Four-Unit Residential Income
For Sale
$555,000
1872 Cosmic Drive, Las Vegas, NV 89115
Four updated 2-bedroom, 1-bath units within a planned community with pool and spa amenities.
Property Size3,212 SF
Days on Market97
Property Features for 1872 Cosmic Drive
General Information
Standard status
Active
Size
3,212 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,670
Building Details
Building Size
3,212 SF
Year Built
1986
Listing Agency:
Rothwell Gornt Companies
Listed By:
Ryan Crighton · License #BS.0000254
(702) 217-1048
Source:
Vicerealtygroup
Added: Jul 9
Changed: Oct 8
Last Checked: Oct 13 at 3:34AM
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 Rothwell Gornt Companies
Investment Insights
Based on property information with market context.
This Cape Cod-style four-unit residential income property was built in 1986 and totals 3,212 square feet. The building contains four spacious 2-bedroom, 1-bath units, each with a large living room, fireplace, and a dining area off the kitchen, along with a private laundry room. Appliances are included in each unit, including a refrigerator, washer, dryer, and dishwasher. The property is described as having recent updates.
Located in the Northeast Las Vegas sector, the community is positioned close to Nellis AFB, schools, and public transit. The planned community setting includes mature landscaping, a pool and spa, and shared common areas.
HOA fees cover trash, sewer, exterior upkeep, roof, landscaping, common utilities, and pool/spa access, which may simplify certain day-to-day property responsibilities for an owner.
Located in the Northeast Las Vegas sector, the community is positioned close to Nellis AFB, schools, and public transit. The planned community setting includes mature landscaping, a pool and spa, and shared common areas.
HOA fees cover trash, sewer, exterior upkeep, roof, landscaping, common utilities, and pool/spa access, which may simplify certain day-to-day property responsibilities for an owner.
Key Highlights
- Built in 1986 Cape Cod design with 3,212 SF and four 2‑bedroom, 1‑bath units
- Each unit includes a refrigerator, washer, dryer, and dishwasher
- Units feature private laundry rooms plus large living rooms with fireplaces and dining areas off the kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,530
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
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
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 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 6.22%
Second Best
Apartment 5plus
$455.5K
$398.6K – $531.5K
NOI $31,887 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$960.3K
$840.3K – $1.12M
NOI $67,221 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
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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
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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 - Four updated 2-bedroom, 1-bath units within a planned community with pool and spa amenities.
Where is this quadplex located?
The property is located at 1872 Cosmic Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Built in 1986 Cape Cod design with 3,212 SF and four 2‑bedroom, 1‑bath units; Each unit includes a refrigerator, washer, dryer, and dishwasher; Units feature private laundry rooms plus large living rooms with fireplaces and dining areas off the kitchen
