City View Apartments is a 112-unit property located in the West-Central submarket of Las Vegas and is poised to take advantage of the recent surge of nearby activity. Constructed in 1977, City View is a quaint community that offers proven renovation upside in both floor plans, ample common areas, a pool, and a lightly renovated clubhouse.

Las Vegas was the number one metro for rent growth in 2018, recording 7%+ growth. Las Vegas also recorded rent growth of 6%+ in 2016 and 2017. With the strong rent growth in Las Vegas, City View has been able to prove out $130 per month lifts in rents through a light interior improvement plan, while remaining "under market". Renovations include countertops, appliances, baseboards, paint, and hardware.

The West-Central submarket continues to be a proponent of higher rental rates as newer assets begin value-add campaigns & luxury projects continue to be developed in the immediate vicinity. Rent comps like the Sedona Ridge and Tower at Tropicana have rental rates $150-$200 per month higher than the renovated rates at City View. Sales in the submarket are exceptionally strong as well. The Green Leaf Lotus Apartments, less than one mile away, recently sold for $261,016.95 per unit. The 1988-vintage "Sequoia Meadows", just 0.9 miles away, recently sold for $163,602.94 per unit. Additionally, nearby Chinatown is experiencing a BOOM in the retail sector, as there proves to be huge demand to live, work, & eat in this corridor. Population growth in this pocket is projected at 9.41% through 2023

Cushman & Wakefield is pleased to present a unique opportunity to obtain a ±4.10 net acre multifamily development site located at CityNorth within the Desert Ridge Master Plan, adjacent to High Street and Desert Ridge Marketplace, at the northwest corner of 56th Street and the 101 Freeway, in Phoenix, Arizona, known as CityNorth. CityNorth is currently walkable to over 50 restaurant concepts, and is planned to include over 2 million square feet of corporate office and 1,000 hotel rooms. Service completion at the infrastructure and start of the Sunela apartments, (The Phase 1 Multifamily development), multiple groups have committed projects-including (The Phase 2 Multifamily development), 3 restaurants, 2 hotels, Republic Services, 240,000 square foot headquartered with more in negotiations. Desert Ridge currently includes 20,000 existing homes, 3,000 additional homes under construction, 4,000 existing luxury multifamily units, 1,163 units currently under construction, resorts, restaurants and entertainment. Desert Ridge caters to over 1,317,898 daytime employees and 1,994,009 residents within a 30-minute drive time. The CityNorth office development will provide over 3,000 new jobs to the community.

Cold Storage Lofts is a 226-unit value-add opportunity, originally built in 1922 and converted in 2007. Located in the thriving River Market area of Kansas City, Missouri, the apartment community was recently renovated.

This asset is located in the revitalized downtown Kansas City area, less than a quarter-of-a-mile from City Market approximately 500 feet from the KC Streetcar. The River Market area has been a major component of the ongoing renaissance in downtown Kansas City, with both new construction multi-family projects and historic renovations delivering over 1,000 during the past decade with more on the way. This area has established a track record of drawing residents and maintaining high occupancy rates.

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Crescent at Chevy Chase, a newly constructed asset located in Chevy Chase, Maryland, one of the wealthiest suburbs in the broader DC metro area. The Property is located squarely in the path of growth, as it is just a 5-minute walk to the Connecticut Avenue Purple Line stop, which is currently under construction and will be delivered in December 2027, providing transit access from New Carrollton to downtown Bethesda. This transit expansion will provide easy access to the haven of amenities in downtown Bethesda, which has over 1.7M SF of retail space and is the home of numerous Fortune 500 companies. The property’s location also allows for easy access to I-495 and I-270, providing access to the bulk of suburban Maryland’s prominent federal and regional employers, including the NIH, Marriott International Headquarters, Walter Reed National Medical Center, Suburban Hospital, Lockheed Martin, and the broader I-270 Biotechnology Corridor which is the pre-eminent research corridor in the country with over 300 biotech companies and more than 50,000 employees. The demographics within a one-mile radius of the property are among the best in the region, as median household income, bachelor’s degree attainment, and white-collar employment all exceed those of Montgomery County and the Washington DC MSA. On top of this, the average monthly mortgage payment needed for the median home sale price in Chevy Chase is 146% higher than the average effective rent in the Chevy Chase submarket, further driving foot traffic to rental housing. The property was constructed to LEED certification standards, resulting in a full county tax abatement through 2028, boosting the property’s appeal and value for future ownership. Crescent at Chevy Chase is an ideal opportunity to acquire a best-in-class asset in a dynamic location with rental and operational upside potential, at an attractive discount to replacement cost.

Cushman & Wakefield’s Multifamily Advisory Group, in collaboration with Ten-X, is pleased to present the opportunity to acquire the Cross Street Apartments, an 18-unit, garden style, project-based section-8 apartment community located at 28 Cross Street in Central Falls, Rhode Island.

Located less than 10 minutes from the heart of downtown Providence, the property benefits greatly from its strategic location, along the Rhode Island/Massachusetts border, which provides residents immediate access to employment drivers and transportation options located in both States. The property is ideally situated 0.25 miles from Interstate 95 and 0.5 miles from Route 1, making it easily accessible to residents needing to commute to Providence and the surrounding areas, as well as nearby employers in Massachusetts.

Cross Street Apartments is available on an “as-is, where-is” basis and is being offered without a formal asking price. Property due diligence materials are available to qualified buyers upon execution of a confidentiality agreement. Tour dates will be made known to registered buyers prior to the auction deadline. Please visit www.ten-x.com/listing/28-cross-st-central-fallsri-02863/29421275/ to sign the confidentiality agreement, download the due diligence materials and register for the auction.

The Cushman & Wakefield Multifamily Advisory Group is pleased to offer for sale, Crystal Lakes Apartments, a 716-unit valueadd apartment community located in one of Richmond, Virginia’s best locals. Built in 1967, Crystal Lakes presents the opportunity to acquire significant scale in one of the Mid-Atlantic’s leading apartment markets. The Richmond Market has been an out performer with low vacancy and accelerated rent growth over the last twelve months with this trend projected to continue. Crystal Lakes is perfectly positioned to take advantage of these lofty fundamentals due to its convenient location in Chesterfield County, which offers some of the region’s top schools and quality of life. The Property’s location, along with its unique townhouse style construction, creates consistent renter demand and a significant competitive advantage in the market. Further major employers and employment centers are located in close proximity to Crystal Lakes with downtown Richmond 10 minutes away. The current owner has invested significant capital to cure deferred maintenance and bring down units back online while also establishing a renovation program which is proving out rent increases of $165. The opportunity exists for a new investor to replicate or enhance this renovation for similar premiums. This unique opportunity to acquire a large scare asset with proven value-add upside is rare in the Richmond market and makes Crystal Lakes a truly one of a kind offering.

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 504-unit The Crossings at Carmichael apartment community located in Montgomery, AL. This asset is situated in the growing Midtown submarket, offering unmatched access to both Downtown and the booming East Montgomery. Built in 1974, The Crossings at Carmichael is perhaps the most well-located 70’s vintage asset in Montgomery. There is efficiency available given its high unit count and upside to further push rents and occupancy in 2017.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Dalewood Townhomes, a 50-unit, 1986-built townhome community located in Austin, Texas. Dalewood offers prospective buyers an exceptional opportunity to acquire a property with an attractive assumable loan that has a rate of 3.13% and 5 years of term remaining. The asset is situated in a single-family neighborhood, offering residents a tranquil lifestyle proximate to retail and schools. Dalewood also gives families a cost-effective alternative to owning a home, as home prices and mortgage rates have increased drastically. Furthermore, Dalewood is surrounded by thousands of jobs including Apple’s Parmer Campus and Lakeline less than 2 miles away. The property also presents prospective buyers with a unique value-add opportunity, with both classic and upgraded units presenting the ability for further enhancements and significant rent premiums.

The Offering

Cushman & Wakefield’s Multifamily Advisory Group, in collaboration with Ten-X, is pleased to offer for sale via auction, Dean Estates, a 48-unit, 100% market rate, value-add apartment investment opportunity located in Cranston, Rhode Island. Built in 1976, the property is comprised of two (2) three-story garden style residential buildings, spread across 1.71 acres. The property boasts an attractive mix of twenty-four (24) one-bedrooms and twenty-four (24) two-bedroom units. Unit sizes far exceed market standard, with one-bedroom units averaging 830 square feet and two-bedrooms averaging 1,150 square feet.

Dean Estates is located in one of suburban Rhode Island’s premier residential submarkets, offering tenants access to the local Municipalities’ strong public schools, as well as countless retail, entertainment, and dining attractions, all located in immediate proximity to the Property. Major brands such as Whole Foods, LA Fitness, Rolex, and Lululemon all have brick and mortar locations within 1.5 miles of the property.

Dean Estates represents an opportunity to acquire a value-add apartment community in a highly regarded submarket at a significant discount to replacement cost and free and clear of any in-place financing.

Pricing and Auction Process

Dean Estates is available on an “as-is, where-is” basis and is being offered without a formal asking price. Property due diligence materials are available to qualified buyers upon execution of a confidentiality agreement. Tour dates will be made known to registered buyers prior to the auction deadline. Please visit www.Ten-X.com to sign the confidentiality agreement, download the due diligence materials, and register for the auction. The live online auction will commence on Monday, October 21st and will conclude on Wednesday, October 23rd.