2305 Exeter Dr
Fourplex value-add opportunity in East Las Vegas: 2305 Exeter Dr offers $640,000 asking price at a 5.54% cap on a stabilized multifamily asset with four 2-bedroom, 2-bath units and 4,172 SF of total living space. Built in 1983, the property is currently occupied by long-term tenants and generates reliable cash flow while presenting meaningful upside through unit renovations, lease renewals, and strategic repositioning.
The two-story, four-unit building sits on a 7,405 SF (0.17-acre) R3-zoned parcel with four parking spaces. Each unit features natural light, air conditioning, and central heating. The core value-add thesis centers on converting each unit from a 2-bedroom to a 3-bedroom layout to significantly boost rental income. The property is available individually or as part of a portfolio with 917 Snug Harbor and 4244 Middlesex, providing investors flexibility in acquisition strategy.
The East Las Vegas location offers proximity to public transportation, metro/subway access, and the airport, supporting tenant demand and long-term appreciation potential.
- Four oversized 2-bedroom, 2-bath units with conversion potential to 3-bedroom layouts
- Stabilized cash flow from long-term tenants; meaningful renovation upside
- Portfolio acquisition option with two adjacent properties
- R3 zoning on 7,405 SF parcel; 4 parking spaces
- Proximity to public transit, metro access, and airport
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Location
With 4,172 square feet of total living space, 2305 Exeter offers a rare value-add opportunity in East Las Vegas. Built in 1983, this classic fourplex includes four oversized 2-bedroom, 2-bath units with expansive living and dining areas, providing an excellent foundation for strategic upgrades—including the potential to convert each unit into a 3-bedroom layout to significantly boost rental income. Currently occupied by long-term tenants, the property generates reliable cash flow while presenting meaningful upside through renovations, lease renewals, and repositioning. Available individually or as part of a portfolio with 917 Snug Harbor and 4244 Middlesex, 2305 Exeter gives investors flexibility along with strong potential for increased returns.