Spanish Palms draws first-time homebuyers

For first-time buyers, the process of buying a home is often intimidating. But Spanish Palms, a gated condominium community at 5220 S. Rainbow Blvd. near Hacienda Boulevard, is especially appealing for those looking to buy their first home, thanks to value pricing, spacious floor plans with perks like individual garages and expanded financing options.

Located across from Spanish Trail, the community just reached the one-year mark since it began selling residences in April 2015. Less than 20 percent of its 372 homes remain available for purchase. Homebuyers have access to Federal Housing Administration and Veterans Affairs financing.

“With homes starting at $131,900, Spanish Palms offers unparalleled value, particularly for first-time homebuyers who want to invest in more than just their first house, but a lifestyle that fits their needs and their budget,” said Uri Vaknin, a partner at KRE Capital LLC, whose company, in partnership with Dune Real Estate Partners, purchased Spanish Palms in 2013 as DK Las Vegas.

Spanish Palms since then has undergone a significant refresh of its amenities, common areas and individual floor plans. New amenities include a Central Park, featuring lush and well-manicured landscaping, walking trails and a pet area.

“Just a few months ago, we received HUD (Department of Housing and Urban Development) approval to offer FHA financing, which offers market rate interest with as little as 3.5 percent down, making home ownership a reality for many who otherwise could not qualify for traditional financing,” Vaknin said.

“Not only are we making owning a home more affordable, but the programs come backed with sales and financing professionals who have only our residents’ best interests at hand. Our team is ready to help answer any questions and to be there for our buyers through every step of the process.”

Other highly desirable perks at Spanish Palms include round-the-clock security at the gate. Residents can also escape the summer heat in the community’s two resort-style swimming pools, one which features a beautiful cascading waterfall.

“After a few laps, many of our residents take advantage of the poolside grills, because nothing says summer like a barbecue with family and friends,” Vaknin said. “For those who enjoy staying active, Spanish Palms offers a state-of-the-art fitness center. This is a real community with a wonderful lifestyle.”

Spanish Palms’ central location provides access to the Strip, known for world-class entertainment, shopping and dining, as well as downtown Las Vegas, hospitals, neighborhood grocery stores and McCarran International Airport.

“There are many indications that our local economy is bouncing back, and Spanish Palms definitely continues to be among the most exceptional great buys in Las Vegas,” Vaknin said.

Spanish Palms offers three floor plans ranging between 744 square feet and more than 1,131 square feet. Signature amenities include Central Park, an expanded fitness center, business center and conference room inside the clubhouse.

For more information on Spanish Palms, go to SpanishPalmsLV.com. Sales center is at 5250 S. Rainbow Blvd., No. 1055, and is open daily by appointment. Hours are Monday through Friday from 10 a.m. to 6 p.m.; Saturday 10 a.m. till 5 p.m.; and Sunday from noon to 5 p.m. Call 702-719-6100 to schedule an appointment.