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The Oasis Apartments 5333 Bethel Lane, Las Vegas, Nv 89119

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The Oasis Apartments 5333 Bethel Lane, Las Vegas, Nv 89119 FOR SALE THE OASIS APARTMENTS 5333 BETHEL LANE, LAS VEGAS, NV 89119 RUSSELL ROAD LAS VEGAS BOULEVARD SITE Michael Stuart Mike Mixer, Executive Vice President Executive Managing Director +1 702 836 3739 +1 702 836 3777 ASKING PRICE: $19,000,000 [email protected] [email protected] License # NV-S.0028088 License # NV-B.0021557.LLC PROPERTY IS LOCATED IN A QUALIFIED OPPORTUNITY ZONE CONFIDENTIALITY AGREEMENT © 2019 Colliers International This Confidential Offering Memorandum (the “Memorandum”) is being delivered exclusively by Colliers International (the “Agent”) to a party who may be interested in the acquisition of the The Oasis Apartments (the “Property”), described in this Memorandum. This is a private offering, made only by delivery of a copy of the Memorandum to the recipient (the “Recipient”). By accepting this Memorandum, the Recipient agrees to comply strictly with the terms and conditions of the Confidentiality Agreement previously executed and delivered to the Agent by the Recipient with respect to this Memorandum and all information contained herein, and to use this Memorandum only for the purpose of evaluating the offering made hereby. The material contained in this Memorandum is provided solely to assist the Recipient in determining whether it is interested in making an investigation or evaluation concerning a potential purchase of the Property. Neither the Agent nor any affiliates or client of the Agent which term includes related entities, the owners of any equity interest in the Property, (“Owner”), the manager of the Property (“Manager”), and any officers, employees and agents of any such parties make any representations or warranties with regard to the accuracy or completeness of the information contained herein. This Memorandum may include statements and estimates provided by the Agent, the Owner, or the Manager with respect to the anticipated future performance of the Property. Nothing contained in this Memorandum should be construed as a representation as to the future performance of the Property, and the Recipient acknowledges and agrees that any statements or estimates relating to future performance reflect various assumptions concerning the Property’s anticipated results, which may or may not prove to be correct. No representations are made as to the accuracy of such statements and estimates, and none of the Agent, the Owner, the Manager, or any related entities shall have any liability with respect to or arising from any inaccuracy in such statements or estimates. Statements made in this Memorandum as to the content of any contract or other document referred to, are not complete or definitive descriptions, but summaries or portions thereof. Each such statement is qualified by its reference to the full text of the contract or document, copies of which will be made available by the Agent to Recipient upon request. In addition, not all contracts or other documents, which may be relevant, have been summarized or referenced in this Memorandum. This Memorandum is being delivered by the Agent to a prospective purchaser with the understanding that it will independently investigate those matters which it deems appropriate in evaluating the Property and will rely solely on its own investigation in determining whether to purchase the Property. This Memorandum does not constitute an offer to sell, or a solicitation of an offer to buy, an interest in the Property in any jurisdiction in which, or to any person for which, such offer, sale, or solicitation would be unlawful. Except where otherwise indicated, the information contained in this Memorandum has been prepared as and no obligation is assumed to supplement or modify the information to reflect subsequent events or conditions. Nothing contained in this Memorandum may be construed to constitute legal or tax advice to a Recipient concerning the Property or purchase of the Property. More detailed information regarding the expected terms, conditions, and timing of the offering of the Property will be provided in due course by separate communication with each Recipient. The Agent, the Owner and the Manager reserve the right to engage in discussions or negotiations with one or more recipients or other prospective investors at any time without notification to, or other obligation to, any other Recipient or prospective investor. The offering made hereby is subject to a change in terms or termination without notice. The Owner and the Manager will remain free to operate the Property in their sole and absolute discretion during the evaluation and offering process, including the taking of such actions, whether within or outside of the ordinary course of business, which the Owner or the Manager shall deem necessary, prudent or desirable. The Agent reserves the right to require the return of this Memorandum and any other material provided to the Recipient at any time. Acceptance of this Memorandum by the Recipient constitutes acceptance of the terms and conditions outlined above. Michael Stuart Mike Mixer, Executive Vice President Executive Managing Director +1 702 836 3739 +1 702 836 3777 [email protected] [email protected] License # NV-S.0028088 License # NV-B.0021557.LLC FOR SALE THE OASIS APARTMENTS 5333 BETHEL LANE, LAS VEGAS, NV 89119 TABLE OF CONTENTS 05 08 EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS 12 13 TOP GROWTH MARKET MONORAIL EXPANSION SITE 15 APPENDIX OFFER PROCESS LAS VEGAS MARKET OVERVIEW LAND ON THE LAS VEGAS STRIP SOUTH LAS VEGAS BOULEVARD 3RD LARGEST 4TH LARGEST 4,408 ROOMS 4,008 ROOMS 2ND LARGEST 4,752 ROOMS HACIENDA AVENUE SITE LAS VEGAS BOULEVARD RUSSELL ROAD COLLIERS INTERNATIONAL – THE OASIS APARTMENTS – INVESTMENT OFFERING EXECUTIVE SUMMARY Colliers International is pleased to present an opportunity to purchase The Oasis Apartments, Las Vegas Strip. The greatest density of hotel rooms and guests are within four blocks of the site. Additionally, the property is within walking distance, approximately ½ mile, from the Las Vegas Raiders’ new $1.9B stadium, which will open in 2020. The subject property is a 127-unit apartment complex situated in 16 two story buildings. The property has a swimming pool and a laundry facility. The property is surrounded LARGEST 5,690 ROOMS with concrete block perimeter walls and has typical interior landscaping. The apartments consist of two floor plans, 55 one bedroom, one bathroom units with approximately 681 square feet and 72 two bedroom, two bathroom units with approximately 1,013 square feet. The leasing office is located in one of the two bedroom units. UNIT SIZE # of Units Unit Type Size (SF) Total (SF) 55 1 Bed/1 Bath 681 37,455 72 2 Bed/2 Bath 1,013 72,936 127 Average 869 110,391 NET RENTAL INCOME FOR 2017 $1,163,081 NET INCOME FOR 2017 $377,000 MORE INFORMATION AVAILABLE UPON REQUEST 6.31 TOTAL ACRES Located adjacent to 4 of the 5 largest hotels in North America 5 ZONING H-1 – Limited Resort and Apartment District, Clark County. The H-1 Limited Resort and THE SOUTH VIEW OF THE PROPERTY WILL Apartment District is established to provide for the development of gaming enterprises, compatible commercial, and mixed commercial and residential uses, and to prohibit the BE UNOBSTRUCTED FOREVER BECAUSE THE development of incompatible uses that are detrimental to gaming enterprises. BUILDABLE HEIGHT LOWERS GOING SOUTH Unlike other major urban centers, Clark County does not have floor area restrictions that establish a maximum number of buildable square feet. This site lends itself to a very dense ON LAS VEGAS BOULEVARD. mixed-use project capitalizing on the many uses permitted under the existing zoning. FAA APPROVED HEIGHT ALLOWANCE UP TO 505 FEET The Federal Aviation Administration (FAA) has provided determination letters for the Site approving a height of 505 Feet fronting Las Vegas Boulevard and decreasing to 354 feet on the eastern portion of the site. 6.31 ACRES 6 FAA APPROVED HEIGHT ALLOWANCE UP TO 505 FEET LAS VEGAS BOULEVARD RUSSELL ROAD COLLIERS INTERNATIONAL – THE OASIS APARTMENTSD – INVESTMENT OFFERING FOR SALE THE OASIS APARTMENTS 5333 BETHEL LANE, LAS VEGAS, NV 89119 INVESTMENT HIGHLIGHTS RARE OPPORTUNITY TO OWN A PRIME DEVELOPMENT SITE ON THE LAS VEGAS STRIP. THE SUBJECT PROPERTY IS AN INCREDIBLE OPPORTUNITY TO OWN THE BEST AVAILABLE DEVELOPMENT SITE ON LAS VEGAS BOULEVARD (THE “STRIP”), WHICH IS ONE OF THE MOST ICONIC STREETS IN THE WORLD. THE PROPERTY IS LOCATED IN A QUALIFIED OPPORTUNITY ZONE. Much of the Strip has been developed with world famous hotel-casinos, retail offerings and tourist attractions capitalizing on the more than 42 million annual visitors to the city. There is a limited amount of land available for development on the Strip and just like beach front property, they are not making any more of it. Las Vegas is currently experiencing a renaissance and has surpassed pre-recession metrics as it relates to visitor volumes and overall revenues generated. This renaissance has spurred an extraordinary amount of investment activity ($14+ billion) that is projected to help continue the upward trend in the number of visitors coming to the city and the amount of money those visitors are spending. COLLIERS INTERNATIONAL – THE OASIS APARTMENTS – INVESTMENT OFFERING SITE THE LOT LAS VEGAS BOULEVARD 3RD LARGEST 2ND LARGEST 4,408 ROOMS RUSSELL ROAD 4,752 ROOMS HACIENDA AVENUE 9 18 OF THE 30 LARGEST RESORTS IN THE WORLD ARE ON THE STRIP FOR SALE THE OASIS APARTMENTS 5333 BETHEL LANE, LAS VEGAS, NV 89119 10 COLLIERS INTERNATIONAL – THE OASIS APARTMENTSD – INVESTMENT OFFERING LAS VEGAS – A TOP GROWTH MARKET Las Vegas is poised for significant long-term growth. The region continues to benefit from billions of dollars of public and private investment, large-scale infrastructure projects, corporate relocations and expansions and record-breaking visitation levels. In addition to the recently completed expansion of the Mandalay Bay Convention Center and the planned expansion of the Las Vegas Convention Center, McCarran International Airport recently underwent a $2.4 billion expansion to increase the airport’s annual capacity by 11 million passengers.
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