SUNCREST TOWN HOMES

Town Home

Las Vegas

NV

89032

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 

Unit Average Per SqFt. 

151

21

$292,321

$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.