cypress-springs

3651 N. Rancho Drive Las Vegas NV 89130

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3651 N. Rancho Drive Las Vegas NV 89130

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

CONTACT Info

Charles Steele 

Senior Managing Director 602.319.5007 charles.steele@berkadia.com NV License #BS.0144397

JARED GLOVER

Managing Director 702.498.4232jared.glover@berkadia.com NV License #B.0144864

John Cunningham 

Senior Managing Director 602.625.7476 john.cunningham@berkadia.com NV License #S.0174792

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Berkadia is pleased to exclusively present the opportunity to acquire Cypress Springs, a 144-unit garden-style community located in a high-performing Las Vegas market. This meticulously maintained community, with significant capital investments and an attractive assumable loan at 2.77% with over five years of interest-only payments remaining, offers the potential for outsized cash-on-cash returns without further renovations. The property benefits from strong leasing momentum, with additional upside available through value-add opportunities in all units. Ideally situated in an infill location with access to over 950,000 jobs within a 30-minute commute, Cypress Springs is set to excel as Las Vegas leads major markets in job growth through 2024 and boasts one of the leanest incoming supply pipelines among major MSAs. Population and employment are projected to grow by 8.1% and 8.3%, respectively, through 2029.

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8548 Rozita Lee Avenue Suite 310 Las Vegas, NV 89113 Phone: 702.866.6333 Fax: 702.866.6066

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QUICK STATS

$1,366

Average Market Rent

144

UNITS

1994

Built

93%

Occupied

Cash-Flowing, Strong Performing Asset with Attractive Assumable Debt Significant capital investment for deferred maintenance, unit upgrades, and amenity improvements. Balanced unit mix: 22% 1-bedroom, 61% 2-bedroom, and 17% 3-bedroom units. 2.77% assumable debt with a 5-year term, offering full interest-only payments. Positioned to deliver strong cash-on-cash returns, starting in the high single digits in Year 1, increasing to double digits by Year 3 without further renovation. Revenue Growth Potential for New Ownership 100% of units offer value-add opportunities with upgrades to appliances, countertops, and flooring. Recent leases show a 2.6% increase over average in-place rents. Only two properties are currently under construction in the submarket. Up to $315 rent gap compared to renovated competitors. $568 rent gap compared to new construction in the submarket. Projected 15% rent growth over the next five years. Demand Drivers for Value Appreciation Convenient access via I-11 & 215 freeways and major thoroughfares, connecting to over 950,000 jobs within a 30-minute drive. Located in the suburban, infill area of northwest Las Vegas, close to employment centers in Summerlin/Southwest Curve, Las Vegas Strip, Downtown Las Vegas, and Las Vegas Medical Quarter. Quick access to The Strip & Downtown Summerlin, ideal for entertainment, dining, and nightlife. Proximity to the newly broke ground Hylo Park mixed-use development: The project includes essential amenities like a grocery store, restaurants, sports field, ice rink, and outdoor entertainment venue. In 2024, Las Vegas led the nation in job growth, adding 37,800 new jobs (3.4% increase). Las Vegas is one of only nine major markets with above-average population growth and below-average deliveries, presenting a unique supply and demand story. Several $1+ billion investments announced, including Las Vegas’s first free-standing children’s hospital and the new Las Vegas A’s stadium. Population and employment projected to grow by 8.1% and 8.3%, respectively, through 2029.

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