Four-Unit Quadplex with Remodeled
New
For Sale
$670,000
1601 Cordoba Lane, Las Vegas, NV 89108
Residential, Las Vegas, NV
Property Size3,720 SF
Lot Size0.27 Acres
Price / SF$180.11
Days on Market2
Property Features for 1601 Cordoba Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Dishwasher, Oven, Range, Refrigerator
Subdivision
Wildwood Manor
Elementary school
,
Directions
US-95/DecaturNorth on DecaturEast on Vegas Dr*North on Cordoba Ln to property.
Standard status
Active
APN
139-19-410-015
Size
3,720 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
3091
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1978
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
Simply Vegas
(702) 568-6800
Listed By:
Lisa A. Wilson · License #S.0044788
(702) 497-2665
Added: Sep 12
Last Checked: Sep 13 at 1:06AM
MLS# 2817118
Copyright © 2026 Las Vegas 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 3,720-square-foot quadplex at 1601 Cordoba Lane includes four two-bedroom residences on a 0.27-acre lot. The two upper-level units each have 1.5 bathrooms, while the two ground-level units each have one bathroom. Two residences have been remodeled. Interior features include ceiling fans, window treatments, tile flooring, central air, and natural-gas central heating. Each unit is equipped with a dishwasher, oven, range, and refrigerator.
All four units are occupied, with three leases on a month-to-month basis and one annual lease. The HOA maintains the grounds. The property was built in 1978 and is served by public water and public sewer. Tile roofing and stucco construction complete the exterior improvements. The property is near a freeway and a golf course in Las Vegas, Nevada.
All four units are occupied, with three leases on a month-to-month basis and one annual lease. The HOA maintains the grounds. The property was built in 1978 and is served by public water and public sewer. Tile roofing and stucco construction complete the exterior improvements. The property is near a freeway and a golf course in Las Vegas, Nevada.
Key Highlights
- Four‑unit quadplex with 3,720 square feet on 0.27 acres
- Two upper‑level units feature 2 BDRM and 1.5 BTH layouts
- Two ground‑level units offer 2 BDRM and 1 BTH layouts
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
Check the figures for this property
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 - Fully occupied quadplex with a two-bedroom unit mix, public utilities, and HOA-maintained grounds.
Where is this quadplex located?
The property is located at 1601 Cordoba Lane 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 quadplex with 3,720 square feet on 0.27 acres; Two upper‑level units feature 2 BDRM and 1.5 BTH layouts; Two ground‑level units offer 2 BDRM and 1 BTH layouts
