Four-Unit Quadplex with Detached
New
For Sale
$765,000
123 W Cedar Street, Elko, NV 89801
MULTI_FAMILY - Other - Elko, NV
Property Size5,184 SF
Lot Size0.23 Acres
Price / SF$147.57
Days on Market2
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, Bathroom 1, Bathroom 5, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 8, Bedroom 4, Bedroom 7, Bedroom 1, Bedroom 6, Bathroom 4, Bathroom 3
Exterior features
Balcony, SprinklerIrrigation, Landscaping
Appliances
Dishwasher, ElectricOven, ElectricRange, GasWaterHeater, Refrigerator
Subdivision
First Addition
Lot features
Landscaped, Sprinklers Automatic
Standard status
Active
APN
001-095-008
Size
5,184 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
4071
Utilities
Heating system
Natural Gas, Forced Air
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
Last Checked: Aug 8 at 10:06PM
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.
Investment Insights
Based on property information with market context.
This 1986 quadplex contains four apartment units, each measuring 1,296 square feet and offering two bedrooms with either one or 1.5 bathrooms. Interior features include vinyl and carpet flooring, dishwashers, electric ranges, refrigerators, gas water heaters, natural-gas forced-air heating, and window-unit cooling. Balconies and wood siding add to the building's physical profile.
The 0.23-acre property includes three carports, an 840-square-foot detached garage, grass, mature trees, and an automatic sprinkler system. Public water serves the property, while tenants pay electric and gas expenses and the landlord pays for water. The site is located in Elko, Nevada, within ZIP Code 89801.
The 0.23-acre property includes three carports, an 840-square-foot detached garage, grass, mature trees, and an automatic sprinkler system. Public water serves the property, while tenants pay electric and gas expenses and the landlord pays for water. The site is located in Elko, Nevada, within ZIP Code 89801.
Key Highlights
- Four apartment units, each with 1,296 square feet and two bedrooms
- Unit bathrooms are configured as either one or 1.5 bathrooms
- 840‑square‑foot detached garage included
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
981
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 two-bedroom apartments with landscaped grounds, covered parking, and a separate garage for added storage or utility space.
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 apartment units, each with 1,296 square feet and two bedrooms; Unit bathrooms are configured as either one or 1.5 bathrooms; 840‑square‑foot detached garage included
