9 Bedroom Las Vegas Vacation Rental Business w/ Property. 9%+ cap

Las Vegas, NV (Clark County)

9 Bedroom Las Vegas Vacation Rental Business w/ Property. 9%+ cap
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Asking Price: $1,250,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: $120,000

Inventory: $5,000

Real Estate: N/A

Established: N/A

9 Bedroom Las Vegas Vacation Rental Business w/ Property. 9%+ cap

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Business Description

SBA Possible, Licensed and Land Entitled Vacation Rental Business

Comes with over $100k in future bookings!

Own and operate a large, five star vacation rental in one of the country’s hottest vacation destinations! This is a rare opportunity to own one of the largest licensed short term rental properties in the City of Las Vegas. The business was one of the first licensed short term rental and has been operating with a five star rating on Homeaway / Vacationrentals.com / VRBO. The business is staffed with housekeeping and maintenance already familiar with the property so an operator can run this from anywhere in the world! The books are current and auditable for the entire history of the operation with multiple year history. 2018 y/y revenue is up 18%. Business sells with real property, furnishings, appliances, supplies, existing bookings and reservations that extend into 2020. Priced at over 9% CAP.

New short term rentals are now BANNED in the Las Vegas valley. This is one of three dozen that is land entitled AND licensed to operate. It is one of a handful that is entitled with no restriction on sale or transfer.

Detailed Information

Location:
Las Vegas, NV
Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
N/A
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Two story, nine bedroom, four and half bath, pool, spa, gym, pool table room, poker room, putting green and playground area on 5000+ SQFT property. All furnishings, appliances, linens and supplies to continue operations on day one! Lights, door locks, cameras, and pool are all automated with custom software to assist with managing property from a smart phone. (Home Based)
Competition:
New short term rentals are now banned in the City of Las Vegas and in Clark County. Under current law, this is one of the few properties that is licensed with a land entitlement that can allow operation of a short term rental in perpetuity. Code enforcement has been aggressive in shutting down unlicensed competition with $1000/day penalties. There are roughly 180 licensed short term rental properties in the city of Las Vegas. Of those, only 30ish have entitlements, and of those, only "a handful" (including this one) have no restrictions on transfer.
Growth & Expansion:
This property has operated only on the Homeaway/VRBO platform. The obvious growth opportunity is to be listed on Airbnb. In the coming years, Las Vegas expects a need for a lot more hospitality accommodation requirements for the Raiders NFL arrival, the rise of the Golden Knights NHL franchise and the $1.4B convention center expansion. A benefit of this business: a buyer may be able to use traditional home (possibly 2nd home) financing products to purchase the real estate portion of the business. We can refer loan brokers in the area if necessary.
Financing:
Pending SBA approval. Owner/Seller is licensed broker.
Support & Training:
Sellers will be available to assist in transition as needed.
Reason for Selling:
Seller has other business interests
Home-Based:
This business is Home-Based
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Business Listed By:
A. Chan

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