Next Wave Acquires Multifamily Property In Las Vegas For $50M
SOLD
$50,000,000
Nevada
See Similar DealsMultiFamily
Sold 06/16/2022
SOLD
Next Wave Acquires Multifamily Property In Las Vegas For $50M
1075 East Desert Inn Road, Las Vegas, Nevada 89169, United States
See Similar DealsMultiFamily
Sold 06/16/2022
Summary
NEVADA
Asset Type:MultiFamily
Transaction Type:Sale
1075 E Desert Inn, a multifamily property located in Las Vegas, NV, has been sold in a closed transaction. The sale was conducted by Next Wave, represented by Jordan Fisher. The property was sold for a price of $50,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Address: 1075 E Desert Inn, Las Vegas, NV
- Market: Las Vegas, NV
Jordan Fisher of Next Wave led the transaction as the seller's representative. The sale of 1075 E Desert Inn demonstrates the strong market demand for multifamily properties in Las Vegas, NV.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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