Las Vegas Real Estate News
Apartment rents continue to rise.
The majority of these statistics do not include all the low income multi family properties that Californians are salivating over. Before you make that journey through the desert, let us give you the real skinny on low income multi family units. Our investors are unloading these for a reason.
Development Pushes East
The West side is crowded with increased speculation on the Raider arrival. The Eastside is becoming more attractive for developers and I believe housing will follow. Currently most housing just East of the Strip is old and beat up. Condos and houses are about half the price you would find the same distance from The Strip. There are cash flow and appreciation opportunities where the sun rises.
More Industrial Projects Starting
Overall, the valley is on pace to bring 9.9 million square feet of industrial space online by the end of 2017. The market had a net absorption of 862,365 square feet of warehouse distribution space, an improvement over the average quarterly net absorption of 648,455 square feet in 2016. The economy is picking up steam as more California businesses flee taxes and congestion.
Limestone Investments Liquidating Multi Family Properties
Our investors have unloaded about 26 of our 30 multi family buildings for these 4 reasons:
- They are old and prone to major repairs.
- The prices have increased dramatically and they are taking their gains.
- We are done managing them. All of our lawsuits and brain damage are attributed to these tenants.
- Airbnbs out perform multi family by at least 2 to 1.
Our phone is blowing up on investing and managing SFRs in the short term rental market. It’s so popular, I create a whole page to answer FAQs on Airbnbs. Please read this page first before calling. If you have the guts, we have the process for you.
This week’s SFR recommendations
This weeks’ Commercial Recommendation.
1
,
,
| Property Details | |
|---|---|
| Price |
$1,950,000
|
| Gross Leasable Area |
18,908 SF
|
| Lot Size |
1.26 AC
|
| Price/SF |
$103.13 /SF
|
| Property Type |
Retail
|
| Property Sub-type |
Neighborhood Center
|
| Property Use Type |
Investment
|
| Tenancy |
5/8 occupied
|
| Tax ID/APN |
161-05-510-008
|
| Status |
Active
|
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