308 N 14th St, Las Vegas, NV, 89101

308 N 14th St Las Vegas, NV 89101

308 N 14th St, Las Vegas, NV, 89101
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,099,999
Last Verified:
Jan 16, 2024

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Highlights

  • Development Site
  • Opportunity Zone
  • Downtown Redevelopment Zone
  • Pre-Construction work begun

Description

Paul Macaluso president of Multifamily investments at Simply Vegas commercial is proud to present the 308 N 14th St purposed apartments located in the submarket of Downtown Las Vegas. The 308 Apartments is a small multifamily development opportunity.

This development opportunity offers investors the opportunity to execute on a long term hold strategy and realize returns as well as tax benefits through development of the subject property. With continued demand for multifamily housing in the Downtown submarke,t 308 apartments will be the perfect addition and compliment to the Cities downtown redevelopment plans along with the States development of its opportunity zones.

308 apartments will be a total of 19 units once completed with a 0:1 parking ratio approved by the City. The planned unit mix for the 308 apartments will be 19 efficiency studios floor plans with a total square footage of 4854. Continued growth and demand for multifamily living in Downtown Las Vegas allow new ownership to complete a project located in one of the strongest submarkets of Las Vegas as well as the nation.

For additional information such as construction bid, site plans, renderings, area rental survey and pro-forma underwriting report please visit the documents tab on the dedicated property website. For those interested in discussing the possible acquisition of this development opportunity please contact Paul Macaluso president of Multifamily investments at Simply Vegas Commercial directly.

CAP RATE IS INCORRECT, TRUE CAP AFTER DEVELOPMENT IS COMPLETED SHOULD BE APPROXIMATELY 8.5%

The subject property is located on N 14th with the major cross streets being Stewart Ave & Maryland parkway. Ease of access to major transportation arteries such as I95, I15 and I215 are all within minutes of the subject property. Shopping, dinning and entertainment options are all within close proximity to the subject property as well as schools of all grade levels.


Year Built: 2024
Building Size: 4845sq ft
Lot Size: 0.15 acres


Documents

308 Apartments Brochure

Map of 308 N 14th St, Las Vegas, NV, 89101

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.