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BLAKE LEAVITTDirector, Investment Sales Broker0: 702.809.8387C: [email protected] #BS.0145665.LLC - NV #PM.0167704
LAS VEGAS, NV
PRESENTED BY:
OFFERING MEMORANDUM
The Ogden #1116
OFFERING MEMORANDUM
KW COMMERCIAL10000 W. Charleston Blvd,Ste. 130Las Vegas, NV 89135
Each Office Independently Owned and Operated kwcommercial.com/commercial/ 2
OFFERING MEMORANDUM
Confidentiality & DisclaimerLAS VEGAS, NV
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness ,veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived,or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and othermatters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independentprofessionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KWCommercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any partyregarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that maybe provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with acertified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies withapplicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by LasVegas NW in compliance with all applicable fair housing and equal opportunity laws.
KW COMMERCIAL10000 W. Charleston Blvd,Ste. 130Las Vegas, NV 89135
PRESENTED BY:
BLAKE LEAVITTDirector, Investment Sales Broker0: 702.809.8387C: [email protected] #BS.0145665.LLC - NV #PM.0167704
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors shouldconduct your own investigation of the property and transaction.
Each Office Independently Owned and Operated kwcommercial.com/commercial/ 3
ABOUTKW Commercial:KW Commercial, the commercial real estate arm of Keller Williams Realty, the largestreal estate company in North America, is no stranger to success. Our commercial teamconsists of the most knowledgeable, results- driven brokers backed by the mostinnovative and scalable technology the commercial real estate industry has to offer.Our KW Commercial agents and brokers are held to the highest standard of businessto exceed our clients’ needs in virtually any market nationwide.
An agent-centric company, our mission is “to build commercial careers worthhaving, businesses worth owning and lives worth living.” KW Commercialassociates have the training, technology, marketing tools and resources to serve theirclients at the highest level. Our agents work harder because their work directlyinfluences their bottom line.
KW Commercial agents are located in over 800 offices nationwide, includingsecondary and tertiary markets. This means wherever you need a commercial agent,there is one there for you. With this many locations, we are never far from where ourclients need to be.
WHYHire KW Commercial for Multifamily:
▪ More than 2,000 brokers in over 800offices, including tier 2 and 3 cities in49 states
▪ State-of-the-art transaction process▪ Higher net monies to field agents
▪ No conflicts of interest▪ Secure online service portal▪ Largest network of residential
brokers▪ Over $9.2 billion in transaction
volume in 2019I provide the very highest level of service to multifamily owners and investors withsuperior market knowledge and can deliver valuation and analysis of market trends. Ihave expertise in sales, acquisition, development, finance and valuation, whichextends to conventional apartment properties, condo development and conversions,student housing and residential income development land.
Whether you are selling a single asset or national portfolio, I provide you withunparalleled market information, brokerage advisory, acquisition, disposition andfinancial guidance to help you achieve the highest level of results. If expanding yourportfolio is the objective, I can help you identify and acquire properties which meet orexceed your investment goals. Multifamily services include:
▪ Finding the right propertymanagement company
▪ Providing current rental and vacancydata
▪ Assessing local rent controlissues
▪ Assisting with tenant leasing
Why KW
THE OGDEN #1116 |
www.kwcommercial.com/commercial/ 4
PROPERTY INFORMATION
1 | PROPERTY INFORMATION
EXECUTIVE SUMMARY
PROPERTY DESCRIPTION
PROPERTY DETAILS
ADDITIONAL PHOTOS
ADDITIONAL PHOTOS
ADDITIONAL PHOTOS
1PROPERTY INFORMATIONTHE OGDEN #1116
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com/commercial/ 5
OFFERING SUMMARY
SALE PRICE: $434,999
NUMBER OF UNITS: 1
CAP RATE: 4.18%
NOI: $18,183
LOT SIZE: 0 Acres
YEAR BUILT: 2007
BUILDING SIZE: 1,509
RENOVATED: 2017
ZONING: Multi Family Condo
PRICE / SF: $288.27
PROPERTY OVERVIEWTurnkey renovated high rise with city and mountain views in The Ogden! WOW! Immaculate modern style with hardwood and tilefloors, two-tone paint, granite counters, stainless steel appliances, a balcony that overlooks the city, and amenities galore.Includes 2 parking spots! Developer inventory has recently sold out. This is the lowest priced Lurie model for sale in the building.Priced below sale comps! Make your offer today!
PROPERTY HIGHLIGHTS• High quality property in a prime location in Downtown Las Vegas with amazing city views
• Property features Concierge, Community Pool and Spa, Lounge and BBQ Area, Concierge, Fitness Center, Guest Parking,and 24 hour Security
• Attractive financing available at only 5% down for owner user, or 20% down for investment.
• Listing Broker is able to assist Investors in assembling rental portfolios of multiple condos.
Executive Summary
THE OGDEN #1116 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com/commercial/ 6
PROPERTY OVERVIEWTurnkey renovated high rise with city and mountain views in The Ogden! WOW! Immaculate modern style withhardwood and tile floors, two-tone paint, granite counters, stainless steel appliances, a balcony that overlooksthe city, and amenities galore. Includes 2 parking spots! Developer inventory has recently sold out. This is thelowest priced Lurie model for sale in the building. Priced below sale comps! Make your offer today!
LOCATION OVERVIEWFrom 95 and Las Vegas Blvd, S on Las Vegas Blvd, L on Ogden, R on 6th St, R into parking garage, park inGuest Parking spots.
Property Description
THE OGDEN #1116 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com/commercial/ 7
SALE PRICE $434,999
LOCATION INFORMATIONBuilding Name The Ogden #1116
Street Address 150 Las Vegas Blvd North #1116
City, State, Zip Las Vegas, NV 89101
County/Township Clark
BUILDING INFORMATIONBuilding Size 1,509 SF
Year Built 2007
Last Renovated 2017
Load Factor Yes
PROPERTY DETAILSProperty Type Multifamily
Property Subtype High-Rise
Zoning Multi Family Condo
Lot Size 0 Acres
APN# 139-34-613-077
Property Details
THE OGDEN #1116 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com/commercial/ 8
Additional Photos
THE OGDEN #1116 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com/commercial/ 9
Additional Photos
THE OGDEN #1116 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com/commercial/ 10
Additional Photos
THE OGDEN #1116 1 | PROPERTY INFORMATION
www.kwcommercial.com/commercial/ 11
LOCATION INFORMATION
2 | LOCATION INFORMATION
LOCATION MAPS
2LOCATION INFORMATIONTHE OGDEN #1116
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com/commercial/ 12
Location Maps
THE OGDEN #1116 2 | LOCATION INFORMATION
www.kwcommercial.com/commercial/ 13
FINANCIAL ANALYSIS
3 | FINANCIAL ANALYSIS
FINANCIAL SUMMARY
INCOME & EXPENSES
UNIT MIX SUMMARY
ADVISOR BIO & CONTACT 1
3FINANCIAL ANALYSISTHE OGDEN #1116
OFFERING MEMORANDUM
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INVESTMENT OVERVIEW
Price $434,999
Price per Unit $434,999
GRM 15.1
CAP Rate 4.2%
Cash-on-Cash Return (yr 1) 4.18 %
Total Return (yr 1) $18,183
Debt Coverage Ratio -
OPERATING DATA
Gross Scheduled Income $28,800
Other Income $0
Total Scheduled Income $28,800
Vacancy Cost $0
Gross Income $28,800
Operating Expenses $10,617
Net Operating Income $18,183
Pre-Tax Cash Flow $18,183
FINANCING DATA
Down Payment $434,999
Loan Amount -
Debt Service -
Debt Service Monthly -
Principal Reduction (yr 1) -
Financial Summary
THE OGDEN #1116 3 | FINANCIAL ANALYSIS
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INCOME SUMMARY PER SF
Gross Income $28,800 $19.09
EXPENSE SUMMARY PER SF
HOA (Includes Gas, Trash, Water, Sewer) $7,980 $5.29
Insurance $500 $0.33
Property Tax $2,137 $1.42
Gross Expenses $10,617 $7.04
Net Operating Income $18,183 $12.05
Income & Expenses
THE OGDEN #1116 3 | FINANCIAL ANALYSIS
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UNIT TYPE COUNT%
TOTAL
SIZE
(SF)
$/SF/
YR
$/SF/
MONTH
ANNUAL
RENTRENT RENT/SF
MARKET
RENT
MARKET
RENT/SFDEPOSIT
RACK
RATEDESCRIPTION
2-Bedroom 1 100.0 1,509 $0.00 $2,400 $1.59
Totals/Averages 1 100% 1,509 $0.00 $0.00 $0 $0 $0.00 $2,400 $1.59 $0
Unit Mix Summary
THE OGDEN #1116 3 | FINANCIAL ANALYSIS
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PROFESSIONAL BACKGROUND
Blake Leavitt is a Director and Investment Sales Broker at KW Commercial – Keller Williams Realty The Marketplace I. He is amillennial real estate broker using the power of technology to sell real estate for top dollar like never before. Blake has over 9years of experience as a broker and as an investor. He has lived in Las Vegas, Nevada since 1992 experiencing multiple realestate market cycles and fluctuations. Living here for over 27 years, Blake is an expert on the Las Vegas market and knowsevery area very well down to specific zip codes and neighborhoods. He specializes in residential and multifamily investmentsales, 1031 exchanges, and structuring the debt and equity on these transactions for maximum yield. Blake continuouslynetworks with buyers and sellers to leverage business relationships and bring deals to the finish line.
Favorite Quote:“A positive mindset produces a positive income.”
Awards:Top Producer, Wardley Real Estate 2019. #1 Agent in Units and Volume, Wardley Real Estate 2019.Top Producer, Wardley Real Estate President's Circle 2018. #1 Agent in Units and Volume, Wardley Real Estate 2018.
EDUCATION
University of Nevada, Las Vegas (UNLV)Business Management2010-2014
MEMBERSHIPS & AFFILIATIONS
Commercial Alliance Las Vegas (CALV)National Association of REALTORS© (NAR)Las Vegas REALTORS© (LVR)
BLAKE LEAVITTDirector, Investment Sales Broker
10000 W. Charleston Blvd, Ste. 130Las Vegas, NV 89135T 702.809.8387
C 702.809.8387
NV #BS.0145665.LLC
Broker Bio
THE OGDEN #1116 3 | FINANCIAL ANALYSIS
