4-Unit Apartment
For Sale
$765,000
Pending
123 W Cedar St, Elko, NV 89801
Landscaped residential income property with covered parking and a detached garage.
Property Size5,184 SF
Days on Market64
Property Features for 123 W Cedar St
General Information
Standard status
Pending
Size
5,184 SF
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,071
Listing Agency:
Elko Realty
(775) 777-3556
Listed By:
Christina Pemelton · License #B.0146152.LLC
(775) 397-3695
Source:
Exprealty
Added: Aug 7
Changed: Sep 12
Last Checked: Oct 7 at 3:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Elko Realty
Investment Insights
Based on property information with market context.
This four-unit apartment property contains 5,184 square feet across four apartments, each measuring 1,296 square feet. Every unit includes two bedrooms and either one or 1.5 bathrooms. The improvements also include three carports and an 840-square-foot detached garage.
The grounds at 123 W Cedar St in Elko, NV, feature grass, mature trees, and an automatic sprinkler system. Utility responsibilities are divided between the occupants and ownership: residents handle electric and gas, while water is paid by the landlord.
The grounds at 123 W Cedar St in Elko, NV, feature grass, mature trees, and an automatic sprinkler system. Utility responsibilities are divided between the occupants and ownership: residents handle electric and gas, while water is paid by the landlord.
Key Highlights
- Four apartments, each with 1,296 square feet, two bedrooms, and one or 1.5 bathrooms
- 5,184‑square‑foot apartment property at 123 W Cedar St, Elko, NV 89801
- Three carports plus an 840‑square‑foot detached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,294
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
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
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 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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Landscaped residential income property with covered parking and a detached garage.
Where is this quadplex located?
The property is located at 123 W Cedar St 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, each with 1,296 square feet, two bedrooms, and one or 1.5 bathrooms; 5,184‑square‑foot apartment property at 123 W Cedar St, Elko, NV 89801; Three carports plus an 840‑square‑foot detached garage
