Renovated
For Sale
$649,900
724 North 9th Street, Las Vegas, NV 89101
All four apartments have stainless steel appliances and private washers and dryers.
Property Size2,380 SF
Days on Market9
Property Features for 724 North 9th Street
General Information
Standard status
Active
Size
2,380 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 1BR, 1 x 2BR, 1 x 3BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,643
Amenities
stainless steel appliances
washer/dryer in unit
Building Details
Building Size
2,380 SF
Year Built
1972
Buildings
1
Stories
1
Listing Agency:
Fathom Realty
Listed By:
Maria G. Cegarra Guillen · License #S.0193735
(702) 936-9885
Source:
Vicerealtygroup
Added: Sep 23
Changed: Sep 30
Last Checked: Oct 1 at 4:33PM
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 Fathom Realty
Investment Insights
Based on property information with market context.
This renovated, single-story fourplex contains four apartments: two one-bedroom units, one two-bedroom unit, and one three-bedroom unit. Stainless steel appliances and an individual washer and dryer are provided in each residence. The building dates to 1972, and there is no HOA.
The property is near Downtown Las Vegas, with access to dining, retail, museums, public transportation, and major roads. Existing leases and unit availability may affect occupancy or a buyer’s ability to reside in one apartment while renting the others.
The property is near Downtown Las Vegas, with access to dining, retail, museums, public transportation, and major roads. Existing leases and unit availability may affect occupancy or a buyer’s ability to reside in one apartment while renting the others.
Key Highlights
- Four apartments: two one‑bedroom, one two‑bedroom, and one three‑bedroom unit
- Renovated single‑story building
- Stainless steel appliances and a washer and dryer in every 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
$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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - All four apartments have stainless steel appliances and private washers and dryers.
Where is this quadplex located?
The property is located at 724 North 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 apartments: two one‑bedroom, one two‑bedroom, and one three‑bedroom unit; Renovated single‑story building; Stainless steel appliances and a washer and dryer in every unit
