Listed by Simply Vegas
$640,000
2305 Exeter Drive
Details
APN 140-23-111-042
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,172
Units 4
Cap Rate 5.65%
NOI $36,178
Occupancy 100%
Pro-Forma Cap Rate 8.04%
Pro-Forma NOI $51,437
Price per SqFt $153
Class C
Year Built 1983
Buildings 1
Stories 2
Lot Size (SqFt) 7,405
Zoning 32.140 - MF RES 3 TO 4 UNITS. FOURPLEX
Parking Spaces 4 spaces
Parking Per SqFt 0.96
Investment Type Stabilized
4 Units | Strong In-Place Cash Flow + Upside Potential | Las Vegas Fourplex Portfolio Opportunity
Marketing description
2305 Exeter is a well-maintained fourplex built in 1983, featuring all 2-bedroom, 2-bath units. The property is occupied by long-term tenants, ensuring immediate in-place cash flow with upside potential through strategic lease renewals. Spacious layouts make it an attractive option for tenant retention.
Investment highlights
All units are 2-bedroom, 2-bath layouts
Immediate value-add through rental rate optimization and renewals
Built in 1983, maintained for long-term tenancy
Strong tenant retention with large living areas
Located in East Las Vegas, a strong rental corridor
Close to shopping, schools, and employment hubs
Easy access to Nellis Blvd and Boulder Hwy
Submarket with high occupancy and steady rent growth
Listing Contacts
Listed by Simply Vegas
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$36,178.00
$3,014.83/mo
Valuation Metrics
0
DSCR
5.65%
Cap Rate
5.65%
ROI
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