This confidential memorandum summarizes an investment opportunity to purchase the 22-unit Radcliff Apartments in Las Vegas, Nevada for $1.7 million. The property is fully leased to U.S. Vets, a nonprofit provider of housing for veterans, under a master lease for $16,000 per month. The memorandum provides financial projections showing a 6% preferred return and 15.65% 5-year IRR for investors. It also highlights the property's location near the Las Vegas Strip and public transportation, as well as the strong multifamily housing market fundamentals in Las Vegas.

1. Confidential Investment Memorandum
Radcliff Apartments
2566 Sherwood Street, Las Vegas Nevada
22 Units, Class C Workforce Housing
Investment Opportunity
The following information is an investment summary provided to prospective investors and others. This information is not an offering to sell
neither a security nor a solicitation to sell a security. At the request of a recipient, the Company will provide additional investment materials,
a subscription agreement and the limited liability company operating agreement. Real estate values, income, expenses and development costs are
all affected by a multitude of forces outside the Managing Member’s control. This investment is illiquid and only those persons that are able and willing to
risk their entire investment should participate.

2. Disclosure
The information contained herein is confidential and solely for the use of
prospective investors to determine their interest in investing in Radcliff
Apartments located in Las Vegas, Nevada. While the information
contained in this overview, plan, and projection is believed to be reliable
based on data from various sources, neither Mike Ballard or Kevin
Romney nor their representatives make any representations, guarantees
or warranties as to the accuracy or completeness herein.
All financial information and projections are provided for reference only
and are based on assumptions relating to the general economy, market
conditions and other factors beyond our control. All prospective investors
are encouraged to conduct their own independent due diligence
investigation, review, and financial analyses. They should consult with
their legal, tax, and other professional advisors before making any
investment decisions. Do not distribute without authorization from the
deal sponsors.

3. Executive Summary
This community consists of 22 units ideally situated
in the heart of Las Vegas. Built in1962, this
community is comprised of one garden-style building
with studio, one-bedroom and two-bedroom floor
plans. It has a gated courtyard which provides a
sense of security for residents.
The Radcliff Apartments sits on approximately 0.68
acres (zoned H1) and is located in central Las
Vegas. The community is blocks away from the Las
Vegas Strip.
This location provides residents convenient access
to nearby public transportation, including bus stops
and the Las Vegas Monorail.
This property is master leased with the U.S. Vets,
the nation’s largest nonprofit provider of
comprehensive services to homeless and at-risk
veterans. They are a credit worthy tenant with
funding from U.S. Veterans Administration, the
United Way and multiple municipal governments.
Investment Details
Capital Required $730,000
Minimum Investment $25,000
Investment Due Date Dec. 10, 2020
Closing Date Dec. 31, 2020
Preferred Return 6%
5 yr. IRR 15.65%
Investor Equity Multiple 1.94
Project Details
Purchase Price $1,700,000
Number of Units 22
Price Per Unit $77,273
Acres .68
Year Built 1962

4. Property Summary
Investment Summary
Purchase Price $1,700,000
Units 22
Price Per Unit $77,273
Price per S.F. $94.44
Acres .68
Property Information
Rentable Area 18,000 sq. ft.
Year Built: 1962
Gross Potential Rent $192,000
Average Unit Size 818 sq. ft.
Physical Occupancy: 100%
Unit Mix
Type # of Units Unit Size Master Lease
0x1 2 500 -
1x1 12 750 -
2x1 8 1,000 -
Total/Average 22 750 $16,000

5. Investment Rationale
• Two years remaining on a three year master lease with U.S. Vets
• U.S. Vets is a credit-worthy non-profit that was founded in the 1990’s.
They are funded by the Veteran’s Administration, the United Way and
various municipalities
• With the master lease, the property will have zero vacancy, collection
loss and bad debt along with lower property management fees.
• U.S. Vets cover all turnover costs and some capital improvement costs.
• Camino Verde Group owns the property across the street and another
property in the vicinity
• Proximity will allow economies of scale
• Property has valuable H-1 zoning for gaming

6. Location
Wynn & Encore
Resorts
Resorts World
Drew Las Vegas
(Marriott)​
Las Vegas Convention Center
Las Vegas Country Club
Sahara Las Vegas
Stratosphere
Property
Westgate

7. PropertiesProperties
Sahara Avenue Sahara Avenue
Karen AvenueKaren Avenue
JoeW.BrownDrive
VanPattenStreet
SherwoodStreet
Sahara Avenue Sahara Avenue
Karen AvenueKaren Avenue
JoeW.BrownDrive
VanPattenStreet
SherwoodStreet
North
Existing
CVG Properties
Property UC
Subject
Property
28 22
24
Sahara Avenue Sahara Avenue
Karen AvenueKaren Avenue
JoeW.BrownDrive
VanPattenStreet
SherwoodStreet
North
Existing
CVG Properties
Subject
Property

8. Market Data

9. The coronavirus pandemic and ensuing closures severely
impacted the Las Vegas metro. Prior to the pandemic, the
Las Vegas market was seeing strong growth with both job
and population outpacing the National Index. The Las Vegas
economy is rebounding with all major casinos reopened and
employment is rising. The apartment market demand is
weathering the pandemic better than anticipated so far.
Several major organizations are adding more than 20,000
positions in 2020 and 2021, slightly exceeding the previous
five-year average. Many of these projects are within waking
distance to The Radcliff apartments, including:
• Resorts World, 3,500 room hotel located in the heart of
the strip. Employment: 6,000 permanent jobs
• Las Vegas Convention Center, $1.4B expansion, 7,800
jobs
• Raiders Stadium, 6,000 jobs
• Circa Resort, 1,500 jobs
Solid rental demand this year, even through the pandemic,
has compressed vacancies down to 5.7 percent below the
national average of 6.7 percent.
Yardi Matrix’s August 2020 Multifamily Housing Market
Report indicates that rent growth in Las Vegas for the rent by
necessity asset classes was the fourth strongest in the
nation.
Local Economic Indicators
Resorts World Las Vegas
Daily Vacancy Rate

10. Exterior

11. Return of Capital
Multiple Exit Plans
• Plan A: Execute five-year business plan and sell,
or
• Plan B: Hold long-term and potentially refinance to
return capital tax-free to investors for cash flow.

12. Project Dashboard

13. Capital Expense Forecast
Capital Expenses
Paint & Stucco $5,000
Facia $6,000
Disposals $4,000
Plumbing $5,000
Roof $5,000
AC Units $10,000

14. Five-year Operating Forecast

15. Investor Returns

16. Why Invest in Multifamily?
Best Risk-Adjusted Returns
Over the 25-year period from 1992 through 2017, multifamily real estate
provided the highest average annual total returns (9.75%) of any commercial
real estate sector with the second lowest level of volatility (7.75%), according
to research cited in a 2018 report by CBRE, the world’s largest commercial real
estate investment firm.
Millennials Place Strong Demand On Rental Properties
According to data from the U.S. Census Bureau, renting represents the most
common form of housing for the millennial generation, the largest generation
in U.S. history. The national rate of homeownership for millennials aged 25 to
29 it was just 31% and for millennials aged 30 to 34 it was only 45%.
Baby Boomers Are Increasingly Opting To Rent
The National Multifamily Housing Council and National Apartment Association
cited in a 2017 report that renters aged 55 and above account for more than
30% of rental households.
Lease Agreements Allow For Faster Increases In Rent
Office, industrial and retail leases are typically five years or more. Multifamily leases
are typically just one year.
Increasing Demand For Workforce Housing
According to the 2017 State of the Nation’s Housing study by Harvard Research,
comes down to simple supply and demand. As the study found, while construction of
high-end Class A properties has increased in recent years, it has fallen for the Class B
and C properties. In other words, workforce housing is facing a shortfall of units.
That study found, for example, that in the decade between 2005 and 2015, the
supply of rental housing stock increased by nearly 100% for high-end units, but
during that same period the stock of affordable units fell by 2%.
Preferential Investment For Financing
Multifamily investments enjoy a preferential mortgage market and better funding
terms relative to other types of commercial real estate.

17. SPONSORSHIP TEAM

18. Radcliff Apartments
2566 Sherwood Street Las Vegas Nevada, 22 Units
Confidential Investment Memorandum
For more information contact
Mike Ballard at
702-467-0789
Mike@caminoverdegroup.com
or
Kevin Romney
702-379-8857
Kevin@caminoverdegroup.com