The subject property is located at the intersection of N. Rancho Dr. and N. Decatur Blvd
- 33.47 Acres R-3 Residential
- Current Entitlements for 700+ Units
- May Purchase Pads Individually or in Bulk
- Water System in Place and Fee’s Paid to SNWA & LVVWD
- Level Topography and Recent Soils Report Available
- All Offsite Infrastructure Complete Including Curb/Gutter/Sidewalk
- Excellent Large Scale Infill Opportunity in Growing Affordable Submarket
- Property Overview: The subject site encompasses +/-33.47 acres across (3) separate parcels in the city of Las Vegas. The site is currently zoned R-3 for medium density
residential, allowing for anywhere from (13-25) dwelling units per acre. As one of the few remaining large scale infill opportunities in the area the
subject site offers the potential for a wide array of product types and uses spread across the separate parcels.
The site is in excellent condition and has been positioned by the selling party to offer a variety of densities, uses, and the ability to go vertical
relatively quickly post close of escrow. The sellers were successful in applying for a zone change to R-3 (Medium Density Residential) in late 2018.
At the same time, they successfully filed a site development review with the city for a (738) unit multi-family project, demonstrating the level of density achievable on the subject site. In addition to their efforts with the city, the sellers have also pre-paid the water fees to the Las Vegas Valley Water District and Southern Nevada Water Authority for a single meter private distribution system that is already in place servicing the subject site. Utilities are already to the site and the off-site curb, gutter, and sidewalk are all complete.
The Rancho site is within close proximity to a number of amenities including the Fiesta Rancho Hotel and Casino, The Texas Station Hotel and Casino, and a Wal-Mart Super Center all within walking distance of the subject site.
The Northwest Medical District is less than (4) miles from the site offering easy access to doctors and Mountain View Hospital. Nearby Schools include Lucile Bruner Elementary, Theron L Swainston, and Cheyenne High School.
New home sales are strong in the area. Within a (3) miles radius of the site there are (7) active projects, with an average sales pace of (6.88) units per month. The active projects consist of attached product and small lot SFR