Category Archive : Real Estate

LAS VEGAS, NV – Cleveland-based apartment developer NRP Group has announced that they are actively working on several projects in the Las Vegas Valley – including both affordable-housing and luxury complexes – in an effort, they say, to address ongoing housing shortages in Southern Nevada.

According to NRP Vice President of Development Mike Moriarty, while there are upscale projects on his company’s table, they are especially focusing on the current lack of nearly 78,000 affordable and available rental homes for extremely low-income tenants in Vegas.

“There’s an extreme lack of affordable units here,” Moriarty said, a life-long Las Vegas resident who will be personally overseeing the company’s developments here.

The first two NRP projects are scheduled to break ground later this month; one will take the form of an upscale 390-unit complex in the southwest valley between Durango Drive and Cimarron Road, and other will be a 105-unit affordable housing project in North Las Vegas on Pecos Road.

Emphasis is being placed on not just what NRP is developing, but where; the upscale southwest valley project is on a 7.8-acre plot of land next to UnCommons, a huge mixed-use facility with apartments, offices, restaurants, and entertainment options, as well as being near the Durango hotel and casino, ensuring that residents will have plenty to do during their off-time.

Rental rates would be $2.50 to $2.60 per square foot, and there will be a number of high-end finishes and amenities for tenants, including indoor bicycle storage with a repair station, an indoor pet wash, and more.

As for the North Las Vegas project, the affordable housing complex – dubbed North & Valley – will be offering units to residents earning between 50 and 60 percent of the Area Median Income (AMI), and will take the form of two four-story buildings with a mix of one, two, and three-bedroom residences.

The first units of these projects are slated to be available to rent by the first quarter of 2026.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – A new report by Las Vegas Realtors (LVR) reveals that home prices in Las Vegas showed a slight drop in August when compared to the all-time record high level they hit once again the month before, potentially signaling the return of stability to the Southern Nevada real estate market, despite the fact that the region’s inventory continues to climb.

LVR noted that the median price of an existing single-family home in the Las Vegas Valley in August was $480,000, which represents a drop of $5,000 from the all-time record high of $485,000 achieved several times in 2025, most recently in July; August’s median price is also a 0.7 percent increase year-over-year.

Meanwhile, the median price of condominiums and townhomes sold in the valley in August was $298,000, which represents a 2.1 percent year-over-year increase, but a significant drop from the region’s all-time record originally set in October 2024, which was $315,000.

Las Vegas Realtors President, George Kypreos, said in a statement that the numbers recorded in August distinctly show that the residential real estate market in Southern Nevada is returning to a more even level between buyers and sellers.

These statistics are another sign of stability in our local housing market,” Kypreos said. “Home prices here in Southern Nevada haven’t moved much this year. Besides having more homes on the market to choose from, buyers should also be pleased to see mortgage interest rates going down this month.”

However, inventory in Vegas continues to climb amid sluggish sales, with 7,206 single-family homes listed at the end of August without any offers, LVR says, a 36.8 percent jump year-over-year. In addition, there were 2,560 condos and townhomes without offers, a 56.1 percent jump from August 2024.

2,320 existing homes, condos and townhomes were sold in August, a year-over-year drop of 14.2 percent for homes and 15.4 percent for condos and townhomes.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Renting in Las Vegas in 2025 offers both opportunities and challenges for tenants, young professionals, and newcomers to the city. Known for its vibrant lifestyle, favorable tax environment, and growing job market, Las Vegas continues to attract residents from across the country. However, as with any growing metropolitan area, the rental market is shaped by evolving trends in pricing, availability, and regulations. Understanding these dynamics is essential for anyone considering a move to the Vegas Valley or renewing their lease this year.

This guide will help you navigate the rental landscape in Las Vegas by exploring current market trends, average rent prices, renter rights, short-term rental laws, and affordability factors. Whether you are searching for your first apartment, relocating for work, or simply interested in the state of the market, the insights here will give you a clear picture of what to expect. For even more localized information and tenant resources, you can visit our Las Vegas Renter Information page.

The Rental Market Landscape in 2025

Las Vegas has long been considered one of the more affordable major cities in the western United States, but recent years have seen steady increases in rental rates due to population growth (Much from neighboring California), housing demand, and economic expansion. While developers have introduced new apartment complexes and mixed-use communities, the influx of residents has kept occupancy high.

Many neighborhoods are experiencing revitalization, and areas such as Downtown Las Vegas, Summerlin, and Henderson have seen significant upgrades to infrastructure and amenities. This growth has been beneficial for renters seeking modern housing options, but it has also pushed average rent prices upward. The key to securing a good deal in 2025 is to act quickly when a desirable property becomes available and to understand which neighborhoods match your budget and lifestyle needs.

Average Rent Prices in Las Vegas for 2025

The average rent in Las Vegas in 2025 varies based on location, property type, and amenities. Downtown and the Arts District tend to command higher rents due to proximity to entertainment, nightlife, and cultural attractions. Summerlin and Henderson offer more suburban lifestyles with larger properties and higher price points, while North Las Vegas remains one of the more affordable options for larger units.

For studio and one-bedroom apartments, rents remain competitive compared to other major cities in the region, but they have risen compared to pre-2020 averages. Two-and three-bedroom rentals are in particularly high demand among families and roommate households, which means that properties in good condition with modern features often get leased within days of listing. Renters looking for the best value in 2025 may want to consider emerging areas such as the southwest valley, where development is ongoing but prices have not yet reached their peak.

The affordability of a rental property should be evaluated in the context of utilities, parking fees, and any additional community charges. This holistic approach ensures that you understand the full monthly cost of living in your chosen property.

Renter Rights and Protections

Renting in Las Vegas comes with specific rights and protections under Nevada state law. Tenants are entitled to safe and habitable living conditions, proper notice before rent increases or lease terminations, and the return of their security deposit within the required timeframe after moving out, provided the unit is left in good condition. Landlords must follow legal procedures when entering a rental unit, addressing repairs, or initiating eviction proceedings.

In 2025, awareness of these rights is more important than ever, especially given the competitive nature of the market. Tenants should review their lease agreements thoroughly before signing and be prepared to ask questions about maintenance responsibilities, late fee policies, and renewal terms.

Short-Term Rental Laws in Las Vegas

Short-term rentals, such as those listed on Airbnb or Vrbo, remain a popular option for property owners and travelers alike, but they are subject to specific regulations in Las Vegas. Clark County, the City of Las Vegas, and the City of Henderson each have their own distinct rules governing permits, occupancy limits, and zoning restrictions. In many cases, operating a short-term rental without the proper licensing can result in significant fines; one case in the City of Las Vegas reached $180k.

For renters, it is important to understand whether a property is legally permitted for short-term stays, especially if you are subletting or considering a flexible lease that allows temporary hosting. Regulations have been updated in recent years to balance the needs of residents, property owners, and the tourism industry, so staying informed about these laws is essential. Shelter Realty provides guidance for those navigating both long-term and short-term rental agreements in compliance with local laws.

Affordability Considerations for Renters

Affordability in Las Vegas is relative. While rents are lower than in cities like Los Angeles or San Francisco, they have increased enough in recent years to challenge some budgets. Renters in 2025 should carefully consider total housing costs, which include rent, utilities, transportation expenses, and lifestyle costs such as dining, entertainment, and recreation.

Choosing the right neighborhood can have a significant impact on affordability. Areas farther from the Strip and the city center tend to offer larger properties for lower rent, but may come with longer commutes. Newer apartment complexes may include desirable amenities like gyms, pools, and security features, but these often come with higher rents and additional fees. For those new to the city or moving within the Valley, scheduling a consultation with a local rental expert through the Shelter Realty Contact Page can help identify the most cost-effective housing options that align with your needs.

Lifestyle Factors to Consider When Renting

Renting in Las Vegas offers a wide range of lifestyle choices, from high-rise living with sweeping views of the Strip to quiet suburban communities with parks and walking trails. Young professionals may gravitate toward Downtown and Midtown, where nightlife and cultural events are abundant. Families often choose areas like Henderson or Summerlin for their excellent schools, safety, and community amenities. Retirees and remote workers may prefer quieter neighborhoods with easy access to golf courses, shopping centers, and healthcare facilities.

Your choice of neighborhood should reflect not just your budget, but also your preferred lifestyle, commute times, and proximity to the amenities you value most. With Las Vegas continuing to expand outward, there are more choices than ever before for renters in 2025.

FAQs

1. What is the average rent in Las Vegas in 2025?
The average rent depends on the neighborhood and property type, but it remains competitive compared to other major western U.S. cities while trending upward from previous years. See Local Rental Market Report: How Much Can Homeowners Expect for Rent? (September)

2. Are there rent control laws in Las Vegas?
Nevada does not have statewide rent control, but landlords must provide proper notice before increasing rent or changing lease terms.

3. How competitive is the rental market in 2025?
The market is competitive, with high demand across all property types, especially in well-located neighborhoods and modern apartment complexes.

4. What should I know about short-term rentals?
Short-term rentals are legal in certain areas but require permits and adherence to local regulations. Always confirm that a property is properly licensed before renting.

5. How can I find the most affordable rental in Las Vegas?
Working with a local expert such as Shelter Realty can help identify neighborhoods and properties that offer the best balance of affordability, amenities, and location.

6. What rights do tenants have in Las Vegas?
Tenants have the right to safe and habitable housing, timely repairs, and proper notice before rent increases or lease terminations.

7. Can I negotiate my rent in 2025?
While possible, rent negotiations are more challenging in a competitive market. Strong references and longer lease commitments can improve your chances.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Joe Mcdermott

Joe Mcdermott is a journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Mcdermott helps keep a keen-eye on what’s happening in the Las Vegas Nevada community on behalf of Shelter Realty Inc.

LAS VEGAS, NV – A new affordable housing community in North Las Vegas – the first of its kind in the city – has been announced by the NRP Group, a developer, builder, and manager of multifamily housing.

The groundbreaking of the community – dubbed North & Valley – is scheduled to take place later this September. The development is slated to take the form of 105-units at 6555 North Pecos Road on a five-acre plot of land located in Clark County, right next to a medical office campus and job center.

North & Valley will be offering units to residents earning between 50 and 60 percent of the Area Median Income (AMI), and will take the form of two four-story buildings with a mix of one, two, and three-bedroom residences. The project is notable as there are very few affordable housing communities in the area – and in particular North Las Vegas – that cater to the needs of low-income families and working professionals.

NRP Group Vice President of Development Mike Moriarty noted that North & Valley will address the very real need for affordable housing in North Las Vegas.

Las Vegas is one of the fastest-growing regions in the country, yet housing supply hasn’t kept up with demand, especially for working families,” Moriarty said. “This project marks NRP’s first affordable housing development in Las Vegas, and we’re proud to bring our 30 years of experience creating high-quality communities to the region. As Las Vegas continues to experience explosive population growth and a deepening housing crisis, we’re committed to being part of the long-term solution.”

Moriarty also noted that the community – despite its entry-level price point – will nonetheless offer resort-style amenities to its tenants, including a swimming pool, a rooftop terrace lounge on the fourth floor with scenic views, and an outdoor playground. In addition, inside each unit, tenants will have stainless steel appliances, quartz countertops, designer cabinetry, wood-style flooring, and connections for washer and dryer setups.

Completion of development for North & Valley is scheduled for April 2027.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Las Vegas’ infamous “Underground House” has been listed on the market this week, with the seller asking a cool $8.5 million for the extraordinarily unique and eccentric subterranean residence.

Essentially a “doomsday bunker” located 26 feet underground – with a 2,300 square-foot, two-bedroom house located above-ground that serves as a gateway to entering the underground house – the property was originally built in 1978 by Avon cosmetics executive and subterranean living enthusiast Jerry Henderson and architect Jay Swayze. The one-of-a-kind dwelling originally cost $10 million to build, and is situated within a 15,000 square-foot steel-reinforced concrete bunker.

Despite its intended purpose being to survive a potential nuclear holocaust, the underground house – which boasts 5,000 square-feet of living space and retains its authentic 1970’s design aesthetic to this day – features numerous amenities, including a pool, terraces, a waterfall, a generator, and a 1,000-gallon water tank.

“One of America’s most extraordinary residences: The Underground House,” reads the Redfin listing, which refers to the property as the world’s largest “Atomitat,” a Cold War-era luxury bunker designed for self-sufficient living.

3970 SPENCER STREET, LAS VEGAS – $8,500,000.00

Featuring a total 5 bedrooms, 6 baths over 2 homes (one above ground and one below ground), an indoor pool, putting green, theater, dance floor, bar, saunas, and a programmable faux sky, it recreates the feeling of being above ground while offering total privacy and security,” the listing continues. “Hand-painted landscape murals, sculpted trees, and retro 1970s design details create an immersive, time-capsule setting unlike any other. This is a rare investment opportunity – ideal as a private residence, event venue, museum, luxury rental, or cultural landmark. A true piece of Las Vegas history and a chance to own a property that is equal parts residence, attraction, and legend.”

Previously, the property sold in 1990 for $1.3 million after Henderson passed away, and again in 2005 for $2 million. The Stasis Foundation – which reportedly advocates for cryogenics, or the practice of freezing humans for scientific purposes – purchased it in 2014 for $1,150,000. However, the property’s current owner is not publicly known.

Click here to view full listing details for 3970 Spencer Street, Las Vegas

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Las Vegas currently has a record-breaking number of luxury homes listed on the market – defined as properties priced at $1 million or higher – while sellers are scrambling to cut deals by lowering prices amid the competition.

Luxury listings in Vegas have increased a whopping 42 percent year-over-year, which is over 50 percent higher than the national average increase of 20.3 percent, as per July 2025 housing data recently released by Realtor.com.

While the total number of new properties on the market in Vegas increased 5 percent in July over the same period of time one year prior, builders and sellers alike are slowing down their momentum as the overall national real estate market experiences a slowdown due to high prices and expensive borrowing costs.

However, while $1 million might get you a small two-bedroom condominium in major metros such as New York City of Los Angeles, that amount gets you a great deal more bang for your buck in Las Vegas; we’re talking large homes coming in at 5,000 square-feet of living space, packed with numerous perks and amenities.

As a result, Las Vegas luxury real estate has been a proven draw for the affluent in society, especially considering the fact that Nevada has no state income tax. But as the luxury market continues to slow down amid national economic uncertainty, there is more and more competition amongst sellers, and that is translating into price cuts.

Prices for luxury homes in the $1.2 million-plus range in Southern Nevada have decreased 12.17 percent year-over-year, contrasted by the 1.14 percent national average; homes costing $2 million-plus – the range experiencing the steepest cuts – are down 18.3 percent, compared to 6.15 nationally. And as for the homes in the $6-million-plus range, those cuts are coming in at 15.21 percent versus 6.78 percent nationally.

But lowering prices is only part of the equation – now sellers are also waiting longer to make a deal. Luxury listings in Vegas are languishing on the market for a median rate of 64 days, a 5-day year-over-year increase.

Clearly, in today’s tough economic and socio-political climate, buyers – even affluent ones – are waiting longer, shopping longer, and negotiating with more gusto, and sellers are being forced, for the time being, at least, to adjust to make a deal.

Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – According to a new report released by real estate brokerage services company Redfin, the Las Vegas Valley is currently the fastest-cooling housing market in the United States.

In June 2025, the amount of home sales in the valley decreased 10.2 percent when compared to the same month one year prior; in contrast, the amount of housing inventory on the market in Southern Nevada has increased 44.8 percent year-over-year, the largest jump out of any of the country’s largest major metropolitan areas.

The Redfin report said that the prices of homes in the region have remained approximatively the same compared to one year ago, but when homes do sell, they do so at an average price drop of four percent. In addition, the average amount of time that a house is currently sitting on the Las Vegas market before selling is 51 days, an increase of 15 days year-over-year and well above the national average of 40 days.

In a separate report, Redfin also noted that the valley has experienced a 12.2 percent decrease in its number of pending home sales, which places the region third in the country in terms of that metric.

Las Vegas Redfin Realtor Cherra Bergman said that there are several economic factors at play that are contributing to the current real estate situation in the Las Vegas Valley.

Buyers have more inventory to choose from than they’ve had in years, so they feel like they can take their time. Even when they find a home they really like, they often wait to find something better,” she said. “House hunters are cost-conscious because mortgage rates are high, so many are opting for new-construction homes since builders here are offering great incentives like mortgage-rate buydowns and money toward closing costs in order to offload inventory.”

After Las Vegas, the fastest-cooling residential real estate markets in the country are currently Sacramento, Denver, Fort Lauderdale, Orlando, San Diego and Miami.

Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Despite the fact that inventory levels continue to grow and sales are at lower levels when compared to the same period of time one year prior, home prices in Las Vegas remained at their all-time record high in July 2025, according to a new report released by Las Vegas Realtors (LVR).

As per LVR, in July the median sale price for an existing single-family house in Southern Nevada was $485,000, which represents a 1 percent jump year-over-year, as per data pulled from the Multiple Listing Service; this ties the record high established during the first three months of 2025 and once again in June.

Starting in January, home prices in Las Vegas reached and maintained their all-time record high of $485,000 for three months in a row; April finally saw that number dip to $480,000, and that dollar amount remained firmly in-place for May as well, before surging back to the record-high level of $485,000 in June, and now holding firm at that amount in July.

Meanwhile, July saw prices for condominiums and townhomes decrease to $290,000 from June – when that amount was $305,000 – which represents a decrease of two percent year-over-year. The last all-time record high price for condos and townhomes in Vegas was established in October 2024, when that amount reached $315,000.

Meanwhile, the number of homes available on the market in Vegas has gone up; the number of single-family homes for sale in July rose 54 percent year-over-year, along with the inventory of condominiums and townhomes, which jumped 77 percent. There were 7,147 single-family homes listed for sale without offers at the end of July, in addition to 2,622 condos and townhomes.

The biggest headline coming out of our housing market this year has been our increasing inventory,” said LVR President George Kypreos. “More homes to choose from is good news for buyers. It’s also a sign that the market has been cooling down lately.”

Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Artificial Intelligence (AI) is in the middle of a huge boom right now, with the controversial technology expanding its abilities by leaps and bounds on a seemingly daily basis, leading to very real concerns that it could take jobs away from hardworking human beings.

Real estate is one field that has its workers sweating about the perils that AI presents to their livelihoods; already, the tech is being used to automate some of the more mundane tasks realtors have to contend with.

AI is being used generate and automate listings, anticipate buyer and seller preferences, and – with the vast amounts of data that algorithms can analyze – offer personalized property suggestions for target demographics, based specific individual preferences. Plus, the tech enables AI-driven chatbots to offer 24/7 availability to engage with buyers at all hours of the day or night, providing help and engagement in order to help retain interest.

But as for the idea that real estate agents themselves could eventually be replaced, a new Microsoft study says that isn’t likely to ever happen. This is because while AI could potentially tackle aspects of customer service and sales, it could never handle the uniquely-human, “emotional” side of property transactions, as many buyers and sellers are looking for a “trusted advisor” to guide them through the process.

The study analyzed 200,000 conversations that users of Copilot – Microsoft’s generative AI-driven chatbot, included in the company’s Windows operating systems and Bing internet browser – to see where the tech’s abilities stood out, and where they came up short.

Careers that involved gathering and explaining information – such as journalism, translation, customer service, telemarketing, travel agents, and sales – appeared to show the highest risk of AI takeover.

However, careers that require a human to be physically present – such as nursing, painting, embalming, machine operation and repair – showed the least risk.

But while the real estate industry wasn’t specially singled out as being either safe or endangered from the effects of AI, the study noted that the tech scored poorly in terms of emotional nuance and earning trust, aspects that are vital for realtors who are helping their clients through what is likely the most expensive and stressful decision of their lives.

As mentioned above, AI is proving to be an effective tool to assist real estate agents in their duties, but “when the AI tries to directly provide support or advice, people are less satisfied,” the report found, solidifying the fact that – despite the latest tech advancement in the field – realtors will always be needed when it comes to the selling and buying of properties.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – The historic home of a late and extremely notable Las Vegas resident has just gone on the market for $2.5 million, with the property boasting more than a few unusual touches that should only serve to magnify its appeal to buyers.

Lonnie Hammargren, who passed away in 2023, was a former university regent, politician and neurosurgeon who served as the 31st lieutenant governor of Nevada from 1995 to 1999. He became especially known later in life for his home at 4318 Ridgecrest Drive that was filled with a vast array of unique artifacts and memorabilia that he would allow the public in to view every Nevada Day, which commemorates the state’s October 31, 1864 admission to the Union.

In fact, Hammargren’s collection grew to such massive size that he eventually purchased two neighboring houses, which he essentially utilized as extended showrooms for it.

His collection included many eclectic artifacts, including Liberace’s staircase from the Riviera show, a number of old casino signs, a dragon from the Imperial Palace Hotel, an old mermaid tank from the MGM Grand, and even an Apollo space capsule.

4318 Ridgecrest Drive, Las Vegas – $2,500,000.00

The main house that’s up for sale is 7,268 square feet in size, with four bedrooms, five baths, a six-car garage, a family room and dining room, kitchen and a caterer’s kitchen, marble floors, a planetarium, and a pool.

It was purchased by its current owners in 2017 at an auction after the residence went into foreclosure; at the time, it had fallen into a dilapidated state, but the current owners renovated the property while ensuring Hammargren’s collection remained completely unaltered.

As for the other two neighboring homes, they are currently owned by his widow Sandy and the Astronomical Society of Southern Nevada, of which Hammargren was a member.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – A vacant and shuttered hostel located in Las Vegas’ downtown area that had previously been owned by the late Tony Hsieh has been sold for over $3 million, according to court and property records, with the sale having closed on July 11.

Las Vegas Hostel, located at 1322 Fremont Street, was purchased by landlord George Kanawati for $3,035,000 from Logic Commercial Real Estate, a real estate brokerage firm that was selected by Hsieh’s estate in May 2023 to oversee the sale of several of his downtown assets.

The three-story hostel, listed as “non-operating” and covered with graffiti and boarded-up windows, offers 21,100 square-feet of space and features dorm rooms with four, six or eight beds each – with rates beginning at $18 per night – in addition to 39 private hotel rooms.

Amenities include an attached restaurant, a pool, lounge area, coin-operated laundry and a theater room.

Kanawati has not yet publicly disclosed what he intends to do with the property, which he acquired for the original asking price.

Hsieh passed away in November 2020 at the age of 46 due to injuries suffered in a Connecticut house fire; at the time of his death, he was worth hundreds of millions of dollars.

For two decades, Hsieh headed up retail shoe selling giant Zappos before selling it to Amazon in 2009 for over $1 billion; he later retired as CEO in August 2020. He is also credited for having pledged $350 million to the renovation and revitalization of Downtown Las Vegas.

In February 2021, much of the Las Vegas real estate empire amassed by Hsieh was been listed on the open market by his family, totaling nearly 100 properties throughout the downtown area; Logic Commercial Real Estate was later brought in to sell five of his downtown properties, including the Western Hotel & Casino.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – A Southern Nevada developer has announced plans to develop a mixed-use apartment and retail complex in Las Vegas’ Chinatown area in a section known for urban blight such as graffiti, as well as a series of fires over the years. Construction is anticipated to begin as early as November of this year.

Jonathan Fore, managing partner of Fore Property Company, said that the complex will be called “Pearl” and is slated to take the form of a building boasting 380 apartment units, in addition to 32,550 square feet of retail space on the ground floor.

The project, with a budget of $14 million, will be built upon a dilapidated 10.5-acre plot of land off of Spring Mountain Road – Fore had previously constructed an upscale apartment complex on that road several years ago – approximately one mile west of the Las Vegas Strip.

Currently, the plot of land consists mainly of empty, weed-strewn lots, a closed-down and boarded-up strip club, and several other several unused buildings, many covered with graffiti and surrounded with barbed and razor-wire fencing.

One of the empty buildings was heavily damaged in a fire in 2002, and another suffered a similar fate in 2022. The remaining buildings on the site, Fore said, are slated for demolition once squatters are cleared out.

The project was initially approved by Clark County commissioners in January of this year, with the purchase of the land on the part of Fore taking place in late May for $24.2 million. The seller was real estate firm HMV Group, who were represented in the transaction by Brokerage firm Colliers International.

Pearl will be located near major roadways, Fore said, and it will be within walking distance to the many attractions, entertainment options, and restaurants of the Chinatown commercial district.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com