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Marketplace Listing - Multifamily

Las Vegas Multifamily Portfolio - 344 Total Units

Unlisted

Asking Price:
Offers Due: Jul 21, 2021
  • Occupancy Percent
  • 97 %
  • Floors
  • 2 - 2

The Milo

3850 Mountain Vista St., Las Vegas, NV 89121

  • Asset Type
  • Real Estate
  • Property Type
  • Multifamily
  • Year Built
  • 1990
  • Year Renovated
  • 1990
  • Number of Floors
  • 2
  • Occupancy
  • 96.00%
  • Occupancy As Of
  • May 25, 2021
  • Multifamily Type
  • Garden
  • Number of Units
  • 152 Units
  • Property Size
  • 0 Sq Ft

Sunrise Springs

4455 E Twain Ave., Las Vegas, NV 89121

  • Asset Type
  • Real Estate
  • Property Type
  • Multifamily
  • Year Built
  • 1989
  • Number of Floors
  • 2
  • Occupancy
  • 97.00%
  • Occupancy As Of
  • May 25, 2021
  • Multifamily Type
  • Garden
  • Number of Units
  • 192 Units
  • Property Size
  • 0 Sq Ft

344 Total Units - The Milo and Sunrise Springs Apartments

The Market
In keeping with the overall Las Vegas metro rental demand, The Milo and Sunrise Springs submarket has enjoyed 3% rent growth just from the beginning of the year. Overall vacancy has dropped below 5% and delinquencies are beginning to abate. In addition, concessions are down with some properties offering no concessions for turnover and/or new Leases. As jobs continue to be created (especially industrial)  both south and north of the properties, the demand for nearby class B apartments continues to surge.

The Location
The Milo and Sunrise Springs Apartments are located in the rapidly improving mid valley Boulder Highway Corridor with more than 1,000 feet of frontage providing excellent exposure to more than +/-30,000 vehicles per day. New owners continue to renovate surrounding properties both interiors and exteriors including new paint and landscaping. Boulder Highway affords easy access to 515 Freeway, and an endless collection of entertainment with Arizona Charlie’s Boulder, Cannery East Hotel and Casino and Sam’s Town nearby. Shopping starts with the Walmart Super Center, which draws significant traffic. Lake Mead and all its boating and fishing options are just a few exits south of the property. 

Near Major Employment
The properties are within two miles of four Hotel & Casinos including Arizona Charlies Boulder (across the street), Boulder Station, Sam’s Town and Eastside Cannery. Additionally, The Milo and Sunrise Springs Apartments are located approximately 15 minutes from Downtown Las Vegas and only 10 minutes to The Galleria Mall and Sunset Station located in Henderson, NV.

Download Offering Memorandum

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Unlisted

Asking Price:
Offers Due: Jul 21, 2021

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