Golden Bee Properties Acquires 104-Unit Multifamily In North Las Vegas For $14.7M
SOLD
$14,700,000
Nevada
See Similar DealsMultiFamily108,372 SF
Sold 10/19/2021
SOLD
Golden Bee Properties Acquires 104-Unit Multifamily In North Las Vegas For $14.7M
1555 Balzar Ave, North Las Vegas, NV, USA
See Similar DealsMultiFamily108,372 SF
Sold 10/19/2021
Summary
NEVADA
Asset Type:MultiFamily
Price Per Square Foot:$135
Total Square Footage:108,372 SF
Transaction Type:Sale
Golden Bee Properties has acquired two affordable housing assets in Las Vegas, adding to its CalNeva Workforce Housing Fund. The properties, located at 1555 Balzar Ave. and 900 Doolittle Ave. in North Las Vegas, NV, were purchased for a total sale price of $14,700,000. This multifamily asset consists of 104 units, with an average price per unit of $141,346. The total square footage of the properties is 108,372, and the price per square foot is $135.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,700,000
- Units: 104
- Price per Unit: $141,346
- Square Footage: 108,372
- Price per Square Foot: $135
- Market: North Las Vegas, NV
The buyer, Golden Bee Properties, was represented by David Berneman from Golden Bee Properties. The loan for the transaction was facilitated by Zalmi Klyne.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$784,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$52,225.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$69,685.50
Annual Debt Service$836,226.00
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