A new name, new ‘Vibe’

Vibe at 1161 Lulu Ave. was built in 1963. It's seen better years. For more than a decade, 93 of its 343 units were uninhabitable or needed major work. Big brown buildings with peeling paint sat boarded up. Some had been nearly destroyed by flooding and fire.

A new owner purchased the complex in February. Since then, crews of workmen have been busy rehabing the property, which is a few blocks from the University of Nevada, Las Vegas, off Maryland Parkway and Tropicana Avenue. They have refurbished more than 30 units, replacing dated appliances, cabinets and flooring. Still, some apartments have the original cabinets and '60s baby blue and pink tubs and sinks in the baths. Six apartments were completely rebuilt. The extensive work required Clark County permits and inspections.

The new owner hired WestCorp Management Group, a Las Vegas-based property management company, to operate the apartment community.

It was rebranded and renamed Vibe. Splashes of yellow banners and signage are visible from Maryland Parkway. And while walking through the complex, you can see small signs of its glory days in the details of the midcentury wrought iron stair rails.

Emily McCann, the company's vice president of marketing and education, pointed them out during a tour of a refurbished unit.

"They wanted to paint over them," she said as she started up the stairs. "I said we need to accentuate that. Leave it alone."

McCann said although the neighborhood is older and many of the streets that run through it are public, the apartment has hired a 24-hour courtesy patrol and reports of crime are low.

"When you have a family, the major concern is safety," she said.

You can check crime stats at crimemapping.com The site showed 27 crimes for that ZIP code from July 25-31. Most of them were for disturbing the peace.

Edee Walton has managed the apartments for more than three years. She and her assistants constantly patrol the complex.

"This is my community and I know what's going on here," she said.

She said it was 40 percent leased when she started. Today, that number is nearly 80 percent, counting the rehab units that have been leased while they are still under construction.

The amenities are few, but one building is being demolished and a clubhouse is planned to take its place by early next year.

Still, there is no designated parking; there are paved spots at the entrance and graveled lots in the back of the units and interior of the complex. Also, the units do not have washers and dryers, but there is a laundry facility in the center of the complex.

The big draw is the low rent. It's $605 a month for a one-bedroom, one-bath, 700-square-foot apartment. A three-bedroom, two-bath, 1,100-square-foot unit goes for $850 a month.

WestCorp data reports the average Las Vegas apartment rented for $840 a month, and that's the highest it has been since the third quarter of 2009. Most industry watchers say rents will rise across the valley this year.

The central location and walkability is another advantage. Just blocks away from the university and the Strip, residents don't have far to walk to get to work, the grocery store or school.

Walton said many of her tenants are casino, airport and university workers. The location is near a bus route and is centrally located to those work centers. She said she has four students who have leases, but hopes that number will grow as the complex improves. Walton said she expects that all the work on the buildings will be completed by the end of the year.