2257 Exeter DrLas Vegas, NV 89156

Property Details for 2257 Exeter Dr

Year built

1983

Property size (Sq ft)

3,692 SF

Property type

Apartment buildings

Description

This exceptional fourplex in Las Vegas' desirable Sunrise Mountain area presents a compelling investment opportunity. The property boasts 3,692 square feet of living space, distributed across four spacious two-bedroom, two-bathroom units, each featuring a private laundry room. Two upstairs units have recently upgraded kitchens and flooring. Situated on a large 7,405 square foot lot, the property offers ample parking, including space for RV or vehicle storage. Current rents range from $1,250 to $1,350 per month, generating a solid 6.82% cap rate, projected to increase to 7.48% with a pro-forma NOI of $69,936. Recent improvements include a new roof and updated plumbing. Unit D is currently undergoing renovation, with completion expected by mid-September, and will command a rent of $1,400 per month upon completion. The property's prime location provides breathtaking city and strip views, a rare find in this area. Built in 1983, this one-story and two-story building is zoned for 3 to 4 units (32.140 - MF Res 3 to 4 Units. Fourplex), and the asking price is $699,999, or $174,999.75 per unit. This turnkey investment offers immediate income potential and strong long-term growth prospects. The property's address is 2257 Exeter Dr, Las Vegas, NV 89156, with APN 140-23-115-002.

Location Insight

City

Las Vegas

County

Clark

State

Nevada

Latitude

36.2

Longitude

-115.022

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