4
Listing Agency:
Realty ONE Group
(702) 403-6090
Listed By:
Christopher A. Dewitt · License #S.0192488
(702) 403-6090
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 5:12AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This fourplex contains four 2-bedroom, 1-bath residences totaling 3,260 SF. Each unit has its own private laundry room, while the property also includes on-site parking and sits on a 6,970 SF lot. Constructed in 1983, the property has no HOA, and two long-term tenants are currently in place.
Located at 6979 Issac Ave in the Sunrise Mountain area of Las Vegas, the property is near shopping, dining, outdoor recreation, and major roadways. Reported mobility scores are 51 for walking, 45 for biking, and 32 for transit, reflecting some walkability, bike access, and public transportation availability.
Located at 6979 Issac Ave in the Sunrise Mountain area of Las Vegas, the property is near shopping, dining, outdoor recreation, and major roadways. Reported mobility scores are 51 for walking, 45 for biking, and 32 for transit, reflecting some walkability, bike access, and public transportation availability.
Key Highlights
- Four 2‑bedroom, 1‑bath units totaling 3,260 SF
- 6,970 SF lot with on‑site parking
- Private laundry room in each unit
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
$37,523
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
5.86%
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%
$750,460
$750.5K
Cap Rate 7%
$536,043
$536.0K
Cap Rate 9%
$416,922
$416.9K
Market Conditions
NOI Build-Up for 3,260 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
$56.7K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$53.6K $16.44/SF
− OpEx
−$16.1K −$4.93/SF
NOI
$37.5K $11.51/SF
Area
Las Vegas, NV
Vacancy
5.50%
Lease Rate
$17.40 /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%
$750,460
Cap Rate 7%
$536,043
Cap Rate 9%
$416,922
Alternative Uses
Best Use
Multifamily LT 5
$536.0K
$469.0K – $625.4K
NOI $37,523 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$495.4K
$433.4K – $577.9K
NOI $34,675 @ 7.0% cap · market cap 5.42%
Theoretical Best
Specialty Retail
$1.13M
$985.7K – $1.31M
NOI $78,853 @ 7.0% cap · market cap 12.32%
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
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
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 offer individual laundry rooms and on-site parking near shopping, dining, recreation, and major roadways.
Where is this quadplex located?
The property is located at 6979 Issac Ave Las Vegas, NV.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units totaling 3,260 SF; 6,970 SF lot with on‑site parking; Private laundry room in each unit
