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Las Vegas Apartment Property Trades in $35 Mil Deal

3/20/20

Altura on Duneville, a 228-unit apartment project located in Las Vegas, has sold for $35.5 mil, or $155.7k/unit. It is located at 5050 Duneville St, within a few miles of the Las Vegas Strip in the Spring Valley submarket.

Altura on Duneville Apartments consists of entirely one- and two- bedroom apartments. Community amenities include two swimming pools, a newly renovated leasing office and on-site daycare.

The property was sold by San Diego-based Tower 16 Capital Partners, who acquired the asset in 2018 for $24 mil ($105.3k/unit). During their two-year hold, the company performed significant exterior and interior unit renovations, adding several amenities including a new leasing office, gym, business center and game room.




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