Golden Bee Properties Acquires 127 Multifamily Units In Las Vegas For $22M
SOLD
$22,000,000
Nevada
See Similar DealsMultiFamily106 SF
SOLD
Golden Bee Properties Acquires 127 Multifamily Units In Las Vegas For $22M
1455 East Katie Avenue, Las Vegas, Nevada 89119, United States
See Similar DealsMultiFamily106 SF
Summary
NEVADA
Asset Type:MultiFamily
Price Per Square Foot:$207,547
Total Square Footage:106 SF
Transaction Type:Sale
The asset involved in the transaction is a multifamily property located at 1455 E. Katie Avenue in Las Vegas, Nevada. It was sold for $22,000,000 and consists of 127 condo units within a larger 226-unit complex, spanning a total square footage of 106,692. The price per unit is $173,228, while the price per square foot is $206.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,000,000
- Units: 127
- Square Footage: 106,692
- Price Per Unit: $173,228
- Price Per Square Foot: $206
- Buyer: Golden Bee Properties - Jonathan Zadok & Marty Berneman
- Broker: David Berneman - Golden Bee Properties
The transaction was represented by David Berneman, who is affiliated with Golden Bee Properties. The buyer, Golden Bee Properties, has plans to reposition the value-add asset over the next three to five years following this bulk acquisition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$78,161.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$104,291.22
Annual Debt Service$1,251,494.69
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