Four-Unit Property with Detached
For Sale
$765,000
Pending
123 W Cedar Street, Elko, NV 89801
ResidentialIncome, Elko, NV
Property Size5,184 SF
Lot Size0.23 Acres
Days on Market27
Property Features for 123 W Cedar Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
ZR
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 8, Bathroom 3, Bathroom 5, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 7, Bathroom 4, Bathroom 2, Bedroom 6, Bedroom 2, Bedroom 3
Exterior features
Balcony, SprinklerIrrigation, Landscaping
Appliances
Dishwasher, ElectricOven, ElectricRange, GasWaterHeater, Refrigerator
Subdivision
First Addition
Lot features
Landscaped, Sprinklers Automatic
Standard status
Pending
APN
001-095-008
Size
5,184 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
4071
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1986
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
WoodSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Elko Realty
(775) 777-3556
Listed By:
Christina Pemelton · License #B.0146152.LLC
(775) 397-3695
Added: Aug 7
Changed: Sep 1
Last Checked: Sep 2 at 7:06AM
MLS# 3628243
Copyright © 2026 Elko County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit residential property contains 5,184 square feet, with each apartment measuring 1,296 square feet and offering two bedrooms. The 1986-built complex includes three carports and an 840-square-foot detached garage. Individual units feature dishwashers, electric ovens and ranges, refrigerators, gas water heaters, carpet, vinyl flooring, natural-gas forced-air heat, and window-unit cooling.
Set on 0.23 acres at 123 W Cedar Street in Elko, the property has grass landscaping, mature trees, balcony features, and an automatic sprinkler system. Public water serves the complex. Utility responsibilities are divided between the parties, with residents paying electric and gas while the landlord covers water.
Set on 0.23 acres at 123 W Cedar Street in Elko, the property has grass landscaping, mature trees, balcony features, and an automatic sprinkler system. Public water serves the complex. Utility responsibilities are divided between the parties, with residents paying electric and gas while the landlord covers water.
Key Highlights
- Four apartments totaling 5,184 square feet; each unit measures 1,296 square feet
- Each apartment includes 2 bedrooms
- 840‑square‑foot detached garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,294
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$845,880
$845.9K
Cap Rate 7%
$604,200
$604.2K
Cap Rate 9%
$469,933
$469.9K
Market Conditions
NOI Build-Up for 5,184 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$65.3K $12.60/SF
− Vacancy
−$4.9K −$0.95/SF
EGI
$60.4K $11.66/SF
− OpEx
−$18.1K −$3.50/SF
NOI
$42.3K $8.16/SF
Area
Elko County, NV
Vacancy
7.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$845,880
Cap Rate 7%
$604,200
Cap Rate 9%
$469,933
Alternative Uses
Best Use
Multifamily LT 5
$604.2K
$528.7K – $704.9K
NOI $42,294 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$559.1K
$489.2K – $652.3K
NOI $39,138 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,310 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,030
Businesses Nearby
Explore this area
Business Placement
Demographics for 89801, NV
26,250
Population
11,079
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
87%
High-School Grad
1,212.7 sq mi
ZIP Area
22
Density / Sq Mi
$83,777
Median Household Income
$48,886
Median Earnings
$1,185
Median Rent
$278,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units occupy a landscaped site with mature trees and automatic irrigation.
Where is this quadplex located?
The property is located at 123 W Cedar Street Elko, NV.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Four apartments totaling 5,184 square feet; each unit measures 1,296 square feet; Each apartment includes 2 bedrooms; 840‑square‑foot detached garage
