Jones Apartments is a brand-new, 44-unit community on the west side, just minutes from the Strip and the fast-growing southwest. And it's hitting the market before it stabilizes. Leasing just started, so this is an early look at the deal. A buyer steps in during lease-up and captures the income ramp directly instead of paying a stabilized premium. The asset is a 2026 delivery with granite-look kitchens, new appliances, wood-style flooring, walk-in closets, private balconies, and gated covered parking, sitting on a hard retail corner at Tropicana and Jones with Albertsons, Smith's, and the Tropicana Centre across the street. The cap rate on the listing is in a hypothetical scenario that it is 95% occupied. The property is not currently 95% occupied, but we anticipate for that to be the case soon.