Two-Story Fourplex with Updated
For Sale
$615,000
709 North 11th St, Las Vegas, NV 89101
Fully occupied four-unit property with updated interiors, in-unit laundry, and new plumbing throughout.
Property Size3,151 SF
Price / SF$195.18
Days on Market10
Property Features for 709 North 11th St
General Information
Standard status
Active
Size
3,151 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$46,200
Public Transit
Yes
Multifamily Units
4
Amenities
oven
refrigerator
in-unit washer
community laundry room
Building Details
Year Built
1955
Stories
2
Tenancy
Multi
Listing Agency:
Easy Street Realty Las Vegas
Listed By:
Morin Z. Morim · License #S.0197728
(818) 284-3734
Source:
Teamdrivenrealestate
Added: Sep 4
Changed: Sep 11
Last Checked: Sep 12 at 10:50AM
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 Easy Street Realty Las Vegas
Investment Insights
Based on property information with market context.
This two-story quadplex contains four residential units totaling 3,151 square feet, with a combined layout of 5 bedrooms and 4 bathrooms. The property is fully occupied with long-term tenants in place. Recent improvements include brand-new plumbing throughout and updated units. Individual residences include ovens, refrigerators, and in-unit washers, while a shared laundry room provides two dryers.
Located at 709 N 11th St in Las Vegas, the property is near employment hubs, dining, entertainment, and public transit within walking distance. Built in 1955, the fourplex offers an established residential configuration with dedicated tenant amenities and existing occupancy.
Located at 709 N 11th St in Las Vegas, the property is near employment hubs, dining, entertainment, and public transit within walking distance. Built in 1955, the fourplex offers an established residential configuration with dedicated tenant amenities and existing occupancy.
Key Highlights
- Four‑unit quadplex with 3,151 square feet across a two‑story layout
- 5 bedrooms and 4 bathrooms in total
- Fully occupied with long‑term tenants in place
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
$36,268
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
5.90%
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%
$725,360
$725.4K
Cap Rate 7%
$518,114
$518.1K
Cap Rate 9%
$402,978
$403.0K
Market Conditions
NOI Build-Up for 3,151 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
$54.8K $17.40/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$51.8K $16.44/SF
− OpEx
−$15.5K −$4.93/SF
NOI
$36.3K $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%
$725,360
Cap Rate 7%
$518,114
Cap Rate 9%
$402,978
Alternative Uses
Best Use
Multifamily LT 5
$518.1K
$453.4K – $604.5K
NOI $36,268 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$478.8K
$419.0K – $558.6K
NOI $33,516 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$1.09M
$952.7K – $1.27M
NOI $76,216 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit property with updated interiors, in-unit laundry, and new plumbing throughout.
Where is this quadplex located?
The property is located at 709 North 11th St Las Vegas, NV.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,151 square feet across a two‑story layout; 5 bedrooms and 4 bathrooms in total; Fully occupied with long‑term tenants in place
