Las Vegas, NV – Avison Young announced today it has brokered the $21.75 million sale ($192,477 per door) of the Mark I Apartments, a 113-unit apartment property located at 1020 E. Desert Inn Rd. in Las Vegas (Clark County). The property, which also features three retail units, is a well-known fixture in the community.
Avison Young Principals Pat Sauter, Art Carll-Tangora, and Steve Nosrat—of the Sauter Multifamily Team—exclusively represented the seller, a Calabasas-based limited liability corporation, in the sale to the buyer, a Seattle-based limited liability corporation.
Built in 1975, Mark I was partially renovated in 2017, with additional interior renovations taking place in 2020 and 2021. The property features of mix of studio, one- and two-bedroom apartments and offers residents amenities such as a fitness center, pool, spa, laundry facility, and clubhouse. The renovated units feature granite countertops, stainless steel appliances, and incredible views are available from all sides of the building.
Mark I is conveniently located near the world-famous Las Vegas Strip, just minutes from the I-15 freeway. It is within walking distance from many services, amenities, shops, and a number of major retail centers. It is also a short drive to many Las Vegas attractions such as the Raiders Stadium, Las Vegas Convention Center, and McCarran International Airport.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada’s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
