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Powerful real estate search engines and options for your property searches in Las Vegas / Henderson Nevada.
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LAS VEGAS CRAIG SUITES - NOD FILED 5.22.12
125 UNITS
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Estimated Size |
3.90 Acres |
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Original Const. Year |
1984 |
Last Sale Price
Month/Year |
5725000
05/06 |
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Land Use |
3-21 COMMERCIAL MOTELS |
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Dwelling Units |
125 |
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Commercial Real Estate Improves, Multifamily Strong
Daily Real Estate News |
Friday, May 25, 2012
Shaking off a prolonged impact from
the recession, fundamentals are gradually improving in all of the major
commercial real estate sectors, according to the National Association of
REALTORS® quarterly commercial real estate forecast. The apartment rental sector has fully recovered and is growing.
The findings also are confirmed in NAR’s recent quarterly Commercial Real Estate Market Survey, which collects data from members about market activity.
Lawrence Yun,
NAR chief economist, said new jobs are the key. “Ongoing job creation,
which is at a higher level this year, is fueling an underlying demand
for commercial real estate space, assisted by a steady increase in
consumer spending,” he said. “The pattern shows gradually declining
commercial vacancy rates, with consequential but generally modest rent
growth.”
Yun expects the economy to add 2 to 2.5 million jobs both this year
and in 2013, on the heels of 1.7 million new jobs in 2011, assuming a
new federal budget is passed before the end of the year. “Although we
need even stronger job growth, by far the greatest impact of job
creation is in multifamily housing, where newly formed households
striking out on their own have increased demand for apartment rentals –
this is the sector with the lowest vacancy rates and strongest rent
growth, which is attracting many investors.”
Rising apartment rents also are having a positive impact on home
sales because many long-time renters now view homeownership as a better
long-term option, Yun noted.
A large problem remains for purchases of commercial property priced
under $2.5 million. “Our recent commercial lending survey shows that
there is very little capital available for small business, which is
significantly impacting commercial real estate transactions, although
funding is less restrictive for bigger properties.”
NAR’s latest Commercial Real Estate Outlook offers
projections for four major commercial sectors and analyzes quarterly
data in the office, industrial, retail and multifamily markets.
Historic data for metro areas were provided by REIS, Inc., a source of
commercial real estate performance information.
Office Markets
Vacancy rates in the office sector are projected to fall from 16.3
percent in the second quarter of this year to 16.0 percent in the second
quarter of 2013.
The markets with the lowest office vacancy rates:
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Washington, D.C.: 9.3% vacancy rate
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New York City: 10%
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New Orleans: 12.6%
Office rents should increase 2.0 percent this year and 2.5 percent in
2013. Net absorption of office space in the U.S., which includes the
leasing of new space coming on the market as well as space in existing
properties, is forecast at 24.7 million square feet in 2012 and 48.0
million next year.
Industrial Markets
Industrial vacancy rates are likely to decline from 11.0 percent in
the current quarter to 10.7 percent in the second quarter of 2013.
The areas with the lowest industrial vacancy rates:
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Orange County, Calif.: 4.7% vacancy rate
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Los Angeles: 5%
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Miami: 7.2%
Annual industrial rent is expected to rise 1.6 percent in 2012 and
2.4 percent next year. Net absorption of industrial space nationally is
seen at 44.1 million square feet this year and 62.4 million in 2013.
Retail Markets
Retail vacancy rates are forecast to decline from 11.3 percent in the
second quarter to 10.7 percent in the second quarter of 2013.
Presently, markets with the lowest retail vacancy rates:
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San Francisco: 3.7% vacancy rate
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Fairfield County, Conn.: 4%
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Long Island, N.Y.: 5%
Average retail rent should rise 0.8 percent this year and 1.3 percent
in 2013. Net absorption of retail space is projected at 8.0 million
square feet this year and 21.9 million in 2013.
Multifamily Markets
The apartment rental market – multifamily housing – is likely to see
vacancy rates drop from 4.5 percent in the second quarter to 4.3 percent
in the second quarter of 2013; apartment vacancy rates below 5 percent
generally are considered a landlord’s market with demand justifying
higher rents.
Areas with the lowest multifamily vacancy rates:
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New York City: 2.1%
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Portland, Ore.: 2.3%
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Minneapolis: 2.4%
After rising 2.2 percent last year, average apartment rent is
expected to increase 4.0 percent in 2012 and another 4.1 percent next
year. “Such a rent increase will raise the core consumer inflation
rate. The Federal Reserve, in turn, may be forced to raise interest
rates, possibly as early as late 2013.”
Multifamily net absorption is forecast at 215,900 units this year and 230,300 in 2013.
The Commercial Real Estate Outlookis published by the NAR Research Division for the commercial community. NAR’s Commercial Division,
formed in 1990, provides targeted products and services to meet the
needs of the commercial market and constituency within NAR. The NAR
commercial components include commercial members; commercial committees,
subcommittees and forums; commercial real estate boards and structures;
and the NAR commercial affiliate organizations – CCIM Institute,
Institute of Real Estate Management, REALTORS® Land Institute, Society
of Industrial and Office REALTORS®, and Counselors of Real Estate.
Approximately 78,000 NAR and institute affiliate members specialize in
commercial brokerage and related services, and an additional 232,000
members offer commercial real estate services as a secondary business.
Source: NAR
Read More
Commercial Real Estate Follows Economy Into Recovery
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Pecos Terrace - Affordable Housing
3555 E LAKE MEAD BLVD
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Property Type:
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Multi-Family
for Sale
Low-Rise/Garden
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| Number of Units: |
184 Units |
| Building Size (RSF): |
193,688 SF |
| Sale Price: |
$12,769,327 |
| Unit Price: |
$69,398.52 Per Unit |
| Ceiling: |
9 ft. |
| Building Name: |
Pecos Terrace |
| Sale Terms: |
Cash to Seller |
| Last Updated: |
5/20/2012 |
| Days on CIE: |
78 |
Pecos Terrace is an existing
184-unit affordable housing community that is offered For Sale based
upon IRC Section 42 Low Income Housing Tax Credits - Qualified Contract
Requirements. The list price for Pecos Terrace is the Qualified Contract
Price as established by McGladrey/Novogradac Tax Credit Accountants.
ALL OFFERS WILL BE CONSIDERED! OWNER MAY ACCEPT LESS THAN QUALIFIED CONTRACT PRICE IN ACCORDANCE TO REGULATIONS OF PROGRAM.
This property is currently administered pursuant to regulatory and use
agreements with Nevada Housing Division - LIHTC Affordable Housing
Program which restrict rent charges, operating methods and annual
distributions on an extended compliance period. DO NOT DISTURB TENANTS
NOR MANAGEMENT! SHOWN ON TOUR DATES BELOW.
TOUR DATES
May 22-25, 2012
May 29-31, 2012
CALL FOR OFFERS
Monday, June 18th at 5pm PST.
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Property Type:
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Multi-Family
for Sale
Low-Rise/Garden
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| Number of Units: |
17 Units |
| Building Size (RSF): |
21,780 SF |
| Sale Price: |
$540,000 |
| Unit Price: |
$31,764.71 Per Unit |
| Sale Terms: |
Cash to Seller |
| Cooperation Compensation: |
2.5% |
| Last Updated: |
4/24/2012 |
| Days on CIE: |
296 |
Great location for and investor. 17 Units mostly 1/1 (2) studios (1) 2/1.
low maintance,nicely caught. Located on Harmon walking distance to UNLV.
All deal terms and commission is subjected to bank approval. All I need
is and offer.
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subjected to bank approval
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CURRENT LAS VEGAS MULTI FAMILY FOR SALE
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Commercial Real Estate Follows Economy Into Recovery
Daily Real Estate News |
Friday, May 18, 2012
In his remarks yesterday at the
Commercial Business Trends Forum during the Midyear Legislative Meetings
& Trade Expo in Washington, D.C., NAR Chief Economist Lawrence Yun
sounded a cautiously optimistic note regarding the state of the
commercial real estate market.
That’s because the commercial sector is so closely tied to the
overall economy, which has been looking up over the past year in many
respects. Specifically, the stock market has regained nearly all the
losses it took in late 2008 and early 2009, Yun said. Also, corporations
are sitting on large cash reserves, and are now looking for ways to
invest that productively.
"The commercial market follows the broader economy with a lag time of
12 to 24 months," he explained. "Statistically, we're out of the
recession. The economy's been improving since late 2009, almost three
years of uninterrupted growth. Now, consumers are opening up their
wallets and beginning to spend more."
Commercial real estate should pick up even more as businesses
continue to grow and hire, Yun said. However, a few significant
challenges remain. The possibility of a default by Greece, as well as
the states of Illinois and California, looms over the financial markets.
Additionally, while the jobs picture has improved somewhat, the
unemployment rate will remain high for the foreseeable future.
Within commercial real estate, financing also remains a problem. Last
year was a tough one to obtain commercial mortgages, and so far 2012
has been too, particularly for smaller-scale companies, Yun said.
"Bigger players have gotten bigger, smaller players have gotten shut
out," he explained.
In his rundown of commercial subsectors, Yun said multifamily and
office are bright spots, with rising leasing costs and falling
vacancies, and New York and Washington, D.C. are the strongest markets,
respectively, for those categories. Industrial and retail are improving
as well, but the turnaround in those areas has been slower.
— Brian Summerfield, REALTOR® Magazine
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3895 Palos Verdes, Las Vegas, NV 89119 Created On: May 17, 2012
SIX-PLEXS
3895 Palos Verdes
Las Vegas, NV 89119
$515,000
NEW
Land SF/$ Per 23,522 / $21.89
Land Size 0.540 acres
Bld SF/$ Per 11,040 / $46.65
# of Buildings 3
# of Units 18
# of Stories 2
Property Description
INCREDIBLE
OPPORTUNITY to purchase 18 units consisting of 3 SIX-PLEXS. Always 100%
occupied. Walking distance to the FABULOUS Las Vegas Strip and
Las Vegas Convention Center. HURRY! this opportunity wont last!!!
PLEASE NOTE there are 3 SIX-PLEXS-18 units
3895 Palos Verdes, Las Vegas,, Nevada 89119
530 McKellar Cir, Las Vegas, Nevada 89119
538 McKellar Cir, Las Vegas, Nevada 89119
ALL 3 apartment homes are within seconds from one another
Area Description
INCREDIBLE
OPPORTUNITY to purchase 18 units consisting of 3 SIX-PLEXS. Always 100%
occupied. Walking distance to the FABULOUS Las Vegas Strip and
Las Vegas Convention Center. HURRY! this opportunity wont last!!!
ALL 3 apartment homes are within seconds from one another
Property Features
* EXCELLENT LOCATION * Always 100% occupied * Walking distance to Las Vegas Strip * CASH FLOW DAY 1 * Easy Management
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LAS VEGAS 248 UNIT STONEGATE APARTMENTS - PUBLIC AUCTION SCHEDULED
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Estimated Size |
10.53 Acres |
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Original Const. Year |
1991 |
Last Sale Price
Month/Year |
44660000
12/05 |
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Land Use |
1-50 RESIDENTIAL APARTMENTS |
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Dwelling Units |
248 |
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352 UNIT SAFARI APARTMENTS - PUBLIC AUCTION SCHEDULED
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Estimated Size |
14.36 Acres |
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Original Const. Year |
1990 |
Last Sale Price
Month/Year |
14700000
10/99 |
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Land Use |
1-50 RESIDENTIAL APARTMENTS |
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Dwelling Units |
352 |
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Donna St. Multi Parcel Sale 16 Units Prepared For: BUYER CLIENTS 2113-2125 Donna St., north las vegas, NV
Donna St. Multi Parcel Sale 16 Units
2113-2125 Donna St.
north las vegas, NV
$449,000
Bld SF/$ Per 960 / $467.71
# of Buildings 8
# of Units 16
# of Stories 1
Cap Rate 13.00%
Vacancy 6%
Area Description Great
Opportunity for 16 Units in Multiple Parcel Sale ONLY - $449,000 for 8
duplexes. All are 1 bed/1bath - 4 Adjacent Parcels . All financials
supplied by owner. Rentals are usually 3 months and then month to month.
Property sold in "As Is" Condition.
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 Silver Spur Hotel
Don t miss out on this lovely hotel that has 24 rooms, 4 studios, and 4
commercial retail shops. Best location and best investment you could ask
for. Please call for
more details.
1502 S. Las Vegas Blvd, Las Vegas, NV 89104 Created On: May 14, 2012
Silver Spur Hotel
1502 S. Las Vegas Blvd
Las Vegas, NV 89104
$1,600,000
Land SF/$ Per 13,504 / $118.49
Property Use Investment
Land Size 0.310 acres
Bld SF/$ Per 12,362 / $129.43
# of Buildings 2
# of Units 28
# of Stories 2
Cap Rate 10.00%
Area Description
North of Sahara Blvd and South of Charleston
Property Features
* 24 Rooms * 4 Studios
* 4 Commercial Retail Shops
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Could Multifamily Lead Single-Family Out of its Recession?
Private Market Lenders, Investors Would Have To Step it Up
May 9, 2012
The nation's housing finance overseer and
Freddie Mac are citing the strong multifamily investment market as a
reason for pushing ahead on their agenda to gradually eliminate
government guarantees in the multifamily sector business and replace
them with new private capital sources well ahead of efforts to begin
unwinding their single-family finance operations.
Earlier this year, the Federal Housing Finance Agency (FHFA), issued
a strategic plan for Freddie Mac and Fannie Mae that envisioned
different kinds of roles for the two big government-sponsored
enterprises (GSE) within the single-family and multifamily financing
business. Doing so, the FHFA argued, could help revive the lagging
housing market.
Unlike their single-family credit guarantee business, the GSEs'
multifamily businesses have performed quite well, generating positive
cash flow. Last year, the GSEs multifamily businesses produced $1.9
billion in net income, with Freddie Mac accounting for 70% of this gain,
as investors poured into the apartment sector. The trend continued in
the first quarter of 2012, with Freddie Mac alone producing $624 million
in multifamily net income.
Share this story with your followers here.
This week, David Brickman, senior vice president of the multifamily
business for Freddie Mac, pressed the case further by outlining other
reasons why multifamily finance should have a separate and distinct role
in housing.
· With fewer people owning homes, Brickman said there is a clear need to support more rental housing.
· Private capital is beginning to flow back into the multifamily market.
· The business processes and systems for single-family and multifamily financing and development are not alike.
· Multifamily might aid in the recovery of single-family housing by
transforming the large volume of distressed single-family properties
into rental housing.
But for such a plan to work, the private sector would have to step
up their role significantly in multifamily finance, CoStar Group's
financial analysts argue.
In the past decade, the GSEs have played an important role in
high-quality collateral underwriting and securitization, while
lower-quality multifamily collateral was often securitized by conduit
issuers, according to CoStar analyst Otto Aletter. However, even most of
the better quality tranches of the private conduit issuers were created
specifically for Fannie Mae and Freddie Mac to buy, increasing the role
of the GSEs in the multifamily securitization market across the risk
spectrum leading up to the credit crisis, both as originators and
investors.
Since the crisis, GSEs have increased their dominance of the CMBS
issuance market even more. This year, GSE issuance is on track to
outpace 2011 and pre-crisis levels. While it's a dominant role, it also
demonstrates the continuing strength of the multifamily market, Aletter
said.
According to Freddie Mac's Brickman, during the economic crisis,
most forms of private capital quickly beat an exodus from the
multifamily market. That is now changing.
"Recently, the demand for multifamily housing has increased
occupancy rates, operating income, and property values, creating an
attractive environment for new sources of capital," Brickman argued this
week. "For instance, at Freddie Mac, since the beginning of 2011,
private investors have purchased $18 billion in new multifamily bonds of
ours. Life insurance companies, bank conduits, and real estate
investment trusts also have demonstrated increased investment activity.
Going forward, the increasing availability of debt and equity capital
makes possible a broad range of possibilities for the multifamily
market, including us."
"I like that Brickman explicitly says that it has been private
investors who purchased $18 billion of their issuance," CoStar's Aletter
said. "One of my concerns was that the GSEs could be quietly buying
back a lot of their issuance simply due to the preference for holding
CMBS rather than individual loans in their portfolios.
"The resurgence of multifamily securitization demonstrates that
investor demand is much stronger for multifamily debt than for debt in
other property types," Aletter continued. "Multifamily issuance
accounted for approximately 62% of all conduit and GSE issuance in 2011,
in contrast to approximately 21% in 2006."
Because of that investor demand, Aletter argues, "with a slow and
deliberate removal of government conservatorship in the GSE multifamily
business and a clearer regulatory environment, other market participants
and the privatized agency businesses could absorb the lending gap in
most markets with minimal marginal costs to borrowers, establishing a
healthier foundation for multifamily lending."
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31-Unit Motel in Downtown Las Vegas
813 East Ogden Avenue
Las Vegas, NV 89101
$299,000
Land SF/$ Per 6,534 / $45.76
Property Use Any
Zoning C-2, General Commercial
T, R, S -, -, -
Land Size 0.150 acres
Bld SF/$ Per 8,496 / $35.19
# of Buildings 1
# of Units 31
# of Stories 2
Cap Rate -
Vacancy -
Property Description
Exclusive opportunity to purchase a 8,496 square foot, 31-unit motel building (currently not operating)
constructed
in 1963 located in Downtown Las Vegas. The Property is situated just
one block north of Fremont St. on the eastern edge of the Fremont East
Entertainment
District. Additionally, the site is within walking distance of the
Fremont St. Experience casino corridor, providing excellent
accessibility to surrounding
amenities, including public
transportation. Convenient freeway access to US-95 and the I-15 is
available at the Las Vegas Blvd. interchange. Downtown Las Vegas
is
currently undergoing revitalization, spearheaded by Tony Hsieh moving
the Zappos headquarters, including 1,200+ employees, to Downtown Las
Vegas.
Property Features
* ±8,496 SF building consisting of 30, ±227 SF studio units and one
manager s unit * Situated within the Downtown Las Vegas Redevelopment Area
* ±75 feet of frontage on East Ogden Ave.
* Just one street north of Fremont St. and a few blocks east of the
Fremont St. Experience and Las Vegas Blvd.
* Convenient access to the US-95 and I-15 Freeways via the Las
Vegas Blvd. interchange
* Downtown Las Vegas is undergoing revitalization, highlighted by
Zappos relocating its corporate headquarters
* On the eastern edge of the Fremont East Entertainment District
* Opportunity to renovate and operate the motel or hold as longer term investment
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LAS VEGAS QUALITY INN - PUBLIC AUCTION SCHEDULED
LOAN $ 2 730 000
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Estimated Lot Size and Appraisal Information |
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Estimated Size |
1.50 Acres |
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Original Const. Year |
1997 |
Last Sale Price
Month/Year |
3544000
09/04 |
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Land Use |
3-21 COMMERCIAL MOTELS |
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Dwelling Units |
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LAS VEGAS 59 UNIT COMFORT INN - PUBLIC AUCTION SCHEDULED
LOAN $ 2 400 000
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Estimated Size |
1.66 Acres |
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Original Const. Year |
1996 |
Last Sale Price
Month/Year |
3390000
11/03 |
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Land Use |
3-21 COMMERCIAL MOTELS |
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Dwelling Units |
59 |
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20 Unit Sunrise Apartments
2300/2304 Sunrise Ave.
Las Vegas, NV 89101
$399,000
Property Description
This multifamily has been rehabbed by the bank with advertised rents at
$475-/month. Twenty one bedroom units with no deferred maintenance
issues and ready
to move in units for qualified tenants. Please call for a tour to see this property.
Area Description
This
multifamily is situated on the east side of Las Vegas in the heart of
the redevelopment area and near the downtown Las Vegas strip. Near bus
lines and
elementary schools.
Property Features
* Rehabbed Units * REO * Professionally Managed * Secured Gate * Parking Stall front and back * One Bedrooms * Large Floor Plan * Downtown Las Vegas * 520 SF units * granite counter tops
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