Apartment complexes selling fast in Las Vegas
- 5 years ago
With renters filling apartments, buyers can’t get enough.
Las Vegas’ apartment vacancy rate is among the smallest in the country, and rents are climbing faster than the national average. In May, investors bought five Las Vegas Valley apartment complexes for $260 million combined. In July, a Southern California real estate investors acquired the 512-unit Foothill Village, 6255 W. Tropicana Ave. at Jones Boulevard, for $50 million. In October a California developer bought two neighboring apartment complexes near Nellis Air Force Base for more than $60 million combined. Also in October, a Southern California investment firm bought the 540-unit Cornerstone Crossing for $49.75 And in December, the same Southern California real estate firm bought the 314-unit Evergreen complex for $29.5 million With others in between.
Las Vegas’ apartment vacancy rate is among the smallest in the country, and rents are climbing faster than the national average. In May, investors bought five Las Vegas Valley apartment complexes for $260 million combined. In July, a Southern California real estate investors acquired the 512-unit Foothill Village, 6255 W. Tropicana Ave. at Jones Boulevard, for $50 million. In October a California developer bought two neighboring apartment complexes near Nellis Air Force Base for more than $60 million combined. Also in October, a Southern California investment firm bought the 540-unit Cornerstone Crossing for $49.75 And in December, the same Southern California real estate firm bought the 314-unit Evergreen complex for $29.5 million With others in between.