Las Vegas cashflow property offering
I am offering one or more property for sale from my Las Vegas property fund. I want to buy these properties myself, but the GSEs will not fund a non-arm’s length transaction for an investment property, so I must sell them. However, I will offer to buy back any of these properties personally for full purchase price after 90 days if any buyer is not satisfied.
Las Vegas is still 40% below the peak, so restricted inventory will persist for quite a while, making for above average appreciation. The returns stated below are cash returns that do not reflect the likely 5%+ appreciation in this market over the next several years.
The details are as follows:
3532 Diamond Belle Ct., Las Vegas, NV 89129, a 1,412 SF 3/2.5 from 2004. Asking $147,500, rents for $950, 4.8% cap rate, 7.2% cash-on-cash return.
4262 Valley Spruce Way, North Las Vegas, NV 89032, a 1,440 SF 3/2 from 1992. Asking $157,500, rents for $1,000, 5.0% cap rate, 7.8% cash-on-cash return.
5410 Pomeroy Circle, Las Vegas, NV 89142, a 1,260 SF 3/2 from 1983. Asking $127,500, rents for $927, 5.9% cap rate, 11.7 cash-on-cash return.
All these properties are currently rented with long-term tenants. No renovation is necessary, and you will have cashflow from the date of purchase. I highly recommend staying with the property management company, Best Management, I use in Las Vegas.
For more details, click on the links above or email me at [email protected]