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2252 Ellis St 4 Unit Apartment Building $640,000 ($160,000/Unit) 5.95% Cap Rate North Las Vegas, NV 89030
Investment Highlights
- 8.5% Pro Forma Cap Rate
- Remodeled Kitchens & Upgraded Plumbing
- Private Tenant Storage + Large Shared Storage Building
- Major Capital Improvements: Roof (2020), Water Heater (2023), Gas Line (2024)
- Owned Coin-Operated Laundry (2025) for Additional Income
- Double-Pane Windows & Regularly Serviced A/C Units
Executive Summary
Hyde Real Estate Group is pleased to present 2252 Ellis. This property is an exceptional value-add investment opportunity with a current 6.0% cap rate and an estimated 8.5% pro forma cap rate, offering immediate cash flow and strong upside potential. Major capital improvements include a new roof (2020), 100-gallon water heater (2023), gas line replacement (2024), and owned coin-operated laundry (2025). Each unit features remodeled kitchens, upgraded plumbing, regularly serviced A/C units, and energy-efficient double-pane windows. Tenants have access to private exterior storage, a large shared storage building, and an on-site community laundry room. Conveniently located near Carey Ave. and Mojave Rd., within walking distance of the North Las Vegas Police Department and Fire Station, this well-maintained property is positioned for both stable returns and future appreciation.
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Property Facts
| Price | $640,000 | Building Class | C |
| Price Per Unit | $160,000 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 3,008 SF |
| Cap Rate | 5.95% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-3 - Multi-Family Residential District (R-3) | ||
| Price | $640,000 |
| Price Per Unit | $160,000 |
| Sale Type | Investment |
| Cap Rate | 5.95% |
| 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 | 1963 |
| 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 | - | 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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2252 Ellis St
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