6-Unit Apartment
For Sale
$724,900
1967 Linn Lane, Las Vegas, NV 89156
Residential, Las Vegas, NV
Property Size3,008 SF
Lot Size0.19 Acres
Price / SF$240.99
Days on Market51
Property Features for 1967 Linn Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Oven, Range
Elementary school
,
Directions
East on Lake Mead. Lake Mead and Nellis
Standard status
Active
APN
140-21-702-004
Size
3,008 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
811
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
gated property
Building Details
Year built
1963
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
Stucco, Wood Frame
Architectural style
Other
Listing Agency:
Rothwell Gornt Companies
(702) 932-8813
Listed By:
Ryan Crighton · License #BS.0000254
(702) 217-1048
Added: Jul 20
Changed: Aug 19
Last Checked: Sep 8 at 2:06PM
MLS# 2801737
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 6-unit apartment building contains four two-bedroom, one-bathroom residences and two studio units within a 3,008-square-foot property. Built in 1963, the building features stucco and wood-frame construction, tile flooring, central heating, central air conditioning, and electric heat. Public water and public sewer serve the property, with ovens and ranges included.
The 0.19-acre parcel is gated and includes outdoor space. The property is located in Las Vegas near Lake Mead Blvd and area shopping destinations.
The 0.19-acre parcel is gated and includes outdoor space. The property is located in Las Vegas near Lake Mead Blvd and area shopping destinations.
Key Highlights
- 6 units: four 2‑bedroom, 1‑bath units and two studios
- 3,008‑square‑foot apartment building on a 0.19‑acre lot
- Gated property 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
Yes
Fenced yard
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 multifamily property with a mix of two-bedroom and studio residences.
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: 6 units: four 2‑bedroom, 1‑bath units and two studios; 3,008‑square‑foot apartment building on a 0.19‑acre lot; Gated property with outdoor space
