Four-Plex with In-Unit
For Sale
$590,000
Pending
1899 Cosmic Drive, Las Vegas, NV 89115
MULTI_FAMILY - Other - Las Vegas, NV
Property Size3,212 SF
Lot Size0.16 Acres
Days on Market38
Property Features for 1899 Cosmic Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Assigned
Appliances
Dishwasher, Electric Water Heater
Subdivision
Lake Mead Villas
Elementary school
,
Directions
W on Lake Mead from Lamb, S on Dwarf Star into Cape Cod Villas, W on Orbit, S on Cosmic to unit on right
Standard status
Pending
APN
140-19-712-010
Size
3,212 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2301
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
pool
spa
playground
washer & dryer
Building Details
Year built
1987
Floors in Building
2
Number of units
4
Flooring type
Tile, Vinyl
Building materials
Stucco, Wood Frame
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Ameropan Realty and Property
(702) 818-5550
Listed By:
Constantin Oliver Ene · License #B.1002107
(702) 250-6273
Added: Jul 6
Changed: Aug 2
Last Checked: Aug 12 at 9:06PM
MLS# 2797635
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-plex (quadplex) was built in 1987 and features four residential units with two bedrooms and one bathroom each. The units include appliances such as a dishwasher and electric water heater, and the property is described as having in-unit washer and dryer, along with assigned parking. Interior finishes include vinyl and tile flooring, and the building is constructed with stucco and wood frame materials. Central heating (natural gas) and central air conditioning serve the property.
The community amenities include a pool, spa, and playground. Utilities are provided via public water and public sewer, and the roof is described as shingle/composition.
Set on a 0.16-acre lot with 3,212 square feet of property size, this quadplex is positioned for tenants who want nearby access to everyday needs, with the property described as convenient to schools, bus lines, freeways, shopping, entertainment, and employment.
The community amenities include a pool, spa, and playground. Utilities are provided via public water and public sewer, and the roof is described as shingle/composition.
Set on a 0.16-acre lot with 3,212 square feet of property size, this quadplex is positioned for tenants who want nearby access to everyday needs, with the property described as convenient to schools, bus lines, freeways, shopping, entertainment, and employment.
Key Highlights
- Four‑plex with four two‑bedroom, one‑bath units
- Each unit described with washer and dryer plus appliances including dishwasher
- Central natural gas heat and central A/C
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
5.85%
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 5.85%
Second Best
Apartment 5plus
$455.5K
$398.6K – $531.5K
NOI $31,887 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$960.3K
$840.3K – $1.12M
NOI $67,221 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
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-plex built in 1987 with central gas heat, central A/C, and assigned parking; each unit includes key appliances.
Where is this quadplex located?
The property is located at 1899 Cosmic Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Four‑plex with four two‑bedroom, one‑bath units; Each unit described with washer and dryer plus appliances including dishwasher; Central natural gas heat and central A/C
