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Investment Opportunity www.payitforwardrealty .com Pay It Forward Realty Cerrito Apartments Las Vegas, NV

Cerrito Apartments Las Vegas, NV › d2 › OOA373s3VsCY6JFO30Cdb... · 2019-03-21 · Cerrito Apartments Las Vegas, NV 209 N 11th St NV 89101. Cerritos Apt Notes ... -Property is

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Page 1: Cerrito Apartments Las Vegas, NV › d2 › OOA373s3VsCY6JFO30Cdb... · 2019-03-21 · Cerrito Apartments Las Vegas, NV 209 N 11th St NV 89101. Cerritos Apt Notes ... -Property is

Investment Opportunity www.payitforwardrealty.com Pay It Forward Realty

Cerrito Apartments Las Vegas, NV

Page 2: Cerrito Apartments Las Vegas, NV › d2 › OOA373s3VsCY6JFO30Cdb... · 2019-03-21 · Cerrito Apartments Las Vegas, NV 209 N 11th St NV 89101. Cerritos Apt Notes ... -Property is

Investment Opportunity www.payitforwardrealty.com Pay It Forward Realty

Contact Information

Bradley PetersenBroker / Owner SSG, Army [email protected] # B.1001960714.855.8184

All information provided is subject to change.

Please confirm details with listing agent.

Please do not disturb current occupants.

Page 3: Cerrito Apartments Las Vegas, NV › d2 › OOA373s3VsCY6JFO30Cdb... · 2019-03-21 · Cerrito Apartments Las Vegas, NV 209 N 11th St NV 89101. Cerritos Apt Notes ... -Property is

Investment Opportunity www.payitforwardrealty.com Pay It Forward Realty

Cerrito Apartments Las Vegas, NV

209 N 11th StNV 89101

Page 4: Cerrito Apartments Las Vegas, NV › d2 › OOA373s3VsCY6JFO30Cdb... · 2019-03-21 · Cerrito Apartments Las Vegas, NV 209 N 11th St NV 89101. Cerritos Apt Notes ... -Property is

Cerritos Apt Notes

207th N 11th Street (30 studio units and a single 1/1)APN 139-35-211-053

1108 East Ogden Ave (1 SFR and parking lot)APN 139-35-211-054

-PIQ is located in the OPPORTUNITY ZONE for huge tax incentives.-30 Studio units plus an attached 1/1 manager unit plus a 1/1 SFR (32 Total Units)-One storage container on site.-Units are considered Single Room Occupancy (SRO) meaning each studio has a full size refrig-erator, but no kitchen sink and no stove. Microwaves are allowed. There is a community kitch-en.-Property is located on the North East Corner of 11th and Ogden-Ogden 1/1 is 682 SF and 11th Street are 31 units and approx. 9,000 living SF-Close to Zappos HQ and downtown Container Park in the East Fremont District-Recently completed Environmental Phase 1 Report in Feb 2019-Recently completed Property Inspection report in March 2019.-Current owner has owned since 2008.-16 tenants have been there more than one year with the longest tenant occupying since 2008-100% Occupancy-VCT Flooring-Original Electric and plumbing-Foam Roof completed between 2009-2010-Currently appr. 10 parking spots but could be over 20 if lot was cleared.-2 separate parcels sold together-.48 acres for both lots-Owner pays all utilities-Year Built: 11th Street (31 Unit Main Building) built in 1963 and Ogden (1/1 SFR) was built in 1930

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Cerrito Apartments

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Actual Expenses Actual Income Pro Forma Income*Maintenance $16,000**Management (5%) $11,328Insurance $5,7692019 Property Tax $5,407TV Dish $3,504Pest Control $7,320Electric $15,382Gas $1,862Water $5,568Sewer $6,512Trash $3,612Total Expenses $82,264

Gross Annual Rent $226,560 $244,800Gross Annual Laundry $1,200 $1,200Gross Annual Income $227,760 $246,000Vacancy (6%) $13,594 $17,136Effective Gross Income (EGI) $212,966 $227,664Net Operating Income (NOI) $130,702 $145,400Sales Price $1,750,000 $1,750,000Unit Price $54,687.50 $54,687.50CAP Rate 7.47% 8.31%GRM 7.68 7.11Price Per Square Foot $194.44

Cerrito Apartments Financial Summary

*Maintenance is an estimate at $500 per unit / per year

DO NOT DISTURB TENANTS. PLEASE CALL FOR ADDITIONAL INFORMATION.***Property management is an estimate at 5%

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Cerrito Apartments Financial Summary

Page 6: Cerrito Apartments Las Vegas, NV › d2 › OOA373s3VsCY6JFO30Cdb... · 2019-03-21 · Cerrito Apartments Las Vegas, NV 209 N 11th St NV 89101. Cerritos Apt Notes ... -Property is

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Cerrito Apartments 2018 Rent Roll

Page 7: Cerrito Apartments Las Vegas, NV › d2 › OOA373s3VsCY6JFO30Cdb... · 2019-03-21 · Cerrito Apartments Las Vegas, NV 209 N 11th St NV 89101. Cerritos Apt Notes ... -Property is

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Cerrito Apartments 2017 Rent Roll

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Cerrito Apartments 2018 Expenses

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BATHROOM

BEDROOM

17'

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CERRITO'S ROOM

CLOSET

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Cerrito Apartments Layout

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Cerrito Apartments

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Cerrito Apartments

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Cerrito Apartments

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First and foremost I am a proud father to a beautiful little girl. I’vebeen involved in real estate for the last 15 years and have brokeredover $50,000,000 in SFR, multifamily and land deals. I also fliphouses and build new construction homes for myself and my busi-ness partner. I own several homes and apartment units that Iself manage. I am also the broker of record for a large propertymanagement company. We manage 1800 units over $350,000,000 in real estate assets in Victorville, CA and the surrounding areas.I have my CA broker’s license and my NV broker’s license. Iproudly served 11 years with the Army and completed 2 deploy-ments to Afghanistan. I’m a strong advocate in giving back toour communities and will donate10% of my commissions to yourfavorite charity. I love real estateand believe it is the one guaran-teed path to financial indepen-dence.

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Broker Biography