2516 Ellis ST North Las Vegas, NV 89030
3,204 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,204 sqft
Price per Sqft $215
Subdivision Arrowhead Acres Tr
MLS Listing ID 2829962
Style Fourplex
Construction Status Excellent,Resale
HOA Y/N No
Year Built 1963
Annual Tax Amount $1,677
Lot Size 8,712 Sqft
Acres 0.2
Property Sub-Type Multi Family
Property Description
Looking to get started in multifamily investing or add another income-producing property to your portfolio? This North Las Vegas fourplex offers a great combination of established rental income, recent improvements, and room to grow.
2516 Ellis features four spacious 2-bedroom, 1-bath units, all on one level. With three units already rented and the fourth recently renovated and vacant, a new owner has the opportunity to increase rental income right away.
Income From Day One: Three occupied units currently generate $4,335 per month.
Immediate Rental Upside: Lease the vacant, renovated unit at a projected $1,450 per month to increase scheduled rental income to $5,785 monthly.
Recent Improvements: Two units renovated in 2024, including a new A/C system in Unit D.
Simple, Practical Layout: Four identical 2-bedroom, 1-bath units in a single-story building, making leasing and maintenance more straightforward.
No HOA: No monthly association dues cutting into your rental income.
Attractive Investment Potential: Estimated 5.2% in-place CAP rate with a projected 7.4% stabilized CAP rate once the vacant unit is leased.
Convenient Location: Close to I-15, Downtown Las Vegas, shopping, schools, parks, and everyday amenities.
Whether you're purchasing your first rental property or expanding an existing portfolio, this fourplex offers a practical entry into multifamily ownership with existing tenants, recent renovations, and an opportunity to improve cash flow.
Offering Memorandum, rent roll, and investment analysis available upon request. Showings by appointment only, contact listing agent.
Location
State NV
County Clark
Direction Head east from East Lake Mead and Civic Center, left on Ellis Street, pass Carey Ave, property will be on your right.
Interior
Heating Central, Electric
Cooling Central Air
Flooring Luxury Vinyl Plank, Tile
Furnishings Unfurnished
Fireplace No
Appliance Refrigerator, Water Heater
Exterior
Exterior Feature Private Yard
Parking Features Paved
Water Access Desc Public
Roof Type Pitched
Total Parking Spaces 8
Building
Story 1
Sewer Public Sewer
Water Public
Construction Status Excellent,Resale
Schools
Elementary Schools ,
Others
Tax ID 139-13-410-167
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Virtual Tour https://my.matterport.com/show/?m=769zSAJveZy&mls=1
