Renovated Four-Unit
For Sale
$649,900
724 N 9th Street, Las Vegas, NV 89101
Residential, Las Vegas, NV
Property Size2,380 SF
Lot Size0.16 Acres
Price / SF$273.07
Days on Market10
Property Features for 724 N 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Dryer, Dishwasher, Exhaust Fan, Oven, Range, Refrigerator, Range Hood, Washer
Subdivision
Stewart Add
Elementary school
,
Directions
From N Las Vegas Blvd, head east on E Bonanza Rd. Turn left onto N 9th St. The property will be on the right.
Standard status
Active
APN
139-26-410-005
Size
2,380 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1643
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
modern finishes
stainless steel appliances
washer and dryer
Building Details
Year built
1972
Floors in Building
1
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Stucco
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Fathom Realty
(888) 455-6040
Listed By:
Maria G. Cegarra Guillen · License #S.0193735
(702) 936-9885
Added: Sep 23
Changed: Sep 29
Last Checked: Oct 2 at 1:06AM
MLS# 2821399
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.
This renovated, single-story quadplex contains 2,380 square feet across four residences on a 0.16-acre lot. The unit mix comprises two one-bedroom homes, one two-bedroom home, and one three-bedroom home. Each residence has a washer and dryer, stainless steel appliances, and updated interior finishes.
The property is near Downtown Las Vegas, with dining, shopping, museums, public transportation, and major roads accessible nearby. There is no HOA. Central heating and air conditioning serve the building.
The property is near Downtown Las Vegas, with dining, shopping, museums, public transportation, and major roads accessible nearby. There is no HOA. Central heating and air conditioning serve the building.
Key Highlights
- Four residences: two one‑bedroom, one two‑bedroom, and one three‑bedroom unit
- 2,380‑square‑foot building on a 0.16‑acre lot
- Renovated, single‑story configuration
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
$27,394
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
4.22%
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%
$547,880
$547.9K
Cap Rate 7%
$391,343
$391.3K
Cap Rate 9%
$304,378
$304.4K
Market Conditions
NOI Build-Up for 2,380 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
$41.4K $17.40/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$39.1K $16.44/SF
− OpEx
−$11.7K −$4.93/SF
NOI
$27.4K $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%
$547,880
Cap Rate 7%
$391,343
Cap Rate 9%
$304,378
Alternative Uses
Best Use
Multifamily LT 5
$391.3K
$342.4K – $456.6K
NOI $27,394 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$361.6K
$316.4K – $421.9K
NOI $25,315 @ 7.0% cap · market cap 3.90%
Theoretical Best
Specialty Retail
$822.4K
$719.6K – $959.5K
NOI $57,567 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,095
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
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Frequently Asked Questions
What type of property is this?
Quadplex - A varied bedroom mix and private laundry in each residence support flexible occupancy arrangements.
Where is this quadplex located?
The property is located at 724 N 9th 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 residences: two one‑bedroom, one two‑bedroom, and one three‑bedroom unit; 2,380‑square‑foot building on a 0.16‑acre lot; Renovated, single‑story configuration
