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Western Hotel & Casino

Las Vegas’ Iconic Western Hotel & Casino Now Up for Sale for Undisclosed Price

LAS VEGAS, NV – The Western Hotel & Casino, an iconic part of the Las Vegas downtown scene steeped in the rich history of the city, is reportedly up for sale for an undisclosed price.

Originally closing down in 2012, the hotel is one of the many properties in Vegas previously owned by the late Tony Hsieh, who passed away in November 2020 at the age of 46 due to injuries suffered in a Connecticut house fire.

Hsieh – who was worth hundreds of millions of dollars at the time of his death – 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.

A real estate brokerage firm, Logic Commercial Real Estate, was selected by Hsieh’s estate in May 2023 to sell five of his downtown Las Vegas properties, the Western Hotel & Casino being among them.

Boston Omaha Asset Management – an investment firm owned by Logic’s chairman and co-founder Brendan Keating, who was named its co-managing partner four months before the Hsieh listings were announced – recently purchased several downtown properties from Hsieh’s estate for approximately $24.7 million.

The Western Hotel & Casino, as described by the sales pitch, is a “rare, full city block redevelopment opportunity in Downtown Las Vegas.” The establishment, which is two stories tall and has approximately 49 hotel rooms, charged about $37 a night at the time of its closing. Originally built in 1970, the four-parcel property – which sits upon a 1.3-acre plot of land with 300 feet of frontage on Fremont Street – was mainly known for its cheap slot machines, bingo, and table games.

Hsieh’s Downtown Project had previously purchased the property for $14 million in 2013.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Homebuilders

For Second Year in a Row, Nevada Shows Decrease in Number of Housing Permits

LAS VEGAS, NV – As per a new study from online real estate search portal Point2, Nevada has experienced a decrease in the number of housing permits being applied for by developers for the second year in a row.

In 2023, Nevada issued 18,473 new housing permits, made up of single-family homes and apartment units; according to the report, which noted that it acquired its data from the U.S. Census Bureau, this represents an 8 percent decrease year-over-year.

However, once you pick apart the data, some interesting notes surface. While the overall number of housing permits issued last year decreased, the number of single-family home permits increased, whereas permits for apartment complexes and other associated projects took a whopping 32 percent dive.

According to the report, the decrease in apartment project permits in 2023 indicates less emphasis being placed on the multifamily housing market by Nevada developers, which could have the effect of “limiting options for residents seeking affordable housing.”

When specifically looking at development activity in the Las Vegas Valley, the Point2 report stated that 13,073 new permits were issued in 2023, a number that remains approximately on par with the year before. But once again, the particulars in the Valley mirrored those of the state as a whole, with permits for single-family homes increasing but those for apartment projects dropping by 23 percent.

The Point2 study said that this is “suggesting a shift in the region’s housing stock, with implications for the variety of housing in the area.”

While there had been an increase in multifamily units entering the market in the Valley recently – which has served to help stabilize rents – the Point2 report indicates that fewer apartment projects are currently in development than in recent years, with the surge in building brought about by the pandemic now finally slowing down.

Earlier in March, Nevada Governor Joe Lombardo sent a request to President Joe Biden to allow the Bureau of Land Management to release more of the land that it owns in Nevada for housing; currently, the agency owns 48 million acres in Nevada, or approximately 67 percent of the state.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Jose Canseco

MLB Legend Jose Canseco’s Las Vegas Home on Market for $1.6 Million, Listed Six Months with No Takers

LAS VEGAS, NV – Major League Baseball (MLB) legend Jose Canseco has listed his lavish Las Vegas, Nevada home for sale on the open market for the reported amount of $1.6 million.

Canseco, 59, originally purchased the 5,100-square-foot, five-bedroom, four-and-a-half bath residence – located in an affluent, guard-gated master-planned community located a short drive from downtown Las Vegas – in 2021 for $1.1 million, after which he carried out more than $200,000 in renovations and upgrades.

He originally listed the home for sale in September 2023 for $1.7 million; one month later he cut the price by $100,000, and that amount is still what he’s asking despite the property still remaining on the market six months later without any takers.

The home is located in a private cul-de-sac and it’s front and back yards are surrounded by electric fences, something that’s sure to appeal to the security-conscious. It features a Spanish-tile roof, a living room with a marble fireplace and large arched window, a huge kitchen boasting top-of-the-line Wolf appliances, and a formal dining room with a glossy tile floor.

3340 MONTECITO DRIVE, LAS VEGAS – $1,600,000.00

The large bedrooms are luxurious, with the primary suite offering a sitting area and a bathroom with a wraparound marble vanity and glass-enclosed shower.

The house also offers many amenities, including a fitness studio and a backyard with an in-ground pool, a koi pond, a barbecue, and low-maintenance artificial grass. There’s also an attached two-bedroom casita with a full kitchen, living and dining area.

This isn’t the first real estate sale the former pro baseballer has attempted to make in Southern Nevada; in August 2023 he put a car wash he had been running in Vegas up for sale – Jose Canseco’s Showtime Car Wash – although it is currently uncertain if he still remains the owner as of press time.

Canseco played 17 seasons in MLB and is best known for his time with the Oakland Athletics. During his career, he won Rookie of the Year (1986) and the Most Valuable Player award (1988), in addition to being a six-time All-Star. He is a two-time World Series champion with the Oakland Athletics (1989) and the New York Yankees (2000), and in 1988 became the first player in MLB history to hit 40 home runs and steal 40 bases in a single season.

See full listing details for 3340 Montecito Drive, Las Vegas

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Hollywood 2.0

$1.8 Billion Movie Studio Backed by Big-Name Hollywood Players Approved by Clark County

LAS VEGAS, NV – Multiple variances for a $1.8 billion movie studio and mixed-use project backed by Howard Hughes Holdings, Sony Pictures Entertainment and Hollywood A-list actor Mark Wahlberg were officially approved by the Clark County Zoning Commission on Wednesday, with the next step of the process involving sending the plans to the Nevada legislature and Governor Joe Lombardo for their approval as well.

Wahlberg – acting as a consultant on the project – is a proponent of expanding Nevada’s film tax credit program and bringing major film production to Las Vegas, saying he wants to transform the city into “Hollywood 2.0.”

The proposed movie studio and mixed-use project – if fully approved by the Governor and legislature – will be developed on what is currently a dirt lot located near Flamingo Road and Town Center Drive in Summerlin, and will be dubbed “Summerlin Production Studios.”

The facility is slated to be comprised of ten buildings, including a 500,000 square-foot studio and production facility; 100,000 square-feet of retail, restaurant and office space; an emergency medical facility; and a Clark County government satellite office. A fire station that already exists at the property will remain and will be included in the project as well.

Once completed, Summerlin Production Studios is expected to create as many as 10,000 jobs according to David O’Reilly – CEO of Howard Hughes, the developer of Summerlin as well as the proposed studio – and Sony Pictures CEO Tony Vinciquerra, who gave a presentation to Clark County commissioners prior to Wednesday’s vote.

Most high-paying union wages that will be working every day inside and out of these movie productions,” O’Reilly said. “Summerlin has been ranked one of the best master-planned communities for decades. That’s not going to change with the building of a movie studio. It’s only going to make it better.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Mosaic Commerce Center

Mosaic Commerce Center, 34-Acre Industrial Park in North Las Vegas, Purchased for $115 Million

LAS VEGAS, NY – A Delaware-based investment group has reportedly purchased a 34-acre industrial park located in North Las Vegas for $115 million.

The Mosaic Commerce Center – a Class A, mid-bay industrial project comprised of nine buildings totaling 582,510 square-feet – has been sold by Las Vegas-based real commercial real estate firm The Mosaic Companies to KW FUND VII- NORTH BELT ROAD, LP, a subsidiary of Beverly Hills-based real estate investment company Kennedy Wilson.

Construction on the Mosaic Commerce Center – facing Interstate 15 and located about six miles south of Apex Industrial Park – was completed in July 2023 in order to meet the growing demand in North Las Vegas for mid-bay projects for office space and warehouse use. At the time of its sale, the complex was fully-leased with a total of 21 tenant companies, most of whom had moved into the facility in July and August of last year.

The Mosaic Companies issued a statement announcing the sale, with the company’s Founder, Vincent Schettler, saying that KW FUND VII- NORTH BELT ROAD, LP is a strong player in the real estate marketplace and should experience great success with their newest acquisition.

Today, we are delighted to announce the successful sale of Mosaic Commerce Center. This project exemplifies our teams’ dedication to excellence and innovation in the world of industrial real estate,” Schettler said. “We are thrilled that our buyer recognized the value in this project, and we look forward to seeing their continued success of this remarkable industrial complex.”

The sale did not encompass all of the Mosaic Commerce Center’s property; Mosaic Companies still owns approximately four acres, upon which they are planning to develop two service hotels and retail centers. The groundbreaking on the first hotel is scheduled to take place by the end of 2024.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Smartphone with logo of American National Association of Realtors (NAR) on screen in front of website. Focus on center-left of phone display. Unmodified photo.

National Association of Realtors Agrees to Settlement in Antitrust Lawsuits Eliminating Commission Rules

CHICAGO, IL – In a historic settlement that will completely change the current homebuying and selling business model, the National Association of Realtors (NAR) on Friday entered into a settlement in a series of antitrust lawsuits brought against the organization by groups of home sellers by agreeing to pay $418 million in damages and eliminating commission rules, effectively doing away with the 6 percent industry standard.

The agreement to abolish the 6 percent commission standard on the part of NAR – which represents over 1 million Realtors – is expected to significantly reduce the costs associated with buying and selling homes, with experts predicting that commissions are expected to fall anywhere from 25 percent to 50 percent.

Up until Friday’s agreement, sellers paid both their broker and their buyer’s broker during a home sale, which some critics have said has artificially driven housing prices higher. Previously, sellers could pay more than $25,000 in brokerage fees upon the sale of the average-priced U.S. home, which is currently $417,000; those costs are then passed on to the buyer, which in turn leads to higher home prices.

A new set of rules will also be put into place, including prohibiting the amount of compensation an agent will receive from being included on listings posted on multiple listing services (MLS), which some have claimed leads to brokers pushing pricier homes on their customers; previously, NAR had required agents to post their fees on MLS listings.

In addition, brokers are no longer required to subscribe to MLS where properties are given a wide viewing in a local markets, and buyer’s brokers will now be required to enter into written agreements with their buyers.

The home sellers who had sued NAR argued that the cost of the buyer’s agent’s commission should be paid by the buyer who received the service, not by the seller, and that buyers should be able to negotiate the fee with their agent and that sellers should not be responsible for paying it.

In November, a Missouri federal jury ruled in favor of the plaintiffs and against NAR and two other brokerages for a total of $1.8 billion in damages for conspiring to keep agent commissions artificially high; because the lawsuit was an antitrust case, NAR would potentially have had to pay triple damages in the amount of $5.4 billion.

While the other two brokerage is settled, NAR initially vowed to appeal the judgment before finally agreeing to the settlement on Friday, which was announced by NAR interim CEO Nykia Wright in a statement.

NAR has worked hard for years to resolve this litigation in a manner that benefits our members and American consumers,” she said. “It has always been our goal to preserve consumer choice and protect our members to the greatest extent possible. This settlement achieves both of those goals.”

News of the settlement caused shares of real estate firms Zillow and Compass to plummet over 13 percent; Zillow issued a statement saying any significant change to the fee structure could have an industry-wide negative impact, including less business for real estate platforms.

If agent commissions are meaningfully impacted, it could reduce the marketing budgets of real estate partners or reduce the number of real estate partners participating in the industry, which could adversely affect our financial condition and results of operations,” the firm said.

However, Robert Braun – a partner in Cohen Milstein’s antitrust practice that represented the homesellers in the lawsuit – claimed that Friday’s settlement will lead to a more competitive and fair real estate market.

For far too long, home sellers have faced a system recognized by many as blatantly unfair,” he said. “This class action and settlement provides justice for our clients and will require important changes that help future home sellers.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Share Downtown

Two Separate Mixed-Use Apartment Complexes Pitched for Downtown Las Vegas Totaling Almost 400 Units

LAS VEGAS, NV – Two developers – Cherry Development and Schulman Properties – have pitched two separate mixed-use apartment complexes for the downtown Las Vegas area that, when completed, will produce almost 400 units in an effort to address the housing shortage in the city.

Based in Las Vegas, Cherry Development is slated to hold their official ground-breaking later in March on their delayed $27 million shareDOWNTOWN project – originally slated to open in June 2020 – which is located on 1.2 acres of city-owned land at 1100 D Street, the former location of the Greater New Jerusalem Church.

In order for the developer to keep the project costs low and, in turn, keep tenant rent at affordable levels, the city is selling the land to Cherry Development for just $6. When completed, shareDOWNTOWN – which is catering to individuals who work in Las Vegas and who wish to reside near its downtown area – will take the form of a five-story building with 104 one-bedroom apartments, each one approximately 500-square-feet in size. It will feature 20 units going for the current market rate, and 84 units with rent caps determined by the U.S. Department of Housing and Urban Development.

shareDOWNTOWN will offer a business center, a fitness center, a community kitchen, a co-working area with private conference room and an outdoor courtyard. In addition, there will also be a retail component on the ground floor, mainly consisting of restaurants and other assorted eateries, as well as an 8,400-square-foot shop.

The other project – Schulman Properties’ six story, $115 million Ilumina Midtown, located near Charleston Boulevard and Grand Central Parkway – targets a different demographic in the city, as it will offer 275 luxury apartments ranging in size from 600 to 1,800 square feet. It will also have numerous high-end amenities for its tenants, including a 4,000 square-foot restaurant, a 40,000 square-foot health club, a gym, a pool, sports courts and a co-working area.

Ilumina Midtown is currently pending approval by the Las Vegas Planning Commission in April; if given the go-ahead, development is anticipated to begin in spring of 2025, with completion expected in either the summer or fall of 2026.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

AI Avatar

Luxury Real Estate Brokerage Begins Beta-Testing First-Ever “Conversational” AI Avatar on Las Vegas Website

LAS VEGAS, NV – A national luxury real estate broker has taken the industry one step closer to the future – for better or for worse, depending on how you feel about the implications of Artificial Intelligence (AI) – by announcing that it will be beta testing a website across its brokerage operations in Las Vegas featuring a first-of-its-kind fully conversational” AI avatar that will be able to hold discussions and answer questions of prospective buyers.

Luxury Realty Group LLC, a subsidiary of Luxury Realty Group Holdings Inc, has begun testing the vuHome.ai website, claiming that their new AI avatar was created because text, images, and videos aren’t always sufficient to convey the experience of the luxury properties they are trying to sell. Instead, having an AI avatar who can actually converse with the seller and answer specific questions provides a more efficient, time saving approach to selling homes in the Las Vegas region, or at least, they say.

Pulling on up-to-the-minute MLS data, the AI avatar can be verbally asked to search for exact home criteria, including square footage, the number of stories, bedrooms, and baths, and specific amenities such as kitchen islands, pools, mountain views, guard gated communities, and what size garage they need. Within seconds, listings matching their search criteria are offered, and buyers can continue to converse with the AI to have questions pertaining to the properties they were interested in answered, including ones not readily available on traditional websites and portals.

The point, according to Luxury Realty Group, is to provide a more immersive experience for sellers and to allow them to be able to visualize living in the home more effectively. However, it remains to be seen if speaking to an eerily realistic virtual woman staring back at you from a computer screen is the best means of doing so, or if it simply conjures up the “uncanny valley,” a term that describes the sense of discomfort or unease people experience when they encounter a robot with certain human-like characteristics.

The website is currently password-protected and not for public use during its beta testing phase, but a demo video is available upon request by interested sellers, media, and prospective experienced luxury real estate agents in the Las Vegas area.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Historic Diamond Inn Motel

Las Vegas Strip’s Historic Diamond Inn Motel – Along with Iconic Pink Elephant – Set to be Auctioned Off, Demolished

LAS VEGAS, NV – One of the Las Vegas Strip’s most historic properties, the Diamond Inn Motel, closed down last year and has sat vacant and unused ever since. However, new reports indicate that it is set to be auctioned off and most likely demolished along with its iconic mascot – a large sculpture of a pink elephant that greeted visitors to the establishment for many years – signifying an erasure of yet another piece of the Strip’s rich history.

Whereas the Strip had previously featured a number of small motels and resorts, these icons of yesteryear have been giving way to massive megaresorts in the here and now, with the Diamond Inn Motel proving to be one of the last holdouts.

The motel – which is set on 1.36 acres of land and boasts 48 rooms – has called the Strip home for decades, and has witnessed the rise of its massive casino and resort industry from the very beginning, according to the business’ website.

“Built in 1940 the Diamond Inn Motel (then it was called the Desert Isle Motel), is one of the oldest buildings still standing on the Strip, which several decades ago the strip was called Arrowhead Highway/Highway 91,” the website reads. “The first hotel/casino built on the strip was called the El Rancho Vegas Hotel & Casino built in 1941. Later in the ’40’s and 50’s, dozens of motels were built next door, the Mirage, Lone Palm, Desert Rose and many others that were the high points of Old Vegas with their glittering neon signs. The Diamond Inn is still standing proud and operating with a profit after all these years, along with its colorful history (especially the landmark, iconic Pink Elephant)!”

One of the most distinctive features of the Diamond Inn Motel was the pink elephant standing at the front of the property next to the establishment’s sign, inviting weary tourists and locals to come in and rest in one of their rooms after a night of gambling and partying.

The pink elephant came from Disney World, probably in the 50’s,” the website says. “He used to trumpet loudly, but the noise caused some accidents. Because of that, the county made the owner take the sound mechanism out. The pink elephant is like the Diamond Inn’s mascot; thousands of tourists have stopped just to take pictures next to it, just like they do in front of the famous Welcome to Las Vegas sign.”

However, it has been pointed out that the website claim may have been in error and that the elephant most likely came from Disneyland, which opened in 1955, as opposed to Disney World, which opened in 1971.

J.P. King, a company that specializes in real estate auctions, is handling the Diamond Inn auction. The auction began on March 7 and a minimum bid of $12.5 million has been set for the property.

And yes, the pink elephant is indeed included in the sale.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Spring Mountain Ranch, Las Vegas

Spring Mountain Ranch Community

A typical area home on Rustling Leaves Lane within the Spring Mountain Ranch community is shown for sale on the Multiple Listing Service of Las Vegas. List price $595.000. Photo credit: Las Vegas MLS.
A typical area home on Rustling Leaves Lane within the Spring Mountain Ranch community is shown for sale on the Multiple Listing Service of Las Vegas. List price $595.000. March 2024. Photo: Las Vegas MLS.

Spring Mountain Ranch is a gated master-planned community located in the very northwestern section of the Las Vegas Valley. It belongs to the 89143-zip code and offers a convenient location close to a variety of amenities, schools, and stunning mountain views. It is on the east side of the I-95 expressway and in the eastern section of the Kyle Canyon neighborhood. It is surrounded to its south by Providence (southwest), Elkhorn (south) and Tule Springs (southeast)

Developed between 1999 and 2006, the community features approximately 1,620 single and two-story traditional, desert southwest, and contemporary designed homes ranging from approximately 1,300 square feet to luxurious estates exceeding 5,000 square feet. A 528-acre State Park of the same name, Spring Mountain Ranch State Park, is approximately 14 miles south west and has a history dating back to the mid-1800s. In 1976, the park was entered into the National Register of Historic Places as a historic district.

Spring Mountain Ranch is popular for its approximately 15 acres of parks and trails that run throughout the community offering unique opportunities for residents to enjoy jogging, picnics, and other outdoor recreation. Playgrounds scattered across the parks cater to families with young children. The 680-acre Floyd Lamb Park in nearby Tule Springs, is an additional opportunity for a long list of outdoor recreation and is also easily accessible (within just one mile).

The community is an HOA community and has conditions and restrictions which must be followed. It is managed by HOA management group Excellence Community Management, located inside of FirstService Residential Arville off Blue Diamond Road in Las Vegas. An area known as Spring Mountain Ranch Phase 2 is managed by Elkridge HOA. According to the HOA’s website, dues cost $61 per month and cover the management and upkeep of the neighborhood.

Residents enjoy easy access to nearby shopping centers, grocery stores, restaurants, and other essential services. Two major roadways including the Interstate 95 (I-95) and the Las Vegas Beltway offer convenient access to other parts of the Las Vegas Valley. McCarran International Airport is roughly 30 minutes away, while Centennial Hills Hospital is within a 10-minute drive.

Spring Mountain Ranch is within the Clark County School District (CCSD). Children living in both the Phase 1 and Phase 2 sections attend Arbor View High School, Cadwallader Ralph Junior High School, Bilbray James Elementary School (K-2), and either Bilbray James Elementary (3-5) for Phase 1 or Scherkenbach William & Mary Elementary School (3-5) for Phase 2. The area also has private school options. There are also a large number of later year educational options including the University of Nevada Las Vegas, College of Southern Nevada, Nevada State College, National University, Touro University, Roseman University of Health Sciences, University of Phoenix Henderson Learning Center, The Art Institute of Las Vegas, Le Cordon Bleu College of Culinary Arts, International Academy of Design & Technology, ITT Technical Institute, and DeVry University.

Public bus transportation for the area is provided by Regional Transportation Commission of Southern Nevada, or Transit RTC. The primary electricity provider for most of Southern Nevada, including the Las Vegas Valley, is NV Energy. The water supply is provided by the Las Vegas Valley Water District.

If you are considering relocating in or around the Aliante area, our company would be delighted to help you find your way or pick the best place to settle in or find your dream home. Please give us a call at 702.376.7379 so we can answer any questions you may have.

Enterprise

New York-Based Firm Purchases 54 Acres in South Las Vegas; Massive Residential Development Anticipated

LAS VEGAS, NV – According to Clark County property records, JEN Partners – a real estate investment firm based out of New York – recently purchased 54 acres of underdeveloped, residential-zoned land in south Las Vegas for $33.5 million, and speculation is running rampant that the property will be used for a massive residential development.

The land in question is located within the township of Enterprise, just west of the Southern Highlands community; the previous owner was Southern Highlands Investment Partners, and neither they nor JEN Partners responded to queries from local media regarding the sale.

JEN Partners, according to the firm’s website, specializes in “residential land and real estate opportunities,” and has previously built single-family residential developments in such places as Florida, Arizona and Texas. Overall, they have over 150 active or fully realized residential real estate transactions across the country, although their new land acquisition in south Las Vegas will represent their first project in the state of Nevada, provided if JEN Partners indeed chooses to develop it.

Enterprise is an unincorporated town founded on December 17, 1996 and is known as an up-and-coming township as well as one of the fastest growing communities in the United States; as of the 2020 U.S. census, the population of Enterprise was 221,831, a significant increase from the 2000 census that put that number at just 14,676.

Given its degree of rapid growth in recent years – mainly attributed to the development of the 215 Beltway, which connects the Summerlin and Henderson communities and provides easy access to the airport and the Las Vegas Strip – experts say that Enterprise would rank only behind Las Vegas, Henderson and North Las Vegas in terms of the largest cities in the county if it were to incorporate itself today.

Enterprise has recently seen a large boom in building in terms of single-family residential developments, multifamily and apartment construction, including commercial real estate.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Las Vegas tiny home gets overwhelming demand from desperate renters

Tiny Home Generates Big Demand from Desperate Las Vegas Renters on a Budget

LAS VEGAS, NV – In the Las Vegas Valley a tiny home is generating big demand from desperate Las Vegas renters on a budget, with its landlord receiving scores of inquiries from prospective tenants, a situation he said he was not expecting, according to Fox 5 Las Vegas.

The 160-square-foot residence is listed for just $950 a month – half the average rent in the valley, which is currently $1,745 – and is located on the landlord’s own property; he said he built it himself for just $22,000, and did so as a way to help out people during the ongoing economic downturn that the country has been experiencing.

I’ve literally [had] 113 and counting people. [My phone] keeps ringing on wanting to rent it,” the landlord said, who asked to remain anonymous when speaking to local media. “It’s definitely in people’s heart to want to save some money right now. This economy’s tough, and just doing my share on trying to help someone out.”

This isn’t the first time that this generous landlord has put such an offering on the market, having built dozens of other small homes that he rents out. In 2021, the Nevada State Legislature passed a law that requires cities whose populations are higher than 150,000 to create zoning laws for tiny homes, with compliance required by 2024.

The $950 rent includes all utilities and services, including water, electricity, internet, garbage removal, and plumbing. The interior boasts a small pull-down table for dining, a kitchen with a cooktop stove, a bathroom, a washer and dryer combo, and a bedroom located in an upper loft overlooking the main floor.

In addition, the tenant that snags this property will also enjoy a small backyard space, including a garden and a table and chair.

The landlord noted the interested parties run the gamut from a family of four to numerous single parents with children and pets. But the one uniting factor that all of the prospective tenants share is a need for affordable housing, and they are apparently willing to sacrifice some living space in order to acquire it.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.