Updated Dec 21, 2024
Michael Derk Of Marcus & Millichap Secures $5.16M Refinance For 107-Unit Multifamily In Las Vegas
3890 Cambridge Street
$5,160,000
Units
107
Asset Type
MultiFamily
Closing
Dec 18, 2024
About this deal
AI
The asset involved in the transaction is Katie Court Apartments, a multifamily property located at 3890 Cambridge Street, Las Vegas, NV, comprising a total of 107 units. The refinancing loan secured for this property amounts to $5,160,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,160,000
- Loan Type: Refinance
- Broker: Michael Derk - Marcus & Millichap
- Market: Las Vegas, NV
- Asset Address: 3890 Cambridge Street
Marcus & Millichap Capital Corporation facilitated the refinancing through a local credit union, representing the interests involved in the transaction. This deal underscores the collaboration of key individuals and institutions responsible for successfully securing the financing for the property.
On the Map
$5,160,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.07%
Cash-on-Cash
-0.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93