Fourplex Residential Income
For Sale
$590,000
Pending
1899 Cosmic Dr, Las Vegas, NV 89115
Four-unit residential building with two-bedroom, one-bath units, each including appliances and washer/dryer.
Property Size3,212 SF
Days on Market36
Property Features for 1899 Cosmic Dr
General Information
Standard status
Pending
Size
3,212 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,301
Building Details
Building Size
3,212 SF
Year Built
1987
Stories
2
Units
4
Listing Agency:
Ameropan Realty and property management
(702) 250-6273
Listed By:
Constantin Oliver Ene · License #B.1002107
(702) 250-6273
Source:
Elliman
Added: Jul 8
Changed: Aug 8
Last Checked: Aug 12 at 7:09AM
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 Ameropan Realty and property management
Investment Insights
Based on property information with market context.
This fourplex residential income property features four separate units, each configured with two bedrooms and one bathroom. The units include appliances and in-unit washer and dryer, supporting tenant convenience and everyday livability.
The property is described as conveniently located near schools, bus lines, freeways, shopping, entertainment, and employment. Community amenities include a pool, spa, and playground, offering shared recreation for residents.
All listing information is centered on the building’s four-unit layout and the included appliance and laundry package, with the surrounding area and community amenities highlighted in the remarks.
The property is described as conveniently located near schools, bus lines, freeways, shopping, entertainment, and employment. Community amenities include a pool, spa, and playground, offering shared recreation for residents.
All listing information is centered on the building’s four-unit layout and the included appliance and laundry package, with the surrounding area and community amenities highlighted in the remarks.
Key Highlights
- Four‑plex residential building built in 1987
- 4 units total, each unit is 2 bed / 1 bath
- Each unit includes appliances and a washer/dryer
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
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-unit residential building with two-bedroom, one-bath units, each including appliances and washer/dryer.
Where is this quadplex located?
The property is located at 1899 Cosmic Dr 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 residential building built in 1987; 4 units total, each unit is 2 bed / 1 bath; Each unit includes appliances and a washer/dryer
