1300 Fremont Street, Las Vegas, NV 89101
The Siegel Group acquired three multi-residential properties consisting of 247 units located along the East Fremont Corridor in Downtown Las Vegas in a distress sale from an out-of-state investment group. As a result of the absentee ownership and poor management the properties suffered from high vacancy, low rates and substantial deferred maintenance.
Notable improvements and enhancements to the property included:
- Complete renovation of all 247 units as well as update to façade that included new paint, upgrades to office and laundry areas, exterior lighting, stone veneer enhancements, roof and parking lot improvements, repair of exterior walkways and decks, new property fencing and the installation of amenity signage and multiple monument signs
- Modernized facilities to bring both structures into compliance with present day building and life safety codes which included new fire panels and monitoring system
- Implemented new amenities including wireless internet and security patrol
- Converted traditional apartment complexes to The Siegel Group’s signature Siegel Suites brand that provides flexible living and payment arrangements with average occupancies exceeding 90% per location. Implemented Siegel Suites Rewards; a multi-tiered program that has been an invaluable tool in building and maintaining the brands loyal customer base by providing residents with the opportunity to earn points for paying their rent which can be used towards free rent, food, gift cards, electronics and more
- Completed renovation and stabilization process in 15-month period