Updated
For Sale
$399,900
706 Dike Lane, Las Vegas, NV 89106
Each residence has access to on-site and street parking, with sewer plumbing that may support an RV hookup.
Property Size1,982 SF
Days on Market14
Property Features for 706 Dike Lane
General Information
Standard status
Active
Size
1,982 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,578
Building Details
Building Size
1,982 SF
Year Built
1953
Buildings
1
Listing Agency:
Keller Williams MarketPlace
Listed By:
Denny Seybert · License #S.0049671
(702) 499-9947
Source:
Vicerealtygroup
Added: Sep 23
Changed: Oct 5
Last Checked: Oct 5 at 10:15PM
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 Keller Williams MarketPlace
Investment Insights
Based on property information with market context.
Built in 1953, this duplex has two residences with luxury vinyl plank flooring, stainless steel appliances, and refreshed interior paint. Both units have access to on-site and street parking. Sewer plumbing is also present for a potential RV hookup.
The property is near downtown Las Vegas, the Strip, convention centers, shopping, dining, and freeway access.
The property is near downtown Las Vegas, the Strip, convention centers, shopping, dining, and freeway access.
Key Highlights
- Two‑unit duplex built in 1953
- Luxury vinyl plank flooring, stainless steel appliances, and fresh interior paint
- On‑site and street parking available to both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,813
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,260
$456.3K
Cap Rate 7%
$325,900
$325.9K
Cap Rate 9%
$253,478
$253.5K
Market Conditions
NOI Build-Up for 1,982 SF
Gross rent
$34.5K $17.40/SF
− Vacancy
−$1.9K −$0.96/SF
EGI
$32.6K $16.44/SF
− OpEx
−$9.8K −$4.93/SF
NOI
$22.8K $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 Rate 5%
$456,260
Cap Rate 7%
$325,900
Cap Rate 9%
$253,478
Alternative Uses
Best Use
Multifamily LT 5
$325.9K
$285.2K – $380.2K
NOI $22,813 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$301.2K
$263.5K – $351.4K
NOI $21,082 @ 7.0% cap · market cap 5.27%
Theoretical Best
Specialty Retail
$684.9K
$599.3K – $799.0K
NOI $47,941 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 89106, NV
27,695
Population
10,906
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
73%
High-School Grad
5.1 sq mi
ZIP Area
5,430
Density / Sq Mi
$38,848
Median Household Income
$31,265
Median Earnings
$1,169
Median Rent
$263,100
Median Home Value
Check the figures for this property
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?
Duplex - Each residence has access to on-site and street parking, with sewer plumbing that may support an RV hookup.
Where is this duplex located?
The property is located at 706 Dike Lane Las Vegas, NV.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1953; Luxury vinyl plank flooring, stainless steel appliances, and fresh interior paint; On‑site and street parking available to both units
