Tides Equities Acquires Multifamily Property In Las Vegas For $113.5M
SOLD
$113,500,000
Nevada
See Similar DealsMultiFamily300,564 SF
Sold 11/22/2021
SOLD
Tides Equities Acquires Multifamily Property In Las Vegas For $113.5M
3800 Wynn Road, Las Vegas, Nevada, USA
See Similar DealsMultiFamily300,564 SF
Sold 11/22/2021
Summary
NEVADA
Asset Type:MultiFamily
Price Per Square Foot:$377
Total Square Footage:300,564 SF
Transaction Type:Sale
Located in Las Vegas, Nevada, a multifamily property located at 3800 Wynn Road has been recently sold. The property spans across 20 acres and is a part of the robust Las Vegas market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $113,500,000
- Address: 3800 Wynn Road
- Market: Las Vegas, Nevada
- Buyer: Tides Equities - Sean Kia & Ryan Andrade
- Seller: 3D Investments
- Units: 555
- Price per Unit (PPU): $204,504
The buyer in this transaction is Tides Equities, represented by Sean Kia & Ryan Andrade. They acquired the property from the seller, 3D Investments.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,053,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$403,241.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$538,047.90
Annual Debt Service$6,456,574.86
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