|Number of units||420|
JLL is pleased to present the opportunity to acquire Montego Bay Apartment Homes (the “Property”), a 420-unit luxury garden apartment community located in desirable Henderson, Nevada. Constructed in two phases in 1989 and 1992, Montego Bay offers residents expansive one, two, and three bedroom floor plans averaging 1,022 square feet in size. The Property is richly amenitized, featuring a recently completed resort-style swimming pool and spa area, two additional pool areas, a contemporary clubhouse, a fully-equipped fitness center, and dog park. Montego Bay has achieved sizable rent premiums through unit interior and common area renovations, with a significant share of the remaining units in classic, untouched condition, offering investors the opportunity to capture additional value by continuing or improving upon the renovation strategy implemented by the current owner.
Montego Bay enjoys a prime Henderson location within the Whitney Ranch master-planned community. Residents benefit from the community’s outstanding schools and the diverse retail outlets just a few minutes away. The Property has immediate access to the full diamond interchange of I-515/US-95/US-93 at Russell Road, providing residents with quick, convenient access to the world famous Las Vegas Strip and the greater Las Vegas Valley. The Property’s infill location offers favorable supply/demand fundamentals with the submarket projected to outperform the neighboring areas.
- Value Add Opportunity
- Dynamic, Growing Amenity Base
- Strong Demographic Fundamentals
- Expanding Development