Athol Apartments Multyfamily Investment Opportunity
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ATHOL APARTMENTS MULTYFAMILY INVESTMENT OPPORTUNITY RICHARD CRIGHTON CHRIS BROWN ROTHWELL GORNT COMPANIES Stunning Modern Design Built in 1988 1 OOo/o Occupied Remodeled Units to Class A Standards Tile Floors Quartz Counters Stainless Steel Appliances Brand New Roof in 2017 Brand New Parking Lot Phase 1 Complete Extra Large units Central HVAC Surrounded by Thousands of Business/Jobs _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 COMPANIES CHRIS BROWN - (702) 445.1330 ATHOL APARTMENTS 1638, 1640, 1644 Athol Ave, HENDERSON, NV 89011 Property Overview: The ATHOLApa rtment Complex located in Henderson Nevada consists of 28 total units, 20 EXTRA large 1 bedroom apartments built in 1988 and 8 Studio apartments built in 1954. If you are looking for a carefree investment with absolute minimal expenses and tenants that actually mail in their rent and have pride of ownership, look no further. The buildings have been completely renovated with a brand new roof on each building, even the storage building, brand new parking lot, modernized exterior that has every passerby stopping to take pictures and attracting a waiting list of tenants. The building is currently 100% occupied. The units themselves are extremely spacious with almost half being renovated to Class A standards with 100% tile floors, quartz counter tops and stainless steel appliances. The location and zoning consists of mixed use in the City of Henderson allowing for multi-family, retail, industrial and more. The property itself is immediately adjacent to the Skyline Casino which just completed a ten million dollar renovation and Best Western Hotel to the South which just completed it's renovation. It is less than 1/2 mile off of a major thoroughfare Boulder Highway and Sunset to the North and Lake Mead to the South allowing access to both the 1-215 freeway and the 1-95 freeway. The property is within 2.5 miles of Galleria Mall, Sunset Station, Jokers Wild Casino, Wal-Mart, Target, Ross, Downtown Henderson and much more. Infrastructure for jobs, retail and dining is abundant making the property unique in it's immediate location, but beneficial for tenants as a global picture. The management for Athol Apartments has been so easy that off-site management is in place and tenants mail in their rent or bring it to the management office. ,tllQ\ .A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 FINANCIALS FINANCIAL SUMMARY ATHOL APARTMENTS, HENDERSON NV 2016 ACTUAL ANNUAL EXPENSES City of Henderson - Water $11,700.93 - Republic service - Trash $3,243.00 - Nevada Power co - Electric $5,843.69 - . Insurance $8,058.00 . Taxes $7,895.85 - Plumbing $589.00 Appliances $400.00 . Management/ Officesupply $12,000.00 lTOTALANNUAL EXPENSES ____________._____ $49,730.47 � .A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 BROMLEY APARTMENT PHOTOS CornucopiaAve ESunset Rd ESunset Rd Galleria at Sunset 0 �Rd e 00 ;e_" l\>- ,;$ ;:ES:: ' 3:: 3:: . Whitney Ranch ;::: c}> .. (!) m���g Rexford Dr () � ESt Shopping Center () g; a� (!)a. > � ,g !!: c.. :, ci l> 3· o Jefferson Blvd TabonyAve I �� ��ft> (!)< ., � 0 The Home Depot ;;; j .fr' �"' DutchmanAve TargetO a', Q (!�) PITTMANN r- :I:" W Sunset Rd ()Sears Outlet W Sunset Rd WSunset Rd '21, W Merlayne Or <w E Merlayne Or E Merlayne Or m :,Q ::, G) z � 0 Ahern Rentals 0 ln·N-Out Burger .(- .sterAve .. ;§" .,:, C,Skyline Hotel & Casino \-\ \icl<Ave S;' � a. 0 =, � �G-� BarrettSt 'l"e :,., Sunset Station c, Eastgate 0 � • � ,i;J<sonDr !!1 ,. Hotel & Casino 1638Athol Avenue \.OngtreeAve 'S !/2 '!)\\etonDr Walmart Supercenter 0 11 min drive - home EngelAve v Cape HornDr Cape Hom Dr () 0 Galleria Commons ERollySI "J � CloseAve z !/2 ZuberAve W Warm Springs Rd �gs Rd =, W Warm Springs Rd :,.. The Great Greek ;;;· G)Mediterranean Grill !a � 'ilc· Adobe Ranch Warm Springs . Aubrey Sp,JngsAse 'll- Apartment Homes O Promenade () � Barby Sp<ings St � 0 <n Hills St Q <n GlJokersWi <$- � 'O 'O <n "' <:< <n ir m @ I $' �,,, ., <n ..a. <> c � ., ;;; 0 0 villa serena apartments � .c:"' -1!: & :I: � � � 0 It,,,,,, ;., CLt a. ., u. j llrrnSprings Rd � <n � ::; z Winter SolsticeAve Evening canyonAve o Or Cl1ppertonAve O Findlay Toyota <n Ta !!l �oint Or bori-m, � ea\ Trail C ,,.ve anyon Rd )YO � ;:; C:"' o011.6 Sports sno"'oiwe 8 -�can'l E t>-U\0 ,pJex 11a' l/l <$ � Misty Rose-'l � Nevada State � ve C: Touro G -4 .!l! 0 University-Nevada High School (!) !!!. 1l Ventana Canyon � � c3 G 0 0 !/2 'iij z Apartments a, I rnerstone Park Paci\ic O American Pacific Or American Pacific Or American CornerstoneO ;;; 0 � Walmart � Gibson Center O g. m Jeighborhood Market 0 z Mary Crest Rd Lake Mead Crossing 0 Raising Cane's ID. � ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 f Sunpac Avo \Q � 2. 5 M,l.1..,6�IO E Sunset Rd COSTCO TobonyAvo Outchm.on Avo ,.. f E Mcr1oynoOr � z WSuns.,tRd 0�� i Si' - ,0 I OAhern Rentals1.5 Mli.ES TO a. Guilf0<d4- �,o�ckAvo AbbyA"" <) THE 1-2152FREEWAf Barron St � "' # � �.,� ' \"" ,onOr -,J U66h&iibi 1638 Alhol Av•nu• \.OOQlrCCAvo ; ., Engel Avo (j" �,-s' 'S�tonOr SUBJECT_...,� , '\, 0 O Gallerla Commons "1.5 MILES TO WALMART PROPERTY <I) E RollySI §''JI � Close Ave 2.5 MILES TO ZuberAve GREEN�tg,'f:ff�H SCHOOL "ll w worm Spungo\ Rd �--i� W warm SpringsRd sci1--.91 Pr)"O<PI -o 1 0 KingSt §" jz � � � �� v m G>Jokers @) Ovilla serene apar1ments 4 MILES TO S.>nti.>g<>Or THE 1-95 FREEWAY & �6�c 0 O Findlay Toyota ,,._,<"' Arroyo <:1', Grande Sports "1-.,,.,1» Complex "ll Nevada State Touro 0 High School University-Nevada �, J' 0 j i:,.<- Ventana Canyon G 4 z <:.>"" Apar1ments 0 •:;,_.. ., Gr,ff,s Cornerstone Park Pec\llC or • ,o{> Amcncon Pacific Or AmCOcon Pac1f1c Or American �� Cornerstone O � if¢ Wal�r1 J Gibson Center 0 ff> Neighborhood Market .,, z M.-iryCrest Rd Lake Mead Crossing 0 Cornerstone Park lflSAW Ra1smg Cane·s (DChicken Fingers .,_,.rl Vista Landscape � O Centers. Inc. w,ov<">"' ODream Apar1ments ...' ...-- _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 ...' -- ---�v=-»_ / _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 .tC;\ _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 .tC;\ _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 - � . �--:..=--�- ��-- _ ___ ,- � ,:.. - _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 .tC;\ _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 .tC;\ _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 COM PARABLES Lease Information In addition to the properties presented on the previous pages, individual units similar to the subject units were researched for leasing information. The table below summarizes details of recent lease agreements of comparable units. The lease information is sorted by lease date. Comparable Unit Lease Details # .Address Unit# Rent�lo. BuildingType Size (SF) Beds/Baths Yr. Bit. LeaseDate Lease 639 AnneLn 0 $775 Condo 724 1/1 1995 10/26/2016 Lease 342 South \Vater St 3 $595 Apartment 650 1/1 1962 1/4/2017 Lease 267 E VanWagenen St 267 $620 To\\inhouse 551 1/1 1971 1/27/2017 Lease 342 South Water St 3 $595 Condo 650 1/1 1962 2/3/2017 Lease 639 AnneLn 0 $775 Condo 724 1/1 1995 2/15/2017 Lease 408 East Sunset Rd D $795 Fowple.x 750 2/1 1983 4/12/2017 Lease 332 Van Wagenen St NIA $575 Condo 450 1/1 1971 4/21/2017 Lease 726AnneLn 78C $775 Condo 724 1/1 1994 4/24/2017 Lease 408 East Sunset Rd C $795 Fowple.x 750 2/1 1983 4/24/2017 Lease 357 E Van \Vagenen St 0 $650 Condo 551 1/1 1971 5/4/2017 Lease 147 Van Wagenen St 147 $750 To\\rnhouse 551 1/1 1971 6/9/2017 Lease 480 Rexford Dr 3 $595 Apartment 624 Studio 1950 6/13/2017 Lease 5903 Whitney Ave 0 $600 SFR 396 1/1 1940 7/1/2017 Lease 5919 Cassedy Ln B $550 Duplex 400 Studio 1949 7/14/2017 Lease 308 Eastminister Ct D $600 Apartment 715 2/1 1979 7/28/2017 Lease 308 EastministerCt E $500 Apartment 400 Studio 1979 8/12/2017 Lease 357 E Van \Vagenen St 0 $700 Condo 551 1/1 1971 8/21/2017 Lease 5320 Duralite St 102 $650 Condo 724 1/1 1996 9/6/2017 _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 � COMPANIES CHRIS BROWN - (702) 445.1330 NEIGHBORHOOD DESCRIPTION Location The subject neighborhood is located approximately 1 O miles south and southeast of downtown Las Vegas, and is generally delineated by the following boundaries: North: Sunset Road East: Lake Mead National Recreation Area South: Black Mountain Range West: Interstate 15 The majority of the neighborhood is within the City of Henderson boundaries, but also includes unincorporated portions of Clark County and a section of Paradise Valley Township. Henderson comprises the majority of the southeast Las Vegas Valley and includes the majority of the population in the area. Most of the developments that have an impact on the area are within the city limits of Henderson, including large well-established master-planned communities. Statistical data for the city of Henderson is primarily presented as it provides the best indications of the trends seen in the neighborhood . _A\ ROTHWELL GORNT RICHARD CRIGHTON - (702) 768.5755 COMPANIES CHRIS BROWN - (702) 445.1330 Information on population, housing and income for the City of Henderson are presented in the following tables: CITY OF HENDERSON POPULATION BY ZIP CODE HISTORICAL POPULATION TRENDS AND