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CASE STUDY

Prime Towers

Market: Las Vegas, NV
Built in: 1974
Units: 210
Acquired: January 2018

Property Characteristics

Just minutes from the Las Vegas ‘Strip,’ Prime Towers is a highly desirable 10-story midrise rental community in close proximity to multiple exclusive shopping centers, major freeways, public transportation hubs, and the University of Nevada. The property offers spacious apartments of up to 3 bedrooms, a 24-hour fitness centre, Pet Park, and covered parking lot.

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Improvements Applied

One of the most attractive components of this investment opportunity was the clear potential of rent upside through strategic renovations and improved management. Renovations included the lobby, the pool area (including a new outdoor kitchen, furniture, and fire pit), adding private patios to all ground-level units, and modernizing the property’s elevators. These projects gave the property the best amenities package of its competitive set. Unit interior renovations included resurfaced cabinets, vinyl flooring, new stainless steel appliances, and baseboards, among other improvements.

Property Gallery

 
m1 capital

M1 Capital is a real estate investment company focused on institutional quality, well-located multifamily assets where opportunities exist to maximize inherent value and drive the upside potential.

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