2252 Ellis Street
Turnkey Income Property | Over $40K in Improvements | 8%+ Returns
Marketing description
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.
Investment highlights
- Four spacious 2-bedroom, 1-bath units with great curb appeal, fenced yard, and on-site parking.
- 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).
- Upgraded interiors featuring remodeled kitchens, updated plumbing, and regularly serviced A/C units.
- Private exterior storage for each unit plus a large shared storage building and community laundry room.
- Energy-efficient double-pane windows and all appliances included (some with built-in microwave or garbage disposal).
- Prime 4-Unit Investment Property offering steady income and long-term upside potential.
- Excellent location near Carey Ave & Mojave Rd, close to the North Las Vegas Fire and Police Departments.
- Reliable tenants, all current on rent; Unit D vacating November 15 offers value-add potential.
- Well-maintained and professionally managed, providing a balance of immediate cash flow and long-term growth.
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