Four-Unit
For Sale
$640,000
6979 Issac Avenue, Las Vegas, NV 89156
MULTI_FAMILY - Other - Las Vegas, NV
Property Size3,260 SF
Lot Size0.16 Acres
Price / SF$196.32
Days on Market8
Property Features for 6979 Issac Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Oven, Range
Subdivision
Sierra Sunrise
Elementary school
,
Directions
From Lake Mead and Hollywood, head east on Lake Mead, north on Radwick, east on Kilgore, and north on Exeter to Issac.
Standard status
Active
APN
140-23-111-035
Size
3,260 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1893
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
private laundry room
Building Details
Year built
1983
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile
Building materials
Stucco, Wood Frame
Roof type
Tile
Architectural style
Other
Listing Agency:
Realty ONE Group, Inc
(702) 898-0101
Listed By:
Christopher A. Dewitt · License #S.0192488
(702) 403-6090
Added: Aug 5
Changed: Aug 12
Last Checked: Aug 12 at 6:06PM
MLS# 2806154
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.
Built in 1983, this quadplex contains four 2-bedroom, 1-bath residences within 3,260 square feet on a 6,970-square-foot lot. Each unit has a private laundry room, while the property also includes on-site parking, central heating, central air conditioning, and public water and sewer service. Interior finishes include carpet and tile flooring, ceiling fans, and window treatments, with ovens and ranges provided. Stucco and wood-frame construction is topped by a tile roof.
The property is located in the Sunrise Mountain area of Las Vegas near shopping, dining, outdoor recreation, and major roadways. The setting also offers city and mountain views. Two long-term tenants are in place, and current unit rents are excluded from this summary.
The property is located in the Sunrise Mountain area of Las Vegas near shopping, dining, outdoor recreation, and major roadways. The setting also offers city and mountain views. Two long-term tenants are in place, and current unit rents are excluded from this summary.
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 - Private laundry rooms, on-site parking, and public utilities support the four residences.
Where is this quadplex located?
The property is located at 6979 Issac Avenue 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
