Quadplex with Detached
123 W Cedar Street, Elko, NV 89801
For Sale
$765,000
Pending
ResidentialIncome, Elko, NV
Property Size5,184 SF
Lot Size0.23 Acres
Days on Market94
Property Features for 123 W Cedar Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Exterior features
Appliances
Subdivision
Lot features
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Elko Realty
(775) 777-3556
Listed By:
Christina Pemelton · License #B.0146152.LLC
(775) 397-3695
Added: Aug 7
Changed: Oct 27
Last Checked: Nov 8 at 4:06PM
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.
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Investment Insights
Based on property information with market context.
This 1986 quadplex in Elko contains four apartments, each measuring 1,296 square feet and configured with two bedrooms and either one or one-and-a-half bathrooms. The property includes an 840-square-foot detached garage and three carports. Balconies, landscaped grounds, and an automatic sprinkler system are also present.
The 0.23-acre property is at 123 W Cedar Street. Residents pay their own electric and gas costs, while the owner covers water. Building features include forced-air natural gas heating and window-unit cooling.
The 0.23-acre property is at 123 W Cedar Street. Residents pay their own electric and gas costs, while the owner covers water. Building features include forced-air natural gas heating and window-unit cooling.
Key Highlights
- Four apartments, each 1,296 square feet, with two bedrooms and 1 or 1.5 bathrooms
- Detached 840‑square‑foot garage and three carports
- 0.23‑acre parcel at 123 W Cedar Street in Elko
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.
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Who owns this building?
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,030
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments share landscaped grounds with 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, each 1,296 square feet, with two bedrooms and 1 or 1.5 bathrooms; Detached 840‑square‑foot garage and three carports; 0.23‑acre parcel at 123 W Cedar Street in Elko
