Updated Four-Unit
For Sale
$599,900
828 Sagman Street, Las Vegas, NV 89101
Four units with expired leases provide flexibility for an owner-occupant.
Property Size3,357 SF
Days on Market12
Property Features for 828 Sagman Street
General Information
Standard status
Active
Size
3,357 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,732
Building Details
Building Size
3,357 SF
Year Built
1976
Buildings
1
Listing Agency:
Turner Realty
Listed By:
Michael L. Turner · License #B.0027356
(702) 876-4098
Source:
Usarealty
Added: Sep 16
Changed: Sep 23
Last Checked: Sep 26 at 1:06PM
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 Turner Realty
Investment Insights
Based on property information with market context.
Built in 1976, this four-unit residential income property at 828 Sagman Street in Las Vegas has been updated with modern interior touches. The property is described as well maintained and has remained under the same ownership for 16 years.
All four leases have expired, creating flexibility for an owner-occupant arrangement. The quadplex offers a straightforward multifamily configuration in a central Las Vegas setting.
All four leases have expired, creating flexibility for an owner-occupant arrangement. The quadplex offers a straightforward multifamily configuration in a central Las Vegas setting.
Key Highlights
- Four‑unit quadplex in Las Vegas
- Built in 1976
- Updated with modern interior touches
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
$38,639
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
6.44%
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%
$772,780
$772.8K
Cap Rate 7%
$551,986
$552.0K
Cap Rate 9%
$429,322
$429.3K
Market Conditions
NOI Build-Up for 3,357 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%
$772,780
Cap Rate 7%
$551,986
Cap Rate 9%
$429,322
Alternative Uses
Best Use
Multifamily LT 5
$552.0K
$483.0K – $644.0K
NOI $38,639 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$510.1K
$446.3K – $595.1K
NOI $35,707 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,199 @ 7.0% cap · market cap 13.54%
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
793
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 - Four units with expired leases provide flexibility for an owner-occupant.
Where is this quadplex located?
The property is located at 828 Sagman Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Four‑unit quadplex in Las Vegas; Built in 1976; Updated with modern interior touches
