Four-Unit Apartment
For Sale
$498,000
732 North 11th Street, Las Vegas, NV 89101
Central Las Vegas property with ample parking and a consistent two-bedroom, one-bath layout across all units.
Property Size3,356 SF
Days on Market206
Property Features for 732 North 11th Street
General Information
Standard status
Active
Size
3,356 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,637
Building Details
Building Size
3,356 SF
Year Built
1961
Tenancy
Multi
Listing Agency:
Keller Williams MarketPlace
(702) 752-0044
Listed By:
Richard J. Brenkus · License #BS.0016186
(702) 752-0044
Source:
Usarealty
Added: Feb 3
Changed: Aug 15
Last Checked: Aug 26 at 2:56PM
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 Keller Williams MarketPlace
Investment Insights
Based on property information with market context.
Built in 1961, this four-unit apartment property offers a consistent configuration throughout, with each residence containing two bedrooms and one bathroom. The repeatable layout provides a clear physical profile for evaluating the property as a multifamily asset.
The property is located at 732 North 11th Street in Las Vegas, within the 89101 ZIP code. Ample parking is available on site, adding a practical feature for residents and supporting the building’s four-unit configuration.
The property is located at 732 North 11th Street in Las Vegas, within the 89101 ZIP code. Ample parking is available on site, adding a practical feature for residents and supporting the building’s four-unit configuration.
Key Highlights
- Four‑unit multifamily property
- Each unit includes 2 bedrooms and 1 bath
- Built in 1961
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
$38,628
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
7.76%
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%
$772,560
$772.6K
Cap Rate 7%
$551,829
$551.8K
Cap Rate 9%
$429,200
$429.2K
Market Conditions
NOI Build-Up for 3,356 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
$58.4K $17.40/SF
− Vacancy
−$3.2K −$0.96/SF
EGI
$55.2K $16.44/SF
− OpEx
−$16.6K −$4.93/SF
NOI
$38.6K $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%
$772,560
Cap Rate 7%
$551,829
Cap Rate 9%
$429,200
Alternative Uses
Best Use
Multifamily LT 5
$551.8K
$482.9K – $643.8K
NOI $38,628 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$509.9K
$446.2K – $594.9K
NOI $35,696 @ 7.0% cap · market cap 7.17%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,175 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
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
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 - Central Las Vegas property with ample parking and a consistent two-bedroom, one-bath layout across all units.
Where is this quadplex located?
The property is located at 732 North 11th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Four‑unit multifamily property; Each unit includes 2 bedrooms and 1 bath; Built in 1961
