The real estate investment platform RealtyMogul is providing accredited investors with access to a private equity real estate investment in a manufactured housing community in Las Vegas, NV, with an 18.5% target internal rate of return (IRR) and a 12.5% target cash-on-cash return.
West Valley MHC is a 4-star, institutional investment quality community in the Spring Valley submarket of Las Vegas, NV. The property has 411 developed sites with average site rent of $811 per month.
The sponsor intends to complete a value-add strategy that involves increasing the number of occupied sites, increasing rents and further boosting the net operating income with reduced operating costs.
Investment Highlights: The property is located within one of Las Vegas’s strongest housing submarkets, within a 5-minute drive from the Las Vegas Strip and the region’s highest-grossing retail and commercial centers.
Las Vegas is currently one of the top 5 rated rental markets in the U.S. in terms of rent growth and demand, which is fueled by a diversified resident base and a fast-growing technology sector.
- Minimum investment: $35,000
- Target investor IRR: 18.15%
- Target equity multiple: 1.51x
- Target average cash yield: 12.5%
- Target investment term: 3 years
Deal Sponsor: The investment opportunity is being offered by Prairie LaSalle Partners. The company was formed to execute value-add investments in the manufactured housing and workforce development space.
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