18 Dec Avenue North sell Yardz at Mirabelli for $23,350,000 in Las Vegas, NV
NorthMarq’s Las Vegas and Phoenix investment sales team of Thomas Olivetti, Vice President, Trevor Koskovich, President, Bill Hahn, Executive Vice President and Jesse Hudson, Senior Vice President brokered the sale of the Yardz at Mirabelli Apartments on December 18th, 2020.
The 168-unit multifamily property is located at 6250 Hargrove Avenue in Las Vegas, Nevada. NorthMarq represented both the buyer, Nitya Capital, LLC and the seller, Avenue North, LLC.
“Yardz at Mirabelli was a recently repositioned asset as the previous owner invested over $1.3 million into capital improvements,” says Olivetti. “The property was primed to increase revenue through a strategic proven interior upgrade program and installation of washers and dryers.”
“Northmarq did an exceptional job finding a qualified buyer who saw the opportunity to invest further in the community,” says Hartman.
“The central location and affordable rents should provide a good foundation for the buyer to continue to push value. In the meantime, we will continue growing our multifamily development platform in the build for rent space, as well as seek existing value-add opportunities in multifamily and mobile homes.”
Yardz at Mirabelli, built in 1984, is strategically located within minutes to the popular Summerlin submarket, downtown Las Vegas, and the Las Vegas Strip.