Remodeled Quadplex with
New
For Sale
$650,000
1620 Cordoba Ln, Las Vegas, NV 89108
Four residential units feature refreshed interiors, private storage, and shared laundry facilities.
Property Size3,720 SF
Price / SF$174.73
Days on Market3
Property Features for 1620 Cordoba Ln
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Homesmart Encore
(702) 930-3299
Listed By:
Xander Shaw · License #BS.1000611
(702) 930-3299
Source:
Lasvegaspenthouses
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 26 at 12:44PM
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 Homesmart Encore
Investment Insights
Based on property information with market context.
This 4-plex contains four residential units, each updated with newer kitchen cabinetry and finishes, remodeled bathrooms, and newer flooring. Every unit also has its own separate storage area. The property includes a shared laundry area serving the building; the existing washer and dryer are non-operational and convey as-is, where-is.
Building improvements include newer HVAC systems and a newer roof. Constructed in 1978, the property is located at 1620 Cordoba Lane in Las Vegas, Nevada.
Building improvements include newer HVAC systems and a newer roof. Constructed in 1978, the property is located at 1620 Cordoba Lane in Las Vegas, Nevada.
Key Highlights
- Four‑unit quadplex at 1620 Cordoba Lane in Las Vegas, NV 89108
- Each unit has a remodeled kitchen, bathroom, and flooring
- Separate storage area provided for every unit
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
7.52%
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 7.52%
Second Best
Apartment 5plus
$626.4K
$548.1K – $730.8K
NOI $43,850 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,129 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
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 residential units feature refreshed interiors, private storage, and shared laundry facilities.
Where is this quadplex located?
The property is located at 1620 Cordoba Ln Las Vegas, NV.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four‑unit quadplex at 1620 Cordoba Lane in Las Vegas, NV 89108; Each unit has a remodeled kitchen, bathroom, and flooring; Separate storage area provided for every unit
