PRIME TOWERS is a 210-unit highly desirable 10-story midrise rental community in the heart of Las Vegas. This unique building has a modern design floorplans with unmatched views of the world famous Las Vegas “Strip” and surrounding mountains.
Prime Towers offers spacious one, two and three bedroom apartment homes with fully equipped modern kitchens, upgraded finishes, oversized windows and ample closet space. Residents enjoy a 24 hour fitness center, pet park, covered parking and the convenience of an elevator.
The Towers are located in an outstanding location which is minutes away from the Las Vegas “Strip” and provides residents with access to major freeways, multiple shopping centers, the University of Nevada, Las Vegas (UNLV), public transit routes, the Las Vegas Monorail, the Union Pacific Railroads and McCarran International Airport. The acquisition ($22,500,000) and renovation of the towers provides higher-than-market projected returns.
The Las Vegas multifamily market is one of only a few markets in the country where the significant economic recovery is just beginning. Nevada outpaced the national average in job growth rate, ranking 7th in the country in 2016 with year-over-year growth of 3.4%. Looking forward, Nevada has a projected job growth rate of 2.9% for 2017, while the national average is projected to be 1.7%, according to CBRE Economic Advisors. Unemployment rate in Las Vegas stands at 5.1% as of January 2017.