Quadplex with Separate
For Sale
$669,900
1709 Cordoba Lane, Las Vegas, NV 89108
Four-unit property with varied lease terms, updated plumbing, and access to bus routes near Decatur and Vegas Dr.
Property Size3,720 SF
Days on Market16
Property Features for 1709 Cordoba Lane
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,091
Amenities
laundry room
separate storage area
Building Details
Building Size
3,720 SF
Year Built
1978
Buildings
1
Listing Agency:
Raintree Real Estate
(717) 574-2719
Listed By:
Robert Andy Stahl · License #B.0144071
(717) 574-2719
Source:
Vicerealtygroup
Added: Aug 13
Changed: Aug 25
Last Checked: Aug 26 at 2:52PM
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 Raintree Real Estate
Investment Insights
Based on property information with market context.
This 1978 quadplex contains four rented units, including two that have been renovated. The building was recently re-plumbed, and a fire inspection was completed in Dec 2025. Each residence has its own storage area at the west end of the building, while the property also includes a shared laundry room.
Lease terms are staggered, with two units operating on a month-to-month basis and two having a few months remaining before renewal. Tenants cover utilities, while the landlord pays for laundry room and water expenses. The property is located near bus routes on Decatur and Vegas Dr in Las Vegas, with walk, bike, and transit scores of 44, 43, and 44, respectively.
Lease terms are staggered, with two units operating on a month-to-month basis and two having a few months remaining before renewal. Tenants cover utilities, while the landlord pays for laundry room and water expenses. The property is located near bus routes on Decatur and Vegas Dr in Las Vegas, with walk, bike, and transit scores of 44, 43, and 44, respectively.
Key Highlights
- Four units currently rented
- Two units have been renovated
- Recently re‑plumbed throughout the building
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 6.55%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,129 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
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 - Four-unit property with varied lease terms, updated plumbing, and access to bus routes near Decatur and Vegas Dr.
Where is this quadplex located?
The property is located at 1709 Cordoba Lane Las Vegas, NV.
What is the asking price?
The asking price for this property is $669,900.
What are key features of this property?
This property features: Four units currently rented; Two units have been renovated; Recently re‑plumbed throughout the building
