Updated 4-Plex with
For Sale
$842,000
Pending
6208 Ilanos Ln, Las Vegas, NV 89108
Well-maintained 4-plex with a side courtyard, in-unit laundry, and paid-off solar for lower ongoing operational costs.
Property Size3,952 SF
Days on Market62
Property Features for 6208 Ilanos Ln
General Information
Standard status
Pending
Size
3,952 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,120
Building Details
Building Size
3,952 SF
Year Built
1985
Stories
2
Units
4
Listing Agency:
(702) 416-8789
Listed By:
Daniel Valenzuela
(702) 416-8789
Source:
Elliman
Added: Jun 25
Changed: Aug 8
Last Checked: Jul 23 at 11:50AM
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 Daniel Valenzuela
Investment Insights
Based on property information with market context.
This well-maintained 4-plex includes a spacious side courtyard and a backyard storage shed, with recent exterior updates including paint. Major improvements noted in the offering include solar panels that are paid off, a new roof, and new balcony awnings. The units include fireplaces and ceiling fans in each room, and each unit comes with new appliances and in-unit washer and dryer.
Downstairs units are configured as 3-bedroom layouts. The property also includes hard-wired provisions for a TV antenna and provides 2 dedicated parking spaces for each unit. An AC unit for unit #A is also noted. Buyer to verify all information and measurements.
Conveniently located with quick access to Summerlin amenities, shopping, dining, schools, public transportation, and major freeway access, the property is suited to investors seeking an income-producing residential income asset or an owner-occupant looking for a multi-unit setup. No HOA is noted, and the combination of in-unit features and recent system upgrades may support smoother day-to-day operations.
Downstairs units are configured as 3-bedroom layouts. The property also includes hard-wired provisions for a TV antenna and provides 2 dedicated parking spaces for each unit. An AC unit for unit #A is also noted. Buyer to verify all information and measurements.
Conveniently located with quick access to Summerlin amenities, shopping, dining, schools, public transportation, and major freeway access, the property is suited to investors seeking an income-producing residential income asset or an owner-occupant looking for a multi-unit setup. No HOA is noted, and the combination of in-unit features and recent system upgrades may support smoother day-to-day operations.
Key Highlights
- Well‑maintained 4‑plex built in 1985 with a side courtyard and ample outdoor space
- Fully paid‑off solar panels and recently painted exterior to help reduce ongoing operational/maintenance costs
- Major improvements include a new roof and new balcony awnings
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
$51,926
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
6.17%
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%
$1,038,520
$1.0M
Cap Rate 7%
$741,800
$741.8K
Cap Rate 9%
$576,956
$577.0K
Market Conditions
NOI Build-Up for 3,952 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
$78.2K $19.80/SF
− Vacancy
−$4.1K −$1.03/SF
EGI
$74.2K $18.77/SF
− OpEx
−$22.3K −$5.63/SF
NOI
$51.9K $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%
$1,038,520
Cap Rate 7%
$741,800
Cap Rate 9%
$576,956
Alternative Uses
Best Use
Multifamily LT 5
$741.8K
$649.1K – $865.4K
NOI $51,926 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$665.5K
$582.3K – $776.4K
NOI $46,585 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,625 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
699
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 - Well-maintained 4-plex with a side courtyard, in-unit laundry, and paid-off solar for lower ongoing operational costs.
Where is this quadplex located?
The property is located at 6208 Ilanos Ln Las Vegas, NV.
What is the asking price?
The asking price for this property is $842,000.
What are key features of this property?
This property features: Well‑maintained 4‑plex built in 1985 with a side courtyard and ample outdoor space; Fully paid‑off solar panels and recently painted exterior to help reduce ongoing operational/maintenance costs; Major improvements include a new roof and new balcony awnings
