Four-Unit Residential Income
For Sale
$555,000
1872 Cosmic Drive, Las Vegas, NV 89115
MULTI_FAMILY - Other - Las Vegas, NV
Property Size3,212 SF
Lot Size0.16 Acres
Price / SF$172.79
Days on Market35
Property Features for 1872 Cosmic Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Dryer, Dishwasher, Disposal, Refrigerator, Washer
Subdivision
Lake Mead Villas
Elementary school
,
Directions
W on Lake Mead from Lamb, S on Dwarf Star
Standard status
Active
APN
140-19-712-013
Size
3,212 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2670
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
2
Number of units
4
Flooring type
Tile, Vinyl
Building materials
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 9
Changed: Jul 28
Last Checked: Aug 12 at 1:06AM
MLS# 2798939
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 residential income property was built in 1986 and consists of four spacious 2-bedroom, 1-bath units. Each unit includes a large living room with a fireplace, a dining area off the kitchen, and a private laundry room. Appliances are included, with each unit provided a refrigerator, washer, dryer, and dishwasher. The property also features recent updates.
Set within Lake Mead Villas, a well-maintained planned community with mature landscaping and pool and spa amenities, the community is described as being located in Northeast Las Vegas near Nellis AFB, schools, and public transit.
HOA fees cover trash, sewer, exterior upkeep, roof, landscaping, common utilities, and pool/spa access.
Set within Lake Mead Villas, a well-maintained planned community with mature landscaping and pool and spa amenities, the community is described as being located in Northeast Las Vegas near Nellis AFB, schools, and public transit.
HOA fees cover trash, sewer, exterior upkeep, roof, landscaping, common utilities, and pool/spa access.
Key Highlights
- Planned community property built in 1986 with mature landscaping, pool, and spa
- Four units with 2 bedrooms and 1 bath each, totaling 3,212 SF
- Each unit includes a refrigerator, washer, dryer, dishwasher, and private laundry room
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
$34,530
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
6.22%
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%
$690,600
$690.6K
Cap Rate 7%
$493,286
$493.3K
Cap Rate 9%
$383,667
$383.7K
Market Conditions
NOI Build-Up for 3,212 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
$52.0K $16.20/SF
− Vacancy
−$2.7K −$0.84/SF
EGI
$49.3K $15.36/SF
− OpEx
−$14.8K −$4.61/SF
NOI
$34.5K $10.75/SF
Area
ZIP 89115
Vacancy
5.20%
Lease Rate
$16.20 /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%
$690,600
Cap Rate 7%
$493,286
Cap Rate 9%
$383,667
Alternative Uses
Best Use
Multifamily LT 5
$493.3K
$431.6K – $575.5K
NOI $34,530 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$455.5K
$398.6K – $531.5K
NOI $31,887 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$960.3K
$840.3K – $1.12M
NOI $67,221 @ 7.0% cap · market cap 12.11%
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
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 89115, NV
67,043
Population
21,670
Households
3.1
Avg Household Size
29
Median Age
9%
College-Educated
70%
High-School Grad
24.9 sq mi
ZIP Area
2,692
Density / Sq Mi
$49,648
Median Household Income
$32,198
Median Earnings
$1,294
Median Rent
$258,900
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 - Four 2-bedroom, 1-bath units with in-unit laundry and recent updates in a planned community with pool and spa access.
Where is this quadplex located?
The property is located at 1872 Cosmic Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Planned community property built in 1986 with mature landscaping, pool, and spa; Four units with 2 bedrooms and 1 bath each, totaling 3,212 SF; Each unit includes a refrigerator, washer, dryer, dishwasher, and private laundry room
