Remodeled
New
For Sale
$649,900
702 North 10th Street, Las Vegas, NV 89101
Four residential units feature refreshed interiors, updated appliances, and on-site parking.
Property Size2,496 SF
Days on Market4
Property Features for 702 North 10th Street
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,253
Building Details
Building Size
2,496 SF
Year Built
1957
Listing Agency:
Simply Vegas
Listed By:
Jonathan Jacobs · License #S.0067721
(702) 515-9946
Source:
Vicerealtygroup
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 4 at 10:06AM
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 Simply Vegas
Investment Insights
Based on property information with market context.
This quadplex contains four residential units and has undergone extensive remodeling. Improvements include updated kitchens, appliances, flooring, interior paint, and the roof, while on-site parking serves the property.
Built in 1957, the property is located at 702 North 10th Street in Las Vegas, near Downtown Las Vegas. Shopping, dining, employment centers, and major roadways are accessible from the property.
Built in 1957, the property is located at 702 North 10th Street in Las Vegas, near Downtown Las Vegas. Shopping, dining, employment centers, and major roadways are accessible from the property.
Key Highlights
- Four‑unit quadplex
- Updated kitchens and appliances
- Newer flooring, interior paint, and roof
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
$28,729
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
4.42%
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%
$574,580
$574.6K
Cap Rate 7%
$410,414
$410.4K
Cap Rate 9%
$319,211
$319.2K
Market Conditions
NOI Build-Up for 2,496 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
$43.4K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$41.0K $16.44/SF
− OpEx
−$12.3K −$4.93/SF
NOI
$28.7K $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%
$574,580
Cap Rate 7%
$410,414
Cap Rate 9%
$319,211
Alternative Uses
Best Use
Multifamily LT 5
$410.4K
$359.1K – $478.8K
NOI $28,729 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$379.3K
$331.9K – $442.5K
NOI $26,549 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$862.5K
$754.7K – $1.01M
NOI $60,373 @ 7.0% cap · market cap 9.29%
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
1,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
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 feature refreshed interiors, updated appliances, and on-site parking.
Where is this quadplex located?
The property is located at 702 North 10th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Four‑unit quadplex; Updated kitchens and appliances; Newer flooring, interior paint, and roof
