Property Highlights

Tides at East Summerlin offers a diversified unit mix of one and two-bedroom floorplans, with 66% of units in their original condition. The highest renovated units achieve an average effective rent premium of $124 over classic units. An estimated renovation cost is approximately $10,500 per unit, yielding a 14% return on investment and generating an additional $167,567 in annual rental income.

With an average in-place rent of $1,267, renters at Tides at East Summerlin are currently paying $457 less per month than the surrounding Class A property, offering substantial headroom for a new investor to capitalize on future rent growth opportunities.

During the 12-month period ending in Q2 25, the Las Vegas apartment market experienced a mere 2.1% increase in inventory, below the national growth rate of 2.7% and significantly below other high net migration metros, such as Nashville (4.9%), Phoenix (6.1%), Charlotte (7.3%), and Austin (7.8%). Furthermore, Tides at East Summerlin is located in the West Las Vegas submarket, the second highest-growth submarket in Las Vegas, with a projected 5-year rent growth of 14.0%. 

Over the past 10 years, Las Vegas has experienced consistent appreciation in home prices, with values reaching an average of $454,368 as of August 2025. The limited availability of resale opportunities, driven by existing low mortgage rates and a restricted single-family pipeline, is expected to sustain a steady pace of growth for home values. Rising home prices should continue to fuel demand for apartments as renters find themselves priced out of the for-sale market.

The influx of companies and people moving to the area has caused a significant gain in home prices over the past three years. Homes within the surrounding community require an average monthly mortgage payment of $2,835, 124% higher compared to Tides at East Summerlin’s average effective rent of $1,267. The elevated home prices in the area will drive perpetual demand for Tides at East Summerlin’s unique community.