It's Time to Acquire a Downtown Las Vegas Apartment Building

With the way everything is going, and with Downtown Las Vegas in need of housing, here is an opportunity for a small investor to make some money.

OK, you could make a lot of money, but you have to be patient. (If you are NOT patient, you won't make any money.)

a 42 unit apartment building, that had a fire, will begin renovation at the end of September, 2020.  The contractor says it will take him six to nine months to repair, renovate and improve the fire damaged building.

The Alpine Motel Apartments

That's right!  The Alpine Studio Apartment building is ripe with profit!  IF you make an offer now, let it sit in escrow while being repaired, then close upon it's completion.

And, if you wait too long, once fully occupied at +/-$900 per month per unit, the market value of this apartment building becomes +/-$4.2 million or more!  (That would be your loss!)

Now, right now, you could put this property in escrow at $3.3 Million, wait for the construction to be completed, then close before leasing.  And the Close of Escrow could be contingent upon the City of Las Vegas approving residents occupying the building once again.

Questions?

Contact David Howes: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

Two to Go!

Of the 21 listings I had, I still have 2 remaining.

The Owner of these properties wants way too much money for three of his plex properties.

And, he did overturn a rock to find a local agent who said he could get him his price.
The plex properties are is such dire straits that he will have to sell at Value Add pricing.  But, since he's stubborn and thinks they are worth retail, he bought the whole sleazy agent spiel of how he can get him his price. (Not going to happen.)

The Owner will be back in due course, since I am: "The only broker who's ever told him the truth!" (His words.)

However, I still have his motel and studio apartments listed and hopefully, with the activity I am receiving, will get these into escrow fast.

We'll see.

At $1.5 Million for a 30 unit motel with a manager's quarters, that should be the first to sell.

Starlite Motel

And, at $3.3 Million for a rebuilt 42 unit studio apartment building, that should sell quickly, too!

(I am NOT surprised that a lot of developers are offering low ball pricing for it.  But, they know that once the rebuild is complete, it will be worth more.)

Alpine Motel Apartments

If you are considering Las Vegas as a spot for your real estate investment dollars...
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

SUBPOENA'd!

It took nearly 30 years to finally be Subpoena'd as a witness in a case on a listing of mine.

Now, I wasn't trying to get subpoena'd.  It just happened because I was the Listing Broker for the Alpine Motel Apartments when a tenant used his studio apartment stove to heat his unit last December 21, 2019.

Aerial of Alpine Motel Apartments

Yes.  Six persons died that day from smoke inhalation.
And numerous persons received injuries while escaping the smoke filled building.

Now, next Tuesday, I have been subpoena'd to appear as a witness.  Since I am on the Owner's side, I am going to tell the truth, and nothing but the truth.

So, I will be okay.

Now, if interested in this or any other Las Vegas property (other than residential homes, etc.)...

Contact David Howes by email: davidATdavidhowesDOTnet OR telephone; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!