Laguna Point Acquisitions Acquires 996-Unit Multifamily In Las Vegas For $126M
SOLD
$126,000,000
Nevada
See Similar DealsMultiFamily
Sold 06/01/2022
SOLD
Laguna Point Acquisitions Acquires 996-Unit Multifamily In Las Vegas For $126M
370 East Harmon Avenue, Las Vegas, Nevada 89169, United States
See Similar DealsMultiFamily
Sold 06/01/2022
Summary
NEVADA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 370 E Harmon Ave in Las Vegas, NV has been sold in a closed transaction. The property consists of 996 units and was sold for a total price of $126,000,000, resulting in a per unit price of $126,506.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $126,000,000
- Units: 996
- Price per Unit: $126,506
The buyer of the property is Laguna Point Acquisitions, while the seller is 3D Investments. The transaction was facilitated by brokers Patrick Sauter, Art Carll-Tangora, and Steve Nosrat from Avison Young.
No additional information regarding the property or the individuals involved in the deal is available at this time.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,720,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$447,651.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$597,304.28
Annual Debt Service$7,167,651.39
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