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SUNCREST TOWN HOMES
Contacts
Vernon Allamby
Project Documents Download
SUNCREST TOWN HOMES
Doc's
Address
3349 LUNAR SKY STREET, NORTH LAS VEGAS, NV 89032
Date Added
Mar 27, 2021
Property Details
Property Type
Town Home
Square Foot
158,688
Year Built
2008
Stories
2
6.5%
Offer Cap Rate
Present Use
Unit Count
Minimum Invst
Proposed Offer
Estimated Closing
Rental
93
$100,000
$16,900,278
$475,007
Development Details
P Property Type
P Square Foot
Improvement
Construction Type
Develp Term
Town Home
Not Changed
$2.1mill
Stucco
2 Yrs
Proposed Use
P Unit Count
Total Cost
Purchase & Resale
93 units
$23,066,319
Market Detail
Location Type
Population
Area Median Inc
Growth Rate
Sububan
450,297
$67K
2.98%
Condo Comps
Units Sold 90 Days
Units On Market
Unit Average Sale
151
21
$292,321
Unit Average Per SqFt.
$171
Rental Comps
Available Rental Units
Zip Code
35
89032
Unit Average Rent
Unit Average Sq Ft.
$1018
1686
Project Financials
P Mortgage Int
Term
Proposed LTV
Proposed Equity
Loan Type
4.5%
2 Yrs
60%
$3,583,745
Interest Only
U-Sale/Rent Comp Avg
U-Comps Per SqFt
Projected Net of Sales
Projected ROI
Projected IRR
$292,321
$171
$5,894,730
164%
42%
Project Plan and Notes
In the last 30 days North Las Vegas has experienced 249 home sales. 246 of those sales were between $220k and $390k with more than 70% selling within 30 days of hitting the market. In the same time 149 homes have come to market with 126 of those homes in the similar price range of homes sold. At this rate the current inventory will be extinguished in approximately 15 days. Low interest rates, limited supply and growing population continue to fuel a significant demand for single family residence and at the present rate there does not appear to be an immediate end in sight.
These facts are why we believe the Suncrest Townhome community portfolio of 93 individually taxed units is a unique offering for your purchase consideration and the numbers speak for themselves.
For more information and supporting financials please review our suggested and proposed offering plan.