The Palms Apartments, located at 713 E. Sahara Ave. in Las Vegas, recently sold for $33 million. Built in 1962, the two-story, 200-unit garden-style apartment complex has units that range between 700 to 1,500 square feet, one to three bedrooms and one to two bathrooms.
Thomas Dean, a commercial real estate professional with Coldwell Banker Commercial Premier, represented the buyer in the transaction.
“This older, vintage property provided my client with a great value-add opportunity in a very hot market. They have an extensive Capex plan and are excited to add this to their Las Vegas portfolio,” said Dean.