Four-Unit Apartment Building with
For Sale
$639,900
2341 Exeter Dr, Las Vegas, NV 89156
Multifamily property with refreshed, rent-ready apartments, one occupied unit, and balconies oriented toward the Las Vegas Strip.
Property Size4,172 SF
Price / SF$153.38
Days on Market58
Property Features for 2341 Exeter Dr
General Information
Standard status
Active
Size
4,172 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
private balconies
Building Details
Year Built
1983
Listing Agency:
Huntington & Ellis, A Real Est
Listed By:
Mario Vitale · License #S.0190117
(702) 521-4358
Source:
Tmgluxury
Added: Aug 12
Changed: Oct 3
Last Checked: Oct 7 at 1:25PM
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 Huntington & Ellis, A Real Est
Investment Insights
Based on property information with market context.
This 1983-built quadplex contains four apartments, each arranged with 2 bedrooms and 2 bathrooms. Three units have been refreshed and are ready for tenant placement, while the remaining apartment is occupied and producing rental income. Two units include private balconies with outlooks toward the Las Vegas Strip.
The property is located in Las Vegas near Albertsons, Walmart Neighborhood Market, Walgreens, Dollar Tree, restaurants, schools, public transportation, Lake Mead Plaza, and Plaza Del Rio Shopping Center. Major roadways, Downtown Las Vegas, and valley employment centers are also within convenient reach.
The unit configuration supports multiple ownership approaches, including leasing all four apartments or occupying one while renting the others, as explicitly described for the property.
The property is located in Las Vegas near Albertsons, Walmart Neighborhood Market, Walgreens, Dollar Tree, restaurants, schools, public transportation, Lake Mead Plaza, and Plaza Del Rio Shopping Center. Major roadways, Downtown Las Vegas, and valley employment centers are also within convenient reach.
The unit configuration supports multiple ownership approaches, including leasing all four apartments or occupying one while renting the others, as explicitly described for the property.
Key Highlights
- Four‑unit quadplex with four 2‑bedroom, 2‑bathroom apartments
- Three refreshed units are rent ready
- Fourth unit is tenant occupied and generating rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,020
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$960,400
$960.4K
Cap Rate 7%
$686,000
$686.0K
Cap Rate 9%
$533,556
$533.6K
Market Conditions
NOI Build-Up for 4,172 SF
Gross rent
$72.6K $17.40/SF
− Vacancy
−$4.0K −$0.96/SF
EGI
$68.6K $16.44/SF
− OpEx
−$20.6K −$4.93/SF
NOI
$48.0K $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%
$960,400
Cap Rate 7%
$686,000
Cap Rate 9%
$533,556
Alternative Uses
Best Use
Multifamily LT 5
$686.0K
$600.3K – $800.3K
NOI $48,020 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$633.9K
$554.7K – $739.6K
NOI $44,376 @ 7.0% cap · market cap 6.93%
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,912 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 89156, NV
30,067
Population
10,413
Households
2.9
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
44.7 sq mi
ZIP Area
673
Density / Sq Mi
$69,783
Median Household Income
$36,342
Median Earnings
$1,354
Median Rent
$288,800
Median Home Value
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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?
Quadplex - Multifamily property with refreshed, rent-ready apartments, one occupied unit, and balconies oriented toward the Las Vegas Strip.
Where is this quadplex located?
The property is located at 2341 Exeter Dr Las Vegas, NV.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: Four‑unit quadplex with four 2‑bedroom, 2‑bathroom apartments; Three refreshed units are rent ready; Fourth unit is tenant occupied and generating rental income
