Fourplex with Updated
2835 Wheelwright Drive, Las Vegas, NV 89121
For Sale
$575,000
All four residences are occupied, with water, sewer and trash included in tenant rent.
Property Size3,672 SF
Days on Market15
Property Features for 2835 Wheelwright Drive
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
private covered patio
in-unit laundry
central HVAC
Building Details
Building Size
Year Built
Listing Agency:
Monarch Property Management &
Listed By:
Marcella Quezada · License NV B.1001305
(702) 412-7189
Source:
Virtuelre
Added: Oct 27
Changed: Nov 9
Last Checked: Nov 8 at 4:08PM
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 Monarch Property Management &
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Investment Insights
Based on property information with market context.
This 3,672-square-foot fourplex, built in 1984, contains four occupied residences. Several units have been updated, including a remodeled ground-floor residence with a refreshed kitchen, painted cabinetry, new countertops and included appliances. That unit also has full-size in-unit laundry, central HVAC and a covered private patio. Luxury vinyl plank flooring and interior paint are among the updates, and the property has no carpet.
Open parking is available, and community parks and local amenities are nearby. Water, sewer and trash service are included in tenant rent.
Open parking is available, and community parks and local amenities are nearby. Water, sewer and trash service are included in tenant rent.
Key Highlights
- Fourplex with four occupied residences
- 3,672 square feet; built in 1984
- Several residences updated, including a remodeled ground‑floor unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,247
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$964,940
$964.9K
Cap Rate 7%
$689,243
$689.2K
Cap Rate 9%
$536,078
$536.1K
Market Conditions
NOI Build-Up for 3,672 SF
Gross rent
$72.7K $19.80/SF
− Vacancy
−$3.8K −$1.03/SF
EGI
$68.9K $18.77/SF
− OpEx
−$20.7K −$5.63/SF
NOI
$48.2K $13.14/SF
Area
ZIP 89121
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$964,940
Cap Rate 7%
$689,243
Cap Rate 9%
$536,078
Alternative Uses
Best Use
Multifamily LT 5
$689.2K
$603.1K – $804.1K
NOI $48,247 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$618.3K
$541.1K – $721.4K
NOI $43,284 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$952.9K
$833.8K – $1.11M
NOI $66,704 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
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Business Placement
Demographics for 89121, NV
68,692
Population
29,012
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
78%
High-School Grad
9.2 sq mi
ZIP Area
7,467
Density / Sq Mi
$54,667
Median Household Income
$32,776
Median Earnings
$1,306
Median Rent
$288,400
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Las Vegas, NV
Properties on Market for Quadplexes in Las Vegas
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are occupied, with water, sewer and trash included in tenant rent.
Where is this quadplex located?
The property is located at 2835 Wheelwright Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Fourplex with four occupied residences; 3,672 square feet; built in 1984; Several residences updated, including a remodeled ground‑floor unit
