Six-Unit Apartment
For Sale
$724,900
1967 Linn Lane, Las Vegas, NV 89156
Gated six-unit apartment property built in 1963 with a mix of studio and two-bedroom units.
Property Size3,008 SF
Lot Size0.19 Acres
Days on Market24
Property Features for 1967 Linn Lane
General Information
Standard status
Active
Size
3,008 SF
Lot size
0.19 Acres
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA, 2 x studio
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$811
Amenities
gated property
Building Details
Building Size
3,008 SF
Year Built
1963
Listing Agency:
Rothwell Gornt Companies
(702) 217-1048
Listed By:
Ryan Crighton · License #BS.0000254
(702) 217-1048
Source:
Usarealty
Added: Jul 20
Changed: Aug 8
Last Checked: Aug 11 at 1:00PM
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 Rothwell Gornt Companies
Investment Insights
Based on property information with market context.
Six-unit apartment building featuring four two-bedroom, one-bath units and two studio units. The property is gated, providing added resident security, and includes a generous 8,276-square-foot lot that supports outdoor space.
Built in 1963, the asset is positioned with easy access to Lake Mead Blvd and nearby shopping destinations, while maintaining a quiet residential setting.
For buyers evaluating residential income housing, the unit mix provides flexibility for different renter profiles, with studio units alongside the four two-bedroom, one-bath options. The property’s gated setup and outdoor area can support day-to-day tenant appeal within a small multifamily configuration.
Built in 1963, the asset is positioned with easy access to Lake Mead Blvd and nearby shopping destinations, while maintaining a quiet residential setting.
For buyers evaluating residential income housing, the unit mix provides flexibility for different renter profiles, with studio units alongside the four two-bedroom, one-bath options. The property’s gated setup and outdoor area can support day-to-day tenant appeal within a small multifamily configuration.
Key Highlights
- Six units with four two‑bedroom, one‑bath units and two studio units
- Gated property for added resident security
- 8,276‑square‑foot lot with outdoor space
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
$31,995
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
4.41%
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%
$639,900
$639.9K
Cap Rate 7%
$457,071
$457.1K
Cap Rate 9%
$355,500
$355.5K
Market Conditions
NOI Build-Up for 3,008 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
$61.4K $20.40/SF
− Vacancy
−$3.2K −$1.06/SF
EGI
$58.2K $19.34/SF
− OpEx
−$26.2K −$8.70/SF
NOI
$32.0K $10.64/SF
Area
Las Vegas, NV
Vacancy
5.20%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$639,900
Cap Rate 7%
$457,071
Cap Rate 9%
$355,500
Alternative Uses
Best Use
Apartment 5plus
$457.1K
$399.9K – $533.3K
NOI $31,995 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.04M
$909.5K – $1.21M
NOI $72,757 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 89156, NV
30,067
Population
10,413
Households
2.9
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
44.7 sq mi
ZIP Area
673
Density / Sq Mi
$69,783
Median Household Income
$36,342
Median Earnings
$1,354
Median Rent
$288,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Gated six-unit apartment property built in 1963 with a mix of studio and two-bedroom units.
Where is this apartment building located?
The property is located at 1967 Linn Lane Las Vegas, NV.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Six units with four two‑bedroom, one‑bath units and two studio units; Gated property for added resident security; 8,276‑square‑foot lot with outdoor space
