2516 Ellis Street, North Las Vegas, NV 89030
- $689,000
- 3,204
- SqFt
- List Price
- $689,000
- Status
- ACTIVE
- MLS#
- 2829962
- Living Area
- 3,204
- Lot Size
- 8,712
Property Description
GREAT OPPORTUNITY FOR FIRST-TIME OR EXPERIENCED INVESTORS! FOURPLEX | NO HOA | RECENT RENOVATIONS | INCOME & UPSIDE POTENTIAL 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.
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Additional Information
- Subdivision
- Arrowhead Acres Tr
- Zip
- 89030
- Elementary School 3-5
- Living Area
- 3,204
- Flooring
- Luxury Vinyl Plank, Tile
- Lot Size
- 8,712
- Acres
- 0.20
- Property Condition
- Excellent, Resale
- Exterior Features
- Private Yard
- Heating
- Central, Electric
- Cooling
- Central Air
- Construction
- Block, Stucco
- Year Built
- 1963
- Bldg Desc
- Fourplex
- Parking
- Paved
- Parking Spaces
- 8
- Heating
- Central, Electric
- Cooling
- Central Air
- Appliances
- Refrigerator, Water Heater
- Sewer
- Public Sewer
- Annual Taxes
- $1,677
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Courtesy of Catherine Hyde with Simply Vegas.
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