Las Vegas Real Estate News
Electric Car Manufacturer Breaks Ground… Over the last several months, Faraday has been working to secure seven parcels of land for a total of about 900 acres at North Las Vegas’s Apex Industrial Park, an 18,000-acre site where Interstate 15 meets U.S. Highway 93 on the outskirts of the metropolitan area. We will see a surge in real estate prices and rents in North Las Vegas because there is no housing at Apex.
Lake Las Vegas Still Struggling… This place is still pretty much a ghost town but it’s showing a little bit more of life. The HOA fees are brutal and there are very few amenities there. I spoke with a real estate sales professional selling new homes and she hinted there there will be a new grocery store opening soon. I believe this is still years away from being an attractive place to live.
UNLV Housing to Open 2017… The three-phased, $76 million project will redevelop the existing University Park Apartments — a 1960s garden-style apartment community. A developer has entered into a 40-year ground lease with UNLV on the project to redevelop and operate the property for student housing. New construction will begin in May on the 758-unit building that will be known as The Degree. The project is slated to have residents in the fall of 2017. I don’t see this as having a major impact on our investors who have mult family units in that area as we very rarely get student applicants.
Wynn Going Big Again… During a Wynn Resorts investment conference, he announced plans for a major expansion of the Wynn and Encore resort campus, something big and different: a 38-acre lagoon with an island in the middle where patrons will be able to water ski and parasail, shadowed by a new 1,000-room boutique hotel, a casino, restaurants and convention space. Construction on a portion of the Wynn Golf Club as early as this fall, cost as much as $1.6 billion and open as soon as 2020.
Distillery Cranking Near Fremont… Just when you thought Fremont couldn’t get any better, customers at one of my favorite bars, The Griffin, might soon be able to order cocktails crafted with spirits made down the street. Nevada H&C Distilling Company, owned by Griffin co-founders Jonathan Hensleigh and Aaron Chepenik, has been quietly distilling over the past couple of months—and Chepenik says bottles of its Silver Dollar Vodka could be released as early as this month.
Jim spoke about property management tips a nd techniques at the Real Estate Expo on April 10th.
$127k – 3/2/2
$200k – 4 Units 75% Occupied
$620k – 8 Mixed Multi / Retail 85% Occupied
Web site Rehab
Pardon the dust and debris around our web site. In an effort to make it more mobile friendly, we rebuilt our site and there are still a bunch of broken links. Our little elves are working on it. Please be patient.
In an effort to streamline operations we started using the business version of Dropbox. What we didn’t realize is that it disconnected all our investors. If you use this feature but have not seen files updated recently, let us know so we can hook you back up.
Evictions and how they work
Archived & recent news (old articles not ported yet…)