Quadplex with Two-Bedroom
For Sale
$590,000
1871 COSMIC Drive, Las Vegas, NV 89115
Residential, Las Vegas, NV
Property Size3,212 SF
Lot Size0.17 Acres
Price / SF$183.69
Days on Market54
Property Features for 1871 COSMIC Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Patio and Porch features
Patio
Interior features
Window Treatments
Appliances
Dryer, Dishwasher, Disposal, Oven, Range, Refrigerator, Washer
Subdivision
LAKE MEAD VILLAS UNIT 1
Elementary school
,
Directions
From Lamb & Lake Mead, North on Lamb, Right on Dwarf Star, Right on Orbit, Left on Cosmic to building 48.
Standard status
Active
APN
140-19-712-008
Size
3,212 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2301
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer
pool
spa
playground
Building Details
Year built
1987
Floors in Building
2
Number of units
4
Flooring type
Carpet
Building materials
Wood Frame
Roof type
Shingle, Composition
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 19
Last Checked: Aug 28 at 7:06PM
MLS# 2797795
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 3,212-square-foot quadplex contains four residences, each configured with two bedrooms and one bathroom. The units include refrigerators, ranges, ovens, dishwashers, disposals, washers, and dryers. Interior features include window treatments and carpet, while central electric heating and central air conditioning serve the building. Wood-frame construction, composition shingle roofing, and patios are also present.
The property occupies 0.17 acres in Las Vegas, with public water and public sewer service. Built in 1987, it is positioned near schools, bus lines, freeways, shopping, entertainment, and employment. Community amenities include a pool, spa, and playground.
The property occupies 0.17 acres in Las Vegas, with public water and public sewer service. Built in 1987, it is positioned near schools, bus lines, freeways, shopping, entertainment, and employment. Community amenities include a pool, spa, and playground.
Key Highlights
- Four‑unit property with 3,212 square feet of building area
- Each unit includes 2 bedrooms and 1 bathroom
- Appliances include washer, dryer, refrigerator, range, oven, dishwasher, and disposal
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
4
Residential units
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 - Each residence offers two bedrooms, one bathroom, appliances, and a washer and dryer.
Where is this quadplex located?
The property is located at 1871 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‑unit property with 3,212 square feet of building area; Each unit includes 2 bedrooms and 1 bathroom; Appliances include washer, dryer, refrigerator, range, oven, dishwasher, and disposal
