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Rancho Drive Apartments MULTI FAMILY OPPORTUNITY
RICHARD CRIGHTON
CHRIS BROWN
ROTHWELL GORNT COMPANIES
PERFECT SINGLE STORY
10 PLEX- FULLY OCCUPIED
.A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330
Single Story 1 O Plex
Instant Cash-Flow
Fantastic Location
Large Kitchen areas
Fantastic Frontage on Rancho
Directly Across from Casino to Appeal to Employees as Tenants
.A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330
RANCHO APARTMENTS COMMUNITY DESCRIPTION
HIGHLIGHTS: Rancho Apartments
GREAT Single Story Complex, GREAT Location
Rancho Drive
Property Overview:
The 1 O unit apartment complex located with frontage
on Rancho directly next to the Wildfire casino is an
excellent opportunity to enter the Las Vegas
multi-family business. The property is 100%
occupied with opportunity to raise the rents
significantly and increase cash flow.
Do not miss this rare opportunity
t'C\
_1!\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330
PROFORMA FINANCIALS
Current Financials
3165-000 RESIDENTIAL RENTAL INCOME 3358-000 ADJUSTED FOR 5% VACANCY 3460-000 RENTAL INCOME 3650-000 OTHER INCOME
13700-000 INCOME
4295-000 PROPERTY MANAGEMENT EXPENSES 4397-000 MARKETING/ RETENTION 4695-000 MAINTENANCE & REPAIR 4795-000 TURNOVER EXPENSES 4895-000 UTILITIES 5199-000 TAXES & INSURANCE
I5350-ooo OPERATING EXPENSES
15400-000 NET OPERATING INCOME
1853 N. Ranch Drive Apartments
Annual Budget
Budget Per Unit
66,600 6,660.00 (3,330) (333.00)
63,270 6,327.00
63,270 6,327
2,200 220.00 5,220 522.00 7,420 742.00
55,850 5,585.00 893,600 6.25% 908,130 6.15% 923,140 6.05% 930,833 6.00%
t'C\
_1!\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330
Market Rent
3165-000 3358-000 3460-000 3650-000
13700-000
4295-000 4397-000 4695-000 4795-000 4895-000 5199-000
I5350-ooo
15400-000
RESIDENTIAL RENTAL INCOME ADJUSTED FOR 5% VACANCY RENTAL INCOME OTHER INCOME INCOME
PROPERT Y MANAGEMENT EXPENSES MARKETING/ RETENTION MAINTENANCE & REPAIR TURNOVER EXPENSES UTILITIES TAXES & INSURANCE OPERATING EXPENSES
NET OPERATING INCOME
2 Bedroom Market Rent $800@ Mth 1 Bedroom Market Rent $600@ Mth
1853 N. Ranch Drive Apartments
Annual Budget
Budget Per Unit
88,800 (4,440)
84,360
84,360
2,200 5,220 7,420
76,940
8,880.00 (444.00)
8,436.00
8,436
220.00 522.00 742.00
7,694.00 1,231,040 6.25% 1,251,057 1,271,736
6.15% 6.05%
1,282,333 6.00%
t'C\
_1!\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330
APARTMENT PHOTOS
RANCHO DRIVE APARTMENTS PHOTOS
Exterior of the Apartments
.A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330
,.
Falcon Landing ft Luxury Apartmeots Y
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• W Smok.• Ranch Rd
Ed Fooma1n Park
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2.2 MILES TO
NORTH LAS VEGAS AIRPORT
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COM PARABLES
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Subject Property 1853 N.Rancho Dr, Las Vegas, NV 89106.
Sale Price $1,000,000
Year Built 1953
No Units 10
Price/ unit $100,000
Occupancy 100%
Cap N/A
787 E Harmon Ave Las Vegas NV 89119
Sale Price $2,200,000
Year Built 1980
Building SF 18,096
No Units 32
Price/ unit $137,500
Occupancy 100%
Cap N/A
.A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330
La Esperanza Apartments
900-1208 E Carey Ave.N . Las Vegas, NV 89030
Sale Price $2,040,000
Year Built 1962
Building SF 46,833
No Units 68
Price/ unit $120,000
Occupancy N/A
Cap N/A
133 Ida Ave. Las Vegas, NV 89109
Sale Price $1,600,000
Year Built 1963
Building SF 4,624
No Units 16
Price/ unit $100,000
Occupancy N/A
Cap N/A
.A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330
804 S 3rd St Las Vegas, NV 89101 Sale Price $1,490,000
Year Built 1963
Building SF 7,370
No Units 12
Price/ unit $124,167
Occupancy N/A
Cap N/A
Sale Price $1,150,000
Year Built 1957
Building SF 7,100
No Units 10
Price/ unit $115,000
Occupancy N/A
Cap N/A
.A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330
LAS VEGAS ECONOMIC GROWTH
PT's Pubs to buy Stratosphere
Golden Entertainment is reaching new
heights with its latest acquisition.
The operators of the PT's Pubs tavern
chain popular in Southern Nevada is
acquiring the company that owns four
casinos, including Stratosphere, for
$850 million.
The cash and stock deal with American
Casino & Entertainment Properties also
includes two Arizona Charlie's properties
in Las Vegas and the Aquarius in Laughlin.
When the deal closes, Golden will
operate more than 15,800 slot
machines, 114 table games and more
than 5,100 hotel rooms across eight
casino properties and almost 1 ,000
distributed gaming locations, including
the largest branded tavern portfolio
in Nevada.
Las Vegas Raiders Stadium
The Raiders are building a 65,000-seat,
$1.8 billion indoor stadium at Interstate
15 and Russell Road using $750 million
of public money authorized by the N
evada Legislature.
"When we lose some of the stigma
associated with the original idea and
shock that we would be the exclusive
brand associated with gaming, when
gaming becomes ubiquitous and
Las Vegas becomes just another
town with a hockey franchise and
a football franchise, one of the
benefits we're going to have is that
one of the best sectors that we're
really gaining ground in is business
services," Lang said
LAS Vegas hotel projects
Marriott lnternational's plan to open two I
uxury hotels at Las Vegas' long-stalled
Fontainebleau site could finally provide
crucial energy for a stretch of the Strip's
north end that has been largely dormant
for the better part of a decade.
Quiet since 2009 because of recession-era
construction delays, the project is slated
to open in 2020 as the Drew Las Vegas,
a 4,000-room integrated resort that will
include a JW Marriott and a hotel under
Marriott's Edition brand, as well as a third
eponymous hotel, the Drew, which will be
overseen in part by ex-Cosmopolitan
Las Vegas CEO John Unwin.
In addition to a casino, restaurants and
nightclubs, the Drew will offer more than
500,000 square feet of convention and
meeting space.
t'C\ ci ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 COMPANIES CHRIS BROWN - (702) 445.1330
c.l