rancho drive apartments · 2018. 6. 12. · l0

Rancho Drive Apartments MULTI FAMILY OPPORTUNITY

RICHARD CRIGHTON

CHRIS BROWN

ROTHWELL GORNT COMPANIES

PERFECT SINGLE STORY

10 PLEX- FULLY OCCUPIED

.A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330

Single Story 1 O Plex

Instant Cash-Flow

Fantastic Location

Large Kitchen areas

Fantastic Frontage on Rancho

Directly Across from Casino to Appeal to Employees as Tenants


RANCHO APARTMENTS COMMUNITY DESCRIPTION

HIGHLIGHTS: Rancho Apartments

GREAT Single Story Complex, GREAT Location

Rancho Drive

Property Overview:

The 1 O unit apartment complex located with frontage

on Rancho directly next to the Wildfire casino is an

excellent opportunity to enter the Las Vegas

multi-family business. The property is 100%

occupied with opportunity to raise the rents

significantly and increase cash flow.

Do not miss this rare opportunity

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_1!\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330

PROFORMA FINANCIALS

Current Financials

3165-000 RESIDENTIAL RENTAL INCOME 3358-000 ADJUSTED FOR 5% VACANCY 3460-000 RENTAL INCOME 3650-000 OTHER INCOME

13700-000 INCOME

4295-000 PROPERTY MANAGEMENT EXPENSES 4397-000 MARKETING/ RETENTION 4695-000 MAINTENANCE & REPAIR 4795-000 TURNOVER EXPENSES 4895-000 UTILITIES 5199-000 TAXES & INSURANCE

I5350-ooo OPERATING EXPENSES

15400-000 NET OPERATING INCOME

1853 N. Ranch Drive Apartments

Annual Budget

Budget Per Unit

66,600 6,660.00 (3,330) (333.00)

63,270 6,327.00

63,270 6,327

2,200 220.00 5,220 522.00 7,420 742.00

55,850 5,585.00 893,600 6.25% 908,130 6.15% 923,140 6.05% 930,833 6.00%

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Market Rent

3165-000 3358-000 3460-000 3650-000

13700-000

4295-000 4397-000 4695-000 4795-000 4895-000 5199-000

I5350-ooo

15400-000

RESIDENTIAL RENTAL INCOME ADJUSTED FOR 5% VACANCY RENTAL INCOME OTHER INCOME INCOME

PROPERT Y MANAGEMENT EXPENSES MARKETING/ RETENTION MAINTENANCE & REPAIR TURNOVER EXPENSES UTILITIES TAXES & INSURANCE OPERATING EXPENSES

NET OPERATING INCOME

2 Bedroom Market Rent $800@ Mth 1 Bedroom Market Rent $600@ Mth

1853 N. Ranch Drive Apartments

Annual Budget

Budget Per Unit

88,800 (4,440)

84,360

84,360

2,200 5,220 7,420

76,940

8,880.00 (444.00)

8,436.00

8,436

220.00 522.00 742.00

7,694.00 1,231,040 6.25% 1,251,057 1,271,736

6.15% 6.05%

1,282,333 6.00%

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APARTMENT PHOTOS

RANCHO DRIVE APARTMENTS PHOTOS

Exterior of the Apartments


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COM PARABLES

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Subject Property 1853 N.Rancho Dr, Las Vegas, NV 89106.

Sale Price $1,000,000

Year Built 1953

No Units 10

Price/ unit $100,000

Occupancy 100%

Cap N/A

787 E Harmon Ave Las Vegas NV 89119


Year Built 1980

Building SF 18,096

No Units 32


Occupancy 100%

Cap N/A


La Esperanza Apartments

900-1208 E Carey Ave.N . Las Vegas, NV 89030


Year Built 1962

Building SF 46,833

No Units 68


Occupancy N/A

Cap N/A

133 Ida Ave. Las Vegas, NV 89109


Year Built 1963

Building SF 4,624

No Units 16


Occupancy N/A

Cap N/A


804 S 3rd St Las Vegas, NV 89101 Sale Price $1,490,000

Year Built 1963

Building SF 7,370

No Units 12


Occupancy N/A

Cap N/A


Year Built 1957

Building SF 7,100

No Units 10


Occupancy N/A

Cap N/A


LAS VEGAS ECONOMIC GROWTH

PT's Pubs to buy Stratosphere

Golden Entertainment is reaching new

heights with its latest acquisition.

The operators of the PT's Pubs tavern

chain popular in Southern Nevada is

acquiring the company that owns four

casinos, including Stratosphere, for

$850 million.

The cash and stock deal with American

Casino & Entertainment Properties also

includes two Arizona Charlie's properties

in Las Vegas and the Aquarius in Laughlin.

When the deal closes, Golden will

operate more than 15,800 slot

machines, 114 table games and more

than 5,100 hotel rooms across eight

casino properties and almost 1 ,000

distributed gaming locations, including

the largest branded tavern portfolio

in Nevada.

Las Vegas Raiders Stadium

The Raiders are building a 65,000-seat,

$1.8 billion indoor stadium at Interstate

15 and Russell Road using $750 million

of public money authorized by the N

evada Legislature.

"When we lose some of the stigma

associated with the original idea and

shock that we would be the exclusive

brand associated with gaming, when

gaming becomes ubiquitous and

Las Vegas becomes just another

town with a hockey franchise and

a football franchise, one of the

benefits we're going to have is that

one of the best sectors that we're

really gaining ground in is business

services," Lang said

LAS Vegas hotel projects

Marriott lnternational's plan to open two I

uxury hotels at Las Vegas' long-stalled

Fontainebleau site could finally provide

crucial energy for a stretch of the Strip's

north end that has been largely dormant

for the better part of a decade.

Quiet since 2009 because of recession-era

construction delays, the project is slated

to open in 2020 as the Drew Las Vegas,

a 4,000-room integrated resort that will

include a JW Marriott and a hotel under

Marriott's Edition brand, as well as a third

eponymous hotel, the Drew, which will be

overseen in part by ex-Cosmopolitan

Las Vegas CEO John Unwin.

In addition to a casino, restaurants and

nightclubs, the Drew will offer more than

500,000 square feet of convention and

meeting space.

t'C\ ci ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 COMPANIES CHRIS BROWN - (702) 445.1330

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rancho drive apartments · 2018. 6. 12. · l0

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