Four-Unit Residential Income
For Sale
$665,000
1721 Cordoba Ln, Las Vegas, NV 89108
Well-maintained four-unit property with two two-story units and two single-level units, all currently occupied on month-to-month terms.
Property Size3,720 SF
Days on Market76
Property Features for 1721 Cordoba Ln
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Multi Family
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,091
Building Details
Building Size
3,720 SF
Year Built
1978
Stories
2
Units
4
Listing Agency:
Cofield Real Estate
(702) 743-6408
Listed By:
Janice Cofield · License #S.0050457
(702) 743-6408
Source:
Elliman
Added: Jun 15
Changed: Aug 16
Last Checked: Aug 26 at 10:19AM
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 Cofield Real Estate
Investment Insights
Based on property information with market context.
This for-sale four-unit residential income building is presented in well-maintained condition and includes two spacious two-story units plus two single-level units. All four units are currently occupied by long-term tenants, providing an in-place rental setup for an owner. Tenant agreements are month-to-month, which offers flexibility for the future while maintaining current occupancy.
The property is located at 1721 Cordoba Ln in Las Vegas, NV 89108. The public remarks describe convenient access to nearby shopping centers and schools, as well as major freeway access. It is also noted to be near the Muni Golf Course.
For buyers seeking a multi-unit asset with established tenancy already in place, this configuration can support straightforward management across four residential units. Month-to-month arrangements may appeal to buyers who value operational flexibility, while the existing occupancy helps avoid vacancy risk at the time of acquisition. Please do not disturb the tenants.
The property is located at 1721 Cordoba Ln in Las Vegas, NV 89108. The public remarks describe convenient access to nearby shopping centers and schools, as well as major freeway access. It is also noted to be near the Muni Golf Course.
For buyers seeking a multi-unit asset with established tenancy already in place, this configuration can support straightforward management across four residential units. Month-to-month arrangements may appeal to buyers who value operational flexibility, while the existing occupancy helps avoid vacancy risk at the time of acquisition. Please do not disturb the tenants.
Key Highlights
- Well‑maintained 4‑unit building built in 1978
- Two two‑story units plus two single‑level units
- All units are currently occupied by long‑term tenants
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
$48,878
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
7.35%
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%
$977,560
$977.6K
Cap Rate 7%
$698,257
$698.3K
Cap Rate 9%
$543,089
$543.1K
Market Conditions
NOI Build-Up for 3,720 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
$73.7K $19.80/SF
− Vacancy
−$3.8K −$1.03/SF
EGI
$69.8K $18.77/SF
− OpEx
−$20.9K −$5.63/SF
NOI
$48.9K $13.14/SF
Area
ZIP 89108
Vacancy
5.20%
Lease Rate
$19.80 /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%
$977,560
Cap Rate 7%
$698,257
Cap Rate 9%
$543,089
Alternative Uses
Best Use
Multifamily LT 5
$698.3K
$611.0K – $814.6K
NOI $48,878 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$626.4K
$548.1K – $730.8K
NOI $43,850 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,129 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Explore this area
Business Placement
Demographics for 89108, NV
73,637
Population
28,377
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
80%
High-School Grad
8.9 sq mi
ZIP Area
8,274
Density / Sq Mi
$57,403
Median Household Income
$36,383
Median Earnings
$1,431
Median Rent
$304,400
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 - Well-maintained four-unit property with two two-story units and two single-level units, all currently occupied on month-to-month terms.
Where is this quadplex located?
The property is located at 1721 Cordoba Ln Las Vegas, NV.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Well‑maintained 4‑unit building built in 1978; Two two‑story units plus two single‑level units; All units are currently occupied by long‑term tenants
