Updated Dec 4, 2024
Northcap Commercial Sells La Paloma Apartments In Las Vegas For $2M
1509 East Harmon Avenue
$2,000,000
Units
17
Asset Type
MultiFamily
Closing
Sep 7, 2023
About this deal
AI
The La Paloma Apartments in Las Vegas, Nevada have been sold in an off-market transaction. This multifamily property, built in 1978, consists of 17 units. The sale price for the apartments was $2 million, translating to an average price per unit of $117,647. The transaction took place on September 7, 2023.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 1509 East Harmon Avenue, Las Vegas, NV
- Units: 17
- Price Per Unit: $117,647
Northcap Commercial, represented by Devin Lee, Jerad Roberts, and Robin Willett, facilitated the sale of the La Paloma Apartments. They successfully completed an off-market deal for this multifamily property, showcasing their expertise in the Las Vegas market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93