Remodeled 4-Unit
New
For Sale
$825,000
855 Del Rey Drive, Boulder City, NV 89005
Four refreshed residential units offer private laundry, covered parking, and individual storage without HOA restrictions.
Property Size3,804 SF
Days on Market6
Property Features for 855 Del Rey Drive
General Information
Standard status
Active
Size
3,804 SF
Total Parking Spaces
8
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$2,872
Amenities
in-unit washer/dryer
storage room
Building Details
Building Size
3,804 SF
Year Built
1983
Buildings
1
Listing Agency:
RE/MAX United
(702) 466-2868
Listed By:
Jui Ting Weng · License #B.0145279
(702) 466-2868
Source:
Usarealty
Added: Aug 1
Changed: Aug 5
Last Checked: Aug 6 at 4:00AM
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 RE/MAX United
Investment Insights
Based on property information with market context.
This 1983-built quadplex at 855 Del Rey Drive in Boulder City includes four residential units, each configured with two bedrooms and two bathrooms. Recent updates include laminated wood flooring and new paint throughout the units. Every residence also has its own washer and dryer, providing convenient in-unit laundry.
Each unit includes two covered parking spaces, while an additional storage room is located at the rear of the property. The asset is offered without an HOA, providing a straightforward multifamily ownership structure in Boulder City.
Each unit includes two covered parking spaces, while an additional storage room is located at the rear of the property. The asset is offered without an HOA, providing a straightforward multifamily ownership structure in Boulder City.
Key Highlights
- Four‑unit quadplex built in 1983
- Each unit has 2 bedrooms and 2 bathrooms
- Recent laminated wood flooring and new paint in all units
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
$49,982
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
6.06%
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%
$999,640
$999.6K
Cap Rate 7%
$714,029
$714.0K
Cap Rate 9%
$555,356
$555.4K
Market Conditions
NOI Build-Up for 3,804 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
$75.3K $19.80/SF
− Vacancy
−$3.9K −$1.03/SF
EGI
$71.4K $18.77/SF
− OpEx
−$21.4K −$5.63/SF
NOI
$50.0K $13.14/SF
Area
Clark County, NV
Vacancy
5.20%
Lease Rate
$19.80 /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%
$999,640
Cap Rate 7%
$714,029
Cap Rate 9%
$555,356
Alternative Uses
Best Use
Multifamily LT 5
$714.0K
$624.8K – $833.0K
NOI $49,982 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$640.6K
$560.5K – $747.3K
NOI $44,840 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$987.2K
$863.8K – $1.15M
NOI $69,102 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 89005, NV
14,941
Population
7,437
Households
2
Avg Household Size
54
Median Age
31%
College-Educated
97%
High-School Grad
92.3 sq mi
ZIP Area
162
Density / Sq Mi
$68,832
Median Household Income
$42,736
Median Earnings
$1,376
Median Rent
$424,200
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 - Four refreshed residential units offer private laundry, covered parking, and individual storage without HOA restrictions.
Where is this quadplex located?
The property is located at 855 Del Rey Drive Boulder City, NV.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1983; Each unit has 2 bedrooms and 2 bathrooms; Recent laminated wood flooring and new paint in all units
