Remodeled Quadplex with
New
For Sale
$650,000
1620 Cordoba Lane, Las Vegas, NV 89108
Residential, Las Vegas, NV
Property Size3,720 SF
Lot Size0.23 Acres
Price / SF$174.73
Days on Market1
Property Features for 1620 Cordoba Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Dishwasher, Microwave, Oven, Range, Refrigerator
Subdivision
Wildwood Manor
Elementary school
,
Directions
North on Decatur from 95, east on Vegas Drive, turn left onto Cordoba Lane.....
Standard status
Active
APN
139-19-410-021
Size
3,720 SF
Lot size
0.23 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
Amenities
storage area
laundry area
Building Details
Year built
1978
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Tile
Building materials
Stucco
Roof type
Tile, Flat
Architectural style
Other
Listing Agency:
Western Realty
(725) 204-1177
Listed By:
John W. Bostedt · License #BS.1000611
(702) 526-6741
Added: Aug 24
Last Checked: Aug 24 at 11:06PM
MLS# 2811739
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 four-unit residential property contains 3,720 square feet on a 0.23-acre lot. Each residence has updated kitchen and bathroom areas, newer flooring, ceiling fans, window treatments, and a patio. Appliances include a dishwasher, microwave, oven, range, and refrigerator. Vinyl and tile flooring are used throughout, with central heating and cooling supported by natural gas and central air. The building was constructed in 1978 and features stucco construction with tile and flat roof sections.
Located at 1620 Cordoba Lane in Las Vegas, the property is served by public water and public sewer. Each unit includes a separate storage area, while the building has a dedicated laundry area. The existing washer and dryer are nonfunctional and convey as-is, where-is. The building also has newer HVAC equipment and a newer roof.
Located at 1620 Cordoba Lane in Las Vegas, the property is served by public water and public sewer. Each unit includes a separate storage area, while the building has a dedicated laundry area. The existing washer and dryer are nonfunctional and convey as-is, where-is. The building also has newer HVAC equipment and a newer roof.
Key Highlights
- Four‑unit property totaling 3,720 square feet
- Situated on a 0.23‑acre lot at 1620 Cordoba Lane
- Individual storage areas provided for each 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 - Updated units provide individual storage areas, shared laundry space, and refreshed interior finishes.
Where is this quadplex located?
The property is located at 1620 Cordoba Lane 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 property totaling 3,720 square feet; Situated on a 0.23‑acre lot at 1620 Cordoba Lane; Individual storage areas provided for each unit
