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2252 Ellis Street 2252 Ellis St 4 Unit Apartment Building $650,000 ($162,500/Unit) 6.68% Cap Rate North Las Vegas, NV 89030
Investment Highlights
- Strong returns with an actual cap rate of 6.7% and pro forma of 8.7%.
- Recent capital improvements include a new roof (2020), water heater (2023), gas line replacement (2024), and owned washer/dryer (2025).
- Private exterior storage for each unit plus a large shared storage building and community laundry room.
- Four spacious 2-bedroom, 1-bath units with great curb appeal, fenced yard, and on-site parking.
- Upgraded interiors featuring remodeled kitchens, updated plumbing, and regularly serviced A/C units.
- Excellent location near Carey Ave & Mojave Rd, close to the North Las Vegas Fire and Police Departments.
Executive Summary
The Hyde Real Estate group is pleased to present a prime 4-unit investment opportunity at 2252 Ellis Street in North Las Vegas. Ideally located near the intersection of Carey Avenue and Mojave Road, this property sits in a convenient and well-established neighborhood, within walking distance to both the North Las Vegas Fire Department and Police Station, providing an added peace of mind for residents and investors alike.
This well-maintained single-story fourplex features four spacious 2-bedroom, 1-bath units with excellent curb appeal, a fenced yard, and on-site parking. Offering an actual cap rate of 6.7% and a pro forma of 8.7%, it delivers a balance of immediate cash flow and long-term growth potential. Recent capital improvements include a new roof (2020, $27,000), 100-gallon water heater (2023, $5,200), gas line replacement (2024, $6,000), and an owned coin-operated washer/dryer (2025).
Each unit features remodeled kitchens, upgraded plumbing, and regularly serviced A/C units. Residents enjoy private exterior storage, a large shared storage building, and a community laundry room. Double-pane windows enhance energy efficiency, and all tenants are current on rent. With one upcoming vacancy, this property offers both stable returns and value-add potential in a growing, secure North Las Vegas neighborhood.
This well-maintained single-story fourplex features four spacious 2-bedroom, 1-bath units with excellent curb appeal, a fenced yard, and on-site parking. Offering an actual cap rate of 6.7% and a pro forma of 8.7%, it delivers a balance of immediate cash flow and long-term growth potential. Recent capital improvements include a new roof (2020, $27,000), 100-gallon water heater (2023, $5,200), gas line replacement (2024, $6,000), and an owned coin-operated washer/dryer (2025).
Each unit features remodeled kitchens, upgraded plumbing, and regularly serviced A/C units. Residents enjoy private exterior storage, a large shared storage building, and a community laundry room. Double-pane windows enhance energy efficiency, and all tenants are current on rent. With one upcoming vacancy, this property offers both stable returns and value-add potential in a growing, secure North Las Vegas neighborhood.
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Property Facts
| Price | $650,000 | Building Class | C |
| Price Per Unit | $162,500 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 3,008 SF |
| Cap Rate | 6.68% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2024 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-3 - Multi-Family Residential District (R-3) | ||
| Price | $650,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 6.68% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 3,008 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1963/2024 |
| Opportunity Zone |
Yes |
| Zoning | R-3 - Multi-Family Residential District (R-3) |
Amenities
Unit Amenities
- Storage Space
- Kitchen
- Double Pane Windows
- Family Room
Site Amenities
- Laundry Facilities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,100 | 684 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 139-24-110-260 | Improvements Assessment | $29,302 |
| Land Assessment | $45,500 | Total Assessment | $74,802 |
Property Taxes
Parcel Number
139-24-110-260
Land Assessment
$45,500
Improvements Assessment
$29,302
Total Assessment
$74,802
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