About
3 KEYS Communities
233-unit Multi Family Portfolio
3 KEYS Communities is excited to announce the upcoming acquisition of a 233-unit portfolio of an affordable housing apartment community comprised of 12 different properties throughout the Las Vegas Valley in Nevada by a limited group of Sophisticated Investors for a purchase price of $28,293,425.
Close of escrow for last property is expected to occur March 30, 2024.
Las Vegas has a population of 656,274. Median household income $61,356. 46% of Households are renters.
New mortgage with a fixed 7.15% interest rate with a 12 month interest-only period, 5 Year Term
Hiring 3rd party Property Management firm with over 17 years of experience.
Residents are directly funneled through Clark County via the Rapid Rehousing Initiative.
Lease periods of 1 to 2 years while residents build a financial foundation.
Mix of Studios, 1-Bed, 2-Bed, 3-Bed and 4-Bed apartments.
Occupancy at 92% as of September 2023.
Risks & Disclosures
GENERAL DISCLAIMER
This offering contains privileged and confidential information and unauthorized use of this information in any manner is strictly prohibited. If you are not the intended recipient, please notify the sender immediately. This Offering is for informational purposes and not intended to be a general solicitation or a securities offering of any kind. The information contained herein is from sources believed to be reliable, however no representation by Sponsor(s), either expressed or implied, is made as to the accuracy of any information on this property and all investors should conduct their own research to determine the accuracy of any statements made. An investment in this offering will be a speculative investment and subject to significant risks and therefore investors are encouraged to consult with their personal legal and tax advisors. Neither the Sponsor(s), nor their representatives, officers, employees, affiliates, sub-contractor or vendors provide tax, legal or investment advice. Nothing in this document is intended to be or should be construed as such advice.
The SEC has not passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials. However, prior to making any decision to contribute capital, all investors must review and execute the Private Placement Memorandum and related offering document. The securities are subject to legal restrictions on transfer and resale and investors should not assume they will be able to resell their securities.
Potential investors and other readers are also cautioned that these forward-looking statements are predictions only based on current information, assumptions and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by such forward looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project, “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. These forward-looking statements are only made as of the date of this executive summary and Sponsors undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
FINANCIAL DISCLAIMER
This Offering further contains several future financial projections and forecasts. These estimated projections are based on numerous assumptions and hypothetical scenarios and Sponsor(s) explicitly makes no representation or warranty of any kind with respect to any financial projection or forecast delivered in connection with the Offering or any of the assumptions underlying them.
This Offering plan further contains performance data that represents past performances. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data presented.
All return examples provided are based on assumptions and expectations in light of currently available information, industry trends and comparisons to competitor’s financials. Therefore, actual performance may, and most likely will, substantially differ from these projections and no guarantee is presented or implied as to the accuracy of specific forecasts, projections or predictive statements contained in this Offering. The Sponsor further makes no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown in the pro-forma or other financial projections.
All offers and sales of any securities will be made to both Sophisticated and Accredited Investors through a Confidential Private Placement Memorandum and any exhibits and attachments thereto (collectively, the “PPM”). This communication is not the PPM, and is not intended nor shall it be construed to be an offer to sell any securities. No PPM will be presented to you unless and until the Company has first been able to validate your status as either a Sophisticated or an Accredited Investor. Prior to subscribing, each investor must receive, read and fully understand the PPM which contains important disclosures, financial assumptions and risk factors, including, but not limited to those risks set forth in the section of the PPM entitled “Risk Factors.” Each investor must base its decision to invest solely on the PPM, may rely only on the information contained in the PPM and should seek advice based on the investor’s particular circumstances from their own independent advisors. Past performance of Company-sponsored investments may not be indicative of future results.
View our
Offering Documents
KPIs
Hold Time - 10 Years
Purchase Price - $28,293,425.00
Cost Segregation will be done
Distributions - Quarterly
Close date - 03/30/2024
Numer of units - 233