Remodeled
New
For Sale
$670,000
1601 Cordoba Ln, Las Vegas, NV 89108
Four-unit residential property with two remodeled units and HOA-maintained grounds.
Property Size3,720 SF
Days on Market3
Property Features for 1601 Cordoba Ln
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1.5BA, 2 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,091
Building Details
Building Size
3,720 SF
Year Built
1978
Stories
2
Units
4
Listing Agency:
Simply Vegas
Listed By:
Lisa A. Wilson · License #S.0044788
(702) 497-2665
Source:
Elliman
Added: Sep 13
Last Checked: Sep 15 at 7:36AM
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 Simply Vegas
Investment Insights
Based on property information with market context.
This four-unit residential property was built in 1978 and includes a consistent two-bedroom layout across the building. The two upper-level residences each have 2 bedrooms and 1.5 bathrooms, while the two ground-floor residences each provide 2 bedrooms and 1 bathroom. Two of the units have been remodeled.
All four units are occupied, with three leases on a month-to-month basis and one under a one-year agreement. The HOA maintains the grounds. The property is located near a freeway and golf course at 1601 Cordoba Ln in Las Vegas, Nevada. Walk Score is 60, Bike Score is 44, and Transit Score is 38.
All four units are occupied, with three leases on a month-to-month basis and one under a one-year agreement. The HOA maintains the grounds. The property is located near a freeway and golf course at 1601 Cordoba Ln in Las Vegas, Nevada. Walk Score is 60, Bike Score is 44, and Transit Score is 38.
Key Highlights
- Four‑unit property built in 1978
- All units occupied; three are month‑to‑month and one has a one‑year contract
- Two upper units offer 2 BDRM and 1.5 BTH each
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
7.30%
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 7.30%
Second Best
Apartment 5plus
$626.4K
$548.1K – $730.8K
NOI $43,850 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,129 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
711
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
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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 - Four-unit residential property with two remodeled units and HOA-maintained grounds.
Where is this quadplex located?
The property is located at 1601 Cordoba Ln Las Vegas, NV.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Four‑unit property built in 1978; All units occupied; three are month‑to‑month and one has a one‑year contract; Two upper units offer 2 BDRM and 1.5 BTH each
