78°F
weather icon Clear

Vintage Vegas apartment complex sold

Las Vegas-based Camino Verde Group, a real estate investment, development and asset management company, has acquired Sherwood Palms, a multifamily property in the Convention Center District of Las Vegas. The apartment community is at 2635-2655 Sherwood St. and is the fourth they have acquired in this neighborhood.

“Sherwood Palms was a great opportunity to restore this vintage Las Vegas property and provide quality workforce housing for workers on the north end of the Las Vegas Strip,” said Kevin Romney, co-founder and managing director of Camino Verde Group. “With the opening of the Convention Center Expansion, Resorts World and Circa, the need for affordable and workforce housing grows. Sherwood Palms fills an important need for that.”

Originally built in 1963, the 24-unit property features two levels of two-bedroom and three-bedroom floor plans up to 1,000 square feet. It includes an enclosed outdoor courtyard, community laundry facility and updated apartment spaces with high-speed internet access and air-conditioning and heating units.

Camino Verde Group plans to renovate the units with new appliances, countertops and floor coverings along with other fixtures and finishings.

“Many of the properties Camino Verde Group acquires are in dire need of rehabilitation and nearly uninhabitable,” Romney said. “We repair holes in the walls, broken windows and security issues to make them both safe and aesthetically pleasing to tenants. We are committed to providing affordable housing that our hard-working industry workers will appreciate.”

The community is just a short drive away from some of the city’s top employers, including the Convention Center, Resorts World, The Westgate, the iconic Strat tower, Fremont Street Experience and the Fashion Show Mall.

Public transportation is a short walk from Sherwood Palms, including the Westgate Monorail Station that can take passengers to the heart of Las Vegas near the McCarran International Airport.

Residents can enjoy a variety of retail and restaurant options throughout the neighborhood, including the Historic Commercial Center District outdoor mall featuring a variety of restaurants, retail shops and entertainment opportunities.

For information on Camino Verde Group’s portfolio of multifamily properties, visit caminoverdegroup.com.

Camino Verde Group LLC is a Las Vegas-based privately held real estate investment, development and asset management company with its sole focus on multifamily and mixed-use real estate. They generate passive income, long-term equity and appreciation for investors and owners through the purchase/development and wise management of property assets and maximizing income exit strategies. For more information on Camino Verde Group, visit caminoverdegroup.com.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Acadia Ridge opens in Redpoint in Summerlin West

Summerlin West, the newest area to take shape within the master-planned community of Summerlin, has announced its newest neighborhood. Opening within the district of Redpoint is Acadia Ridge by Toll Brothers.

Six tips for first-time homebuyers

Over the last two years, Nevada’s real estate market has been buzzing, especially during the COVID-19 pandemic where we saw a national rise in homebuying. According to realtor.com , in Las Vegas, specifically, home values have increased more than 13 percent this past year with the average cost of a home at $340,000.

Portfolio of 22 Las Vegas homes offered for $7.8M

Candi Liumai of Berkshire Hathaway HomeServices Nevada Properties has listed a portfolio of 22 homes throughout Las Vegas for a combined $7.8 million.

Trilogy Sunstone breaks ground on club

Trilogy Sunstone, a new age-qualified community within the Sunstone master-planned community offered by Shea Homes in northwest Las Vegas, has announced the groundbreaking of its new resort club, Cabochon Club.

REAL ESTATE BRIEFS: JUNE 19

A recent report by StorageCafé, nationwide self-storage search website and a part of Yardi, listed Henderson as one of the top U.S. cities with the best apartment amenities and ideal renting conditions. The city came in at the No. 4 sport nationwide and beat out other Nevada towns in this ranking.

Pulte opens Carmel Cliff in Redpoint in Summerlin

The rapidly growing and popular area of Summerlin West, the newest area to take shape within Summerlin, has yet another new neighborhood. Opening within the district of Redpoint is Carmel Cliff by Pulte Homes.

Howard Hughes breaks ground on office building, apartments

The Howard Hughes Corp., developer of the Summerlin and its 400-acre Downtown Summerlin, has broken ground on two new projects that reflect the growing demand for Summerlin’s acclaimed live-work-play lifestyle. 1700 Pavilion, a new 10-story, Class-A office building, and Tanager Echo, the 295-unit, second phase of the Tanager luxury apartment complex, continue the evolution of Downtown Summerlin as the community’s walkable urban core.

REAL ESTATE BRIEFS: Susan Marques joins team

Susan Marques joins Huntington Ellis Susan Marques has joined the Darin Marques Group at Huntington Ellis as a real estate agent. Marques is a former professional boxer and gym owner. She specializes in luxury real estate video marketing.

LVR presents annual awards

Las Vegas Realtors presented its annual awards this month to some of its leading and longtime members.