Next Wave Investors has purchased two multifamily communities in Nevada and Utah totaling 188 units for an undisclosed price. Additional details of the acquisitions were not released.
Next Wave acquired Harlow Apartments, a 98-unit property located at 10602 W. Alexander Road in Las Vegas, with units averaging 1,061 square feet. The resort-style, Class A property was built to condominium specifications and was more than 95 percent occupied at time of sale. Unit amenities include walk-in closets, USB ports, vinyl-plank flooring, nine-foot ceilings and smart-technology package that includes Alexa devices, Nest thermostats, lighting and locks, as well as the smart apartment Dwelo app.
The company also purchased Aspen Village Apartments, a 90-unit property located at 3043 W. 3500 S in West Valley City, near the 215 Beltway and Bangerter Highway. As of January, the property was 96.7 percent leased with units averaging 950 square feet.
Situated near Fairbourne Station, a new mixed-use development, Aspen Village is in its original condition, which allows Next Wave to add value to the property with unit and amenity upgrades.
Article source: REBusiness Online