Four-Unit Multifamily Property Near
For Sale
$659,900
4650 Koval 14 Lane, Las Vegas, NV 89109
Residential, Las Vegas, NV
Property Size5,171 SF
Lot Size0.09 Acres
Price / SF$127.62
Days on Market77
Property Features for 4650 Koval 14 Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Covered
Window features
Blinds
Interior features
Window Treatments
Appliances
Dryer, Dishwasher, Exhaust Fan, Disposal, Gas Water Heater, Microwave, Oven, Range, Refrigerator, Range Hood, Washer
Subdivision
International Villas
Elementary school
,
Directions
From Las Vegas Blvd, go east on Tropicana. Turn left onto Koval Lane, then turn right into the International Villas Community and proceed to Building 14.
Standard status
Active
APN
162-21-713-005
Size
5,171 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
3390
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
pool
courtyard
covered parking
Building Details
Year built
1978
Floors in Building
2
Number of units
4
Flooring type
Tile, Vinyl
Building materials
Stucco
Roof type
Tile, Flat, Composition, Shingle
Architectural style
Other
Listing Agency:
eProNet Realty
Listed By:
Joseph Y. Lee · License #B.0066266
(702) 373-2589
Added: Jun 24
Changed: Sep 3
Last Checked: Sep 8 at 7:06PM
MLS# 2794497
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 multifamily property contains 12 bedrooms and 7 full bathrooms within 5,171 square feet across two stories. Unit kitchens include stoves, dishwashers, refrigerators, washers, and dryers, while two units are furnished. Interior finishes include drywall, tile, vinyl, wood-look, and hardwood flooring, with window treatments throughout. Central heating and cooling serve the building.
The property sits on a 0.09-acre site directly across from MGM Casino, with the Las Vegas Strip described as walkable. Exterior features include a courtyard, covered parking, and access to a community pool. Constructed in 1978, the property connects to public water and public sewer and has stucco construction with composition, tile, shingle, and flat roof elements.
The property sits on a 0.09-acre site directly across from MGM Casino, with the Las Vegas Strip described as walkable. Exterior features include a courtyard, covered parking, and access to a community pool. Constructed in 1978, the property connects to public water and public sewer and has stucco construction with composition, tile, shingle, and flat roof elements.
Key Highlights
- Four individual units with 12 bedrooms and 7 full bathrooms
- 5,171 square feet of living space across two stories
- Two units furnished; all kitchens include stoves, dishwashers, refrigerators, washers, and dryers
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
$59,519
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
9.02%
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%
$1,190,380
$1.2M
Cap Rate 7%
$850,271
$850.3K
Cap Rate 9%
$661,322
$661.3K
Market Conditions
NOI Build-Up for 5,171 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
$90.0K $17.40/SF
− Vacancy
−$4.9K −$0.96/SF
EGI
$85.0K $16.44/SF
− OpEx
−$25.5K −$4.93/SF
NOI
$59.5K $11.51/SF
Area
Las Vegas, NV
Vacancy
5.50%
Lease Rate
$17.40 /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%
$1,190,380
Cap Rate 7%
$850,271
Cap Rate 9%
$661,322
Alternative Uses
Best Use
Multifamily LT 5
$850.3K
$744.0K – $992.0K
NOI $59,519 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$785.7K
$687.5K – $916.7K
NOI $55,002 @ 7.0% cap · market cap 8.33%
Theoretical Best
Specialty Retail
$1.79M
$1.56M – $2.08M
NOI $125,076 @ 7.0% cap · market cap 18.95%
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
1,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 89109, NV
7,728
Population
12,053
Households
0.6
Avg Household Size
47
Median Age
38%
College-Educated
92%
High-School Grad
4.1 sq mi
ZIP Area
1,885
Density / Sq Mi
$54,917
Median Household Income
$55,296
Median Earnings
$1,208
Median Rent
$494,800
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 - Two-story residential income property with a courtyard, covered parking, community pool, and appliances in every unit.
Where is this quadplex located?
The property is located at 4650 Koval 14 Lane Las Vegas, NV.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Four individual units with 12 bedrooms and 7 full bathrooms; 5,171 square feet of living space across two stories; Two units furnished; all kitchens include stoves, dishwashers, refrigerators, washers, and dryers
