Rancho Lake Condominiums satisfy needs of multiple buyers

BHP Investors is seeking to meet the needs of valley home buyers with its 300-unit gated Rancho Lake Condominiums development.

Built by partners Joe Brandise, Jim Hagen and Jim Potter, the $30 million development is located at 2057 N. Rancho Drive, just south of Lake Mead Boulevard. They are reporting that more than half of the units have been sold or reserved.

Brandise said he considered the 15-acre site a "natural for development" and "jumped at the opportunity" when the parcel came on the market.

"There's been a shortage of condominiums," he said. "The vacancy rate is 3.75 percent and that's superb. All of our stairways are enclosed and all of the homes look like town homes. We're very satisfied with how things have gone so far."

"Las Vegas is pretty hard to beat," Potter added.

The partnership was formed in 1980. Brandise, who moved to Las Vegas from Phoenix in 1954, built his first apartment complex in the valley in 1979.

The condominium complex consists of three one-bedroom models priced from $95,000; three two-bedroom models priced from $127,000; and three three-bedroom units priced from $145,000. The units range from 719 to 1,105 square feet.

Interior amenities include a refrigerator, dishwasher, range, washer, dryer and window coverings.

Common area amenities include a clubhouse with a pool and spa; a playground; and a barbecue area.

A monthly association fee of $122 covers water, sewer, trash, and maintenance of the clubhouse and buildings' exteriors.

The sales office is open from 9:30 a.m. to 5:30 p.m. weekdays and from 10 a.m. to 5 p.m. on weekends.

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