6-Unit Apartment
New
For Sale
$689,000
1967 Linn Ln, Las Vegas, NV 89156
Gated multifamily property with four two-bedroom units and two studio residences.
Property Size3,008 SF
Lot Size0.19 Acres
Days on Market4
Property Features for 1967 Linn Ln
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
Building Details
Building Size
3,008 SF
Year Built
1963
Stories
1
Units
4
Listing Agency:
Rothwell Gornt Companies
Listed By:
Ryan Crighton · License #BS.0000254
(702) 217-1048
Source:
Elliman
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 12 at 8:33AM
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.
This multifamily property contains 6 units in a gated residential setting. The unit mix includes four two-bedroom, one-bathroom apartments along with two separate studio units, providing varied residential configurations within one property. Built in 1963, the asset occupies an 8,276 square foot lot with outdoor space surrounding the improvements.
The property is located at 1967 Linn Ln in Las Vegas, Nevada, with access to Lake Mead Blvd and nearby shopping destinations. Walk Score is 28, BikeScore is 38, and Transit Score is 30, reflecting a car-dependent setting with some transit and bike access.
The property is located at 1967 Linn Ln in Las Vegas, Nevada, with access to Lake Mead Blvd and nearby shopping destinations. Walk Score is 28, BikeScore is 38, and Transit Score is 30, reflecting a car-dependent setting with some transit and bike access.
Key Highlights
- 6‑unit apartment property with four two‑bedroom units and two studio units
- Four apartments configured with two bedrooms and one bathroom each
- Gated residential property
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
4.64%
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 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.04M
$909.5K – $1.21M
NOI $72,757 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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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?
Apartment building - Gated multifamily property with four two-bedroom units and two studio residences.
Where is this apartment building located?
The property is located at 1967 Linn Ln Las Vegas, NV.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: 6‑unit apartment property with four two‑bedroom units and two studio units; Four apartments configured with two bedrooms and one bathroom each; Gated residential property
