Marcus & Millichap Arranges the Sale of a 148-Unit Apartment Building

Marcus & Millichap announced the sale of Casa Del Sol, a 148-unit apartment property.LAS VEGAS, NV – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Casa Del Sol, a 148-unit apartment property located in Las Vegas, NV, according to Justin C. White, regional manager of the firm’s Las Vegas office. The asset sold for $7,700,000.

Perry White, Vice President Investments and Brett S. Beck, an investment specialist in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust,limited liability company.

Casa Del Sol is located at 5100 Obannon Drive in Las Vegas, NV.  The property is a 148-unit, garden style, class C, two story multi-family apartment. The property was constructed in 1977 with pitched tile roofs and offers 56 one-bedroom/one-bath, 52 two-bedroom/one-bath, 28 two-bedroom/two-bath, and 12 three-bedroom/two-bath units for rent. The asset is situated on 6.08 acres and has a total of 124,072 rentable square feet. The property offers 65 surface and 152 covered parking spaces. The ratio is 1.73/1,000 square feet; 1.47 per unit.  According to Beck, “the Las Vegas market is white hot.  There is a plethora of buyers looking for value add opportunities and there is no better firm than Marcus & Millichap to source such properties.

About Marcus & Millichap

With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com

UNITED STATES: · Atlanta · Austin · Bakersfield · Birmingham · Boise · Boston · Brooklyn · Charleston · Charlotte · Charlotte Uptown · Chicago Downtown · Chicago Oak Brook · Chicago · O’Hare · Cincinnati · Cleveland · Columbia · Columbus · Dallas · Denver · Detroit · Encino · Fort Lauderdale · Fort Worth · Fresno · Houston · Indianapolis · Iowa · Jacksonville · Kansas City · Lafayette · Las Vegas · Little Rock · Long Beach · Los Angeles · Louisville · Manhattan · Memphis · Miami · Milwaukee · Minneapolis · Nashville · New Haven · New Jersey · New Mexico · Newport Beach · Oakland · Oklahoma City · Ontario · Orlando · Palo Alto · Philadelphia · Phoenix · Pittsburgh · Portland · Providence · Raleigh · Reno · Sacramento · Salt Lake City · San Antonio · San Diego · San Francisco · St. Louis · Seattle · Tampa · The Woodland · Tucson · Tulsa · Washington, D.C. · West Los Angeles · Westchester

CANADA: · Calgary · Toronto · Vancouver