Sonata Apartments DST

4201 East Craig Road | North Las Vegas | NV | 89030

Down Payment:$15,750,000

Escrow Price:$35,000,000

  • Loan Proceeds: $19,250,000
  • Loan-to-Value: 55%

Having been exclusively in the apartment investment business since 1976, RK Properties finds itself without many peers.

-142 Properties Purchased Since 1976.

-119 Properties Have Gone Full Cycle

-Average Hold Period 6.3 Years

-RK’s historical track record is set forth in the RK Opportunity Fund III, LLC Private Placement Memorandum

Sonata Apartments

Sonata Apartments is a class A 312-unit, gated luxury apartment community. Built in 2008, the property spans over 13.69 acres and is comprised of 14 three-story buildings consisting of spacious one and two-bedroom apartment homes. The property is built to condominium quality and has spacious floor plans averaging 904 square feet with 168 one-bedroom units and 144 two bedroom units.

INVESTMENT HIGHLIGHTS

PROPERTY FACTS

  • 312 unit class A resort style condo quality property built in 2008.
  • To be purchased for $112,179 per door which is considered below replacement cost.
  • The property is centered in one of the fastest growing regions of Las Vegas and the “North” is where it is happening.
  • Currently planned over 3,000,000 square feet of spec space slated for construction.
  • $600 million VA Hospital in North Las Vegas is located just five miles northwest of Sonata.
  • Further, the submarket has been identified as being a favorite for expanding businesses due to its affordable office space and land.
  • Faraday Future, an electric car company and rival to Tesla, is looking to acquire 800 acres located just 10 minutes north of Sonata. This could mean over 4,000 new jobs to the immediate area with average wages of $50,896. A study commissioned by North Las Vegas, estimates that the overall impact including ancillary jobs, could boost the state and local tax revenues by $81 million annually between now and 2020.
  • Traditional value-add opportunity.

INVESTMENTS  BENEFITS

  • Potential Distributions From Net Cash Flow, Paid Monthly.
  • Potential Capital Appreciation From Value-add Opportunity.
  • Pass Through Of Tax Benefits for Tax-Deferred Distributions.
  • Anticipated Hold Period 6-8 Years.

BUSINESS PLAN
Immediately upon closing, RK Properties will implement a property improvement program and an aggressive marketing campaign. Value-add improvements will include exterior and interior improvements to enhance the quality of the property . The property logo and name of the property will change once the property closes.

 Once the physical improvements are completed and the aggressive marketing program is in place, management will continue to increase rents and improve operational performance

PROPERTY OVERVIEW

 Sonata Apartments is a class A 312-unit, gated luxury apartment community. Built in 2008, the property spans over 13.69 acres and is comprised of 14 three-story buildings consisting of spacious one and two-bedroom apartment homes.The property is built to condominium quality and has spacious floor plans averaging 904 square feet with 168 one-bedroom units and 144 two bedroom units. There are four floor plans to accommodate a variety of tenant demands.

The property features attractive luxurious interiors and common area amenities. Unit amenities include spacious walk-in closets, 9 foot ceilings,full-size washer & dryer, wood plankstyle flooring, ceramic tile bathroom flooring,air conditioning, lighted ceiling fans in master bedrooms, open kitchens with faux granite countertops,custom hardwood cabinetry, complete Whirlpool appliance packages,Stainmaster carpet, 36’ faux Travertine bathroom countertops, oval soaking tubs and completely wired for technology.

The common area amenities include resort-Inspired pool with sunning ledge, Wi-Fi in all common areas, fitness center with circuit training, outdoor living lounge, picnic areas, gas & charcoal barbecue grills, two tot lots, multipurpose grass field for outdoor activities, a multimedia iCafe and breathtaking mountain views.

ABOUT RK PROPERTIES

Having been exclusively in the apartment investment business since 1976, RK Properties finds itself without many peers. The key to our success is that we have created a specialized market niche and filled it well for decades.When I first started buying apartment buildings,in the mid-70’s, friends and business associates who saw the rewards often said, “Next time,please count me in.” Today, I am still working with the same philosophy and many of the same supporters. I look for something special where I know we can add value and own a property worthy of both pride and profit. By now, our investor base has grown to more than 3,500 clients and in the multi-family arena of real estate, you can be assured that RK Properties will continue to lead the way in providing viable investment opportunities for a long time to come.