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2305 Exeter Dr 4 Unit Apartment Building Offered at $640,000 at a 8.04% Cap Rate Las Vegas, NV 89156
INVESTMENT HIGHLIGHTS
- All units are 2-bedroom, 2-bath layouts
- Built in 1983, maintained for long-term tenancy
- Located in East Las Vegas, a strong rental corridor & submarket with high occupancy and steady rent growth
- Immediate value-add through rental rate optimization and renewals
- Strong tenant retention with large living areas
- Close to shopping, schools, and employment hubs & Easy access to Nellis Blvd and Boulder Hwy
EXECUTIVE SUMMARY
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.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $640,000 | Property Type | Multifamily |
| Price Per Unit | $160,000 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 4,172 SF |
| Cap Rate | 8.04% | No. Stories | 2 |
| No. Units | 4 | Year Built | 1983 |
| Zoning | R3 | ||
| Price | $640,000 |
| Price Per Unit | $160,000 |
| Sale Type | Investment |
| Cap Rate | 8.04% |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.17 AC |
| Building Size | 4,172 SF |
| No. Stories | 2 |
| Year Built | 1983 |
| Zoning | R3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 4 | $1,450 | 1,043 |
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PROPERTY TAXES
| Parcel Number | 140-23-111-042 | Improvements Assessment | $58,781 |
| Land Assessment | $48,300 | Total Assessment | $107,081 |
PROPERTY TAXES
Parcel Number
140-23-111-042
Land Assessment
$48,300
Improvements Assessment
$58,781
Total Assessment
$107,081
CONTACTS
-
Catherine Hyde -
Jeremy Hyde -
Jillian Hyde -
Hyde Real Estate Group at Simply Vegas
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2305 Exeter Dr
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