A City with Above Average Rent Growth + Opportunity Zone Tax Benefits = Your Investment Dream Come True
- May 10, 2019
According to the National Real Estate Investor’s recent post, the national average of average apartment rents has continued to grow through March 2019 by 3.2% and 24 of those cities saw rents spike the most in March 2019 compared to the period a year earlier.
Of those 24 cities, we have North Las Vegas, NV and Las Vegas, NV.
Meet Palos Verdes Apartments:
A Seven-Unit, Garden-Style Apartment in Las Vegas – Paradise, NV.
The Property is located walking distance to the Las Vegas Monorail, allowing the community easy access to employment centers throughout the region and is just one mile to the Las Vegas strip and two miles from Interstate 15.
The Property is also located within an Opportunity Zone, providing substantial income tax benefits to a new sponsor for substantial improvements.
Though the property is currently vacant, there is significant value-add opportunity for both tax benefit purposes and return on investment due to its location in an opportunity zone of a city with above average rent growth.
A recent Cushman & Wakefield | Thalhimer #CREINSIGHTS report boasts that the optimal investment window to maximize the opportunity zone tax benefits is between now and the end of 2019.
If you’re looking to maximize your return for the year of 2019, consider bidding on the Palos Verdes Apartments in the June 12th Sale Event on RealINSIGHT Marketplace, an online CRE auction platform.
About RealINSIGHT Marketplace:
RealINSIGHT Marketplace (Marketplace) was launched in 2017 to provide the commercial real estate industry an easier and more transparent way of selling assets. It allows sellers to expedite the sales process while having more control of the sales terms, and buyers the ability to underwrite assets quickly while competing in a more transparent sales process.
Marketplace has sold over $2B in CRE since launching, of which, $169MM were multifamily assets.
Looking to sell a Multifamily Property of your own?
Multifamily assets do incredibly well on Marketplace due to the wealth of information available to investors and the competitive bidding process. On average, a multifamily sale on Marketplace will have 12 registered bidders and almost 100 interest parties. Additionally, multifamily asset sales prices are averaging 110% of mean broker provided values.
Multifamily sellers are attracted to the platform because of the robust marketing campaigns conducted by Marketplace which lead to superior results. Sellers can watch the effectiveness of Marketplace’s marketing efforts in real time via the Seller Dashboard and are kept up to date on weekly marketing calls.