Kairos Investment Management Acquires Multifamily Property In Las Vegas For $41.1M
SOLD
$41,100,000
Nevada
See Similar DealsMultiFamily
Sold 11/19/2021
SOLD
Kairos Investment Management Acquires Multifamily Property In Las Vegas For $41.1M
1950 N Simmons St, Las Vegas, NV, USA
See Similar DealsMultiFamily
Sold 11/19/2021
Summary
NEVADA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1950 N. Simmons St. in Las Vegas has been sold for a total price of $41,100,000. The transaction took place on November 19, 2021. The property consists of 195 units, resulting in a price per unit of $210,769. The buyer of the property is Kairos Investment Management Co., represented by Carl Chang, while Strategic Realty Holdings acted as the seller.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $41,100,000
- Address: 1950 N. Simmons St.
- Market: Las Vegas
Carl Chang, representing Kairos Investment Management Co., played a key role as the buyer in this transaction. Strategic Realty Holdings, on the other hand, acted as the seller of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,191,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$146,019.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$194,834.97
Annual Debt Service$2,338,019.62
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