Nevada West acquired the apartment complex in 2005 for $45.3 million. In December, published report quoted a sales agent of Nevada West saying the company had only 50 units left to sell. A check of Clark County property records shows that Nevada West still holds title to 83 units. Nevada West Development did not return a phone call seeking comment.
An announcement by Real Estate Disposition Corp. says the units to be auctioned have been valued as high as $285,900 (for three-bedroom, two-bathroom, 1,362-sf unit) and that the starting bids for the smallest units (two-bedroom, two-bathroom, 1,222-sf unit) will start as low as $79,000. As of December, available units were being offered for between $180,000 and $200,000.
The available units will be auctioned off Feb. 10 at Palace Station, according to the announcement. The properties are open for viewing now through then. Unit amenities include marble bath vanities, patios and balconies, oversized garden tubs, and large wardrobe area. Common area amenities include two custom pools and two spas, a park, a clubhouse, and a fitness center.
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