Lau Family Acquires Lake Mead Estates for $5.9M

http://www.costar.com/News/Article/Lau-Family-Acquires-Lake-Mead-Estates-for-$59M/157503

Archive
CoStar Advisor Newsletter
Most Viewed
News Feeds
Lau Family Acquires Lake Mead Estates for $5.9M
G&S Investors Sells 160 Units in Las Vegas
By Mike LaPointe
February 24, 2014
Share on facebookShare on twitterShare on linkedinMore Sharing Services
1
EmailPrint
Lau Family Partners acquired the Lake Mead Estates multifamily complex at 2068 N. Nellis Blvd. in Las Vegas, NV from G & S Investors Lake Mead LLC for $5.91 million, or about $37,000 per unit.

The 144,000-square-foot, ten-building, garden-style apartment community was delivered in 1986 on seven acres in the Outer North Las Vegas / Sunrise Manor submarket of Clark County. It totals 160 one- and two-bedroom units with asking rents between $525 and $599 per month. At the time of sale, the asset was 31 percent vacant.

Devin Lee and Patrick Sauter of NAI Vegas represented the seller, and were the sole brokers in the sale.

Please see CoStar COMPS #2954590 for more information on this transaction.