investment highlights
- UPSIDE IN MANAGEMENT // The property has been locally managed and supervised by an out-of-state regional manager. The property does not have a sophisticated marketing program or strategy to attract or retain tenants. The onsite manager has been with the site since previous ownership but has not had effective support to fill the vacancies.
- GROWTH LOCATION // The greater Mesquite, NV region has historically been a base for snowbirds with the number of residents peaking during the late fall and winter months. In recent years, Mesquite, NV has been an affordable housing destination for commuters working in Las Vegas, NV, and St. George, UT. The five-year population growth for the property is projected to be 14.63 percent, the area has grown 43.5 percent since 2010.
- LEASE-UP OPPORTUNITY // With the snowbird population and increased demand for RV spaces during the winter months, occupancy typically increases from September to March and falls during the summer months. In the region, properties with enclosed RV spaces or canopy parking maintain more stable occupancy year-round.
