What is the multifamily cap rate around the Strip (walking distance from Treasure Island) for A/B-class properties?
@Josh Sharp can you give an address for one you're looking at? I want to make sure we have the same interpretation of what A/B class is. In my 4 years of living here, I haven't seen an A/B class apartment near the strip. The only A/B areas that exist here are far West (Summerlin) and Southeast (Henderson) with some spots in various locations throughout the valley.
If you do find an apartment complex near the Strip, it will probably be 3-5 cap.
@Spencer Cornelia I can't give the address as this is an off-market deal but you've answered my question. Thanks.