These are the type of properties America 2030™ seeks to purchase as syndicated investments. None of the properties on this page were purchased, sold, brokered or otherwise controlled, managed or owned by America 2030™, nor does America 2030™ make any representation that buildings such as these could be purchased by the fund.

192-Unit Class A Garden Style Multifamily Community - Las Vegas, Nevada
 

 192-Unit Garden-Style Community – Las Vegas, Nevada

 Project Overview: Sample Property C was built in 2007 and is a 192-unit, garden-style apartment community located in Las Vegas, Nevada. The community is comprised of eight three-story buildings on 7.39 acres positioned in a resort style atmosphere with an all inclusive clubhouse, oversized one and two bedroom floor plans with optional stand alone garages. The property offers a diverse unit mix with one, two, and three bedroom floor plans with and average size of 1,010 square feet.`

Project Location: Desert Shadows is well located at the signalized intersection of West Charleston Boulevard and Brush near Jones Boulevard. This area is home to many major retailers such as Wal-Mart Super Center, Lowe's Home Improvement, Michaels, Smart & Final Long John Silver, A & W, Taco Bell, Burger King and many others. In addition, the traffic counts are very strong and exceed 42,000 cars per day and are steadily increasing due to the growing number of businesses in the area. Desert Shadows is one mile east of one of the largest junior college in the state of Nevada. The apartment community sits about three miles west of the Famous Las Vegas strip and within two miles of Interstate 95 and Interstate 15.

Property Purchase Price: $25,700,000

Potential Equity Investment: $8,700,000

Investment Analysis Summary:

• Institutional Quality Asset. Sample Property B is a class “A” apartment complex located in one of the strongest submarkets in Las Vegas, Nevada. The property consists of 192 units in 8 buildings offering residents a resort style atmosphere with an all inclusive Clubhouse, oversized one and two bedroom floor plans with optional stand alone garages. Interior features include gourmet kitchens with full stainless steel appliance packages, granite counter tops, full size washer/dryers, walk-in closets, private patio/balconies, garden style tubs and 9 foot ceilings.
• Above Market Rents. The community was earmarked to be a condominium community, however, the condominium market evaporated throughout the country in the spring of 2007 causing the owner/developer to convert the condominiums to a rental income asset. Because the original development was a condominium community, the interior and exterior of the property are higher end finishes and amenities, which will allow the owner to receive above market rents. At the time of this offering, occupancy was 40% with expectations of 100% by the end of April 2008. The developer has agreed to guarantee rental income of the current market average for an unspecified number of months as incentive to the buyer.
• Competition. The Las Vegas rental market remains strong with a 96% average occupancy rate and average rental rates for one, two, and three bedrooms of $809, $981, $1,127, respectively.
• Strong Demographics. The community is positioned in a high growth submarket of Las Vegas, with over 532,681 people within a five mile radius. The population has increased approximately 20.01% since 2000 and is expected to increase to 600,000 by 2012. The median household income is $50,568 compared to the US average of $51,680. It is estimated that the median household income will increase to $56,688 by 2012, which represents a 12.10% increase.

These are the type of properties America 2030™ seeks to purchase as syndicated investments. None of the properties on this page were purchased, sold, brokered or otherwise controlled, managed or owned by America 2030™, nor does America 2030™ make any representation that buildings such as these could be purchased by the fund.