Gated Triplex With Newer
For Sale
$319,000
1109 Cunningham Drive, Las Vegas, NV 89106
Three-unit property with concrete front and side landscaping.
Property Size2,095 SF
Days on Market114
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Property Features for 1109 Cunningham Drive
General Information
Standard status
Active
Size
2,095 SF
Property subtype
Triplex
Property Condition
Severity
Repairs Needed
Evidence
Buyer's interior renovation
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,088
Amenities
gated
Building Details
Building Size
2,095 SF
Year Built
1957
Listing Agency:
Bold Step Realty LLC
Listed By:
Sheila Adiele · License #B.0019543
(702) 498-2289
Source:
Vicerealtygroup
Added: Jun 24
Changed: Oct 10
Last Checked: Oct 15 at 6:24AM
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 Bold Step Realty LLC
Investment Insights
Based on property information with market context.
Built in 1957, this triplex includes three residential units within a gated property enclosed by a block fence. The site features concrete landscaping along the front and side areas, while the newer roof adds a recent improvement to the building.
Located at 1109 Cunningham Dr in Las Vegas, the property can accommodate an owner-occupant arrangement with one unit used as a residence and the other two offered for rent, subject to the buyer’s renovation plans.
Located at 1109 Cunningham Dr in Las Vegas, the property can accommodate an owner-occupant arrangement with one unit used as a residence and the other two offered for rent, subject to the buyer’s renovation plans.
Key Highlights
- Three‑unit triplex built in 1957
- Gated property enclosed by a block fence
- Newer roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,114
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,280
$482.3K
Cap Rate 7%
$344,486
$344.5K
Cap Rate 9%
$267,933
$267.9K
Market Conditions
NOI Build-Up for 2,095 SF
Gross rent
$36.5K $17.40/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$34.4K $16.44/SF
− OpEx
−$10.3K −$4.93/SF
NOI
$24.1K $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%
$482,280
Cap Rate 7%
$344,486
Cap Rate 9%
$267,933
Alternative Uses
Best Use
Multifamily LT 5
$344.5K
$301.4K – $401.9K
NOI $24,114 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$318.3K
$278.6K – $371.4K
NOI $22,284 @ 7.0% cap · market cap 6.99%
Theoretical Best
Specialty Retail
$723.9K
$633.4K – $844.6K
NOI $50,674 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
729
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with concrete front and side landscaping.
Where is this triplex located?
The property is located at 1109 Cunningham Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Three‑unit triplex built in 1957; Gated property enclosed by a block fence; Newer roof
