HOUSTON, Nov. 12, 2020 /PRNewswire/ -- Nitya Capital has announced its new investment opportunity for the key Las Vegas property. It will be the 75th acquisition for the company.
Yardz at Mirabelli is a 168-unit property situated in the West Valley submarket, just off of Freeway 95. This property consists of 6.8 acres of land and, as Nitya's third acquisition in the area as well as its 75th major investment, is a crucial signifier of Nitya's overall growth, both in reach and within the Las Vegas market. Nitya previously acquired two other properties, now under the Karya Property Management label; Carmel Apartments in Laredo, Texas, and The Muse Apartments in Dallas, Texas.
Nitya Capital is currently offering real estate investors the opportunity to invest in places like Yardz at Mirabelli through their online crowdfunding platform. Located on Nitya's main website, this new investment platform is designed to help accredited investors maximize their investment options without fees or third parties. Investing in places like Yardz through this platform allows investors to take advantage of the high-demand housing in the Las Vegas market, acting as a direct financial gateway to buying and managing real estate assets in coveted real estate locations.
Yardz at Mirabelli is in one of the largest submarkets in Las Vegas, with an average submarket occupancy of 94%. This area of town, just thirteen minutes away from Downtown Las Vegas, has quick access to many notable locations and amenities including grocery stores, restaurants, schools, and parks.
Before Covid-19, the area experienced significant job growth, giving way to greater demand for multifamily housing in the West Valley submarket with a 40% increase in average rent growth since 2016. Following the emergence and spread of Covid-19, short-term job losses in the area were reported but subsequent reports have indicated a sense of stability in employment in recent months with further gains likely in the second half of this year. As the interior of the property has only been 15% upgraded, Nitya is currently focused on interior unit rehabs in the future for the Yardz community.
With Nitya's acquisition of this new property, the company is bolstering its potential in the Las Vegas Market. As submarket rents near the property are steadily increasing, Nitya looks to continue expanding its profits in the region.
CONTACT: Mehul Chavada, 857-203-1792, [email protected]
SOURCE Nitya Capital
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