Golden Bee Properties Acquires 104-Unit Multifamily In North Las Vegas For $14.7M
1555 Balzar Ave, North Las Vegas, NV, USA
$14,700,000
$135/SF
Building Size
108,372 SF
Asset Type
MultiFamily
Closing
Oct 19, 2021
AI
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.
North Las Vegas MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93