3D Investments Trades Las Vegas Community for $19M
- Nov 11, 2019
3D Investments has sold Skyline Parc, a 193-unit Class C multifamily asset in Las Vegas, for $18.5 million, according to public records. The seller had acquired the garden-style property in late 2017 for $11 million from Alpha Wave Investors, per Yardi Matrix.
The deal marks 3D’s fourth sale in the Las Vegas metro this year. In June, the investor sold a 180-unit property in the Las Vegas Central submarket for $18.4 million.
Skyline Parc, located at 3675 Cambridge St. within 2 miles of the Strip and Interstate 15, is a short walk from the busy Maryland Parkway retail corridor. Three public bus routes connect the asset to the wider metro area, with one providing a direct route to downtown Las Vegas, 3.5 miles north.
Built in 1972, Skyline Parc’s 19 buildings have a mix of one- and two-bedroom units, with 624- and 891-square-foot floorplans. Amenities include two swimming pools, a laundry facility and covered parking. The property benefits from the nearby 9-acre Molasky Family Park, which has playground facilities and a dog park. In September, Yardi Matrix shows the asset was 95.9 percent occupied, 110 basis points above the metro’s average for Class C communities.