Tides Equities Acquires 176-Unit Multifamily Property In Las Vegas For $40M
SOLD
$40,000,000
Nevada
See Similar DealsMultiFamily
Sold 07/07/2022
SOLD
Tides Equities Acquires 176-Unit Multifamily Property In Las Vegas For $40M
3985 E Cheyenne Ave, Las Vegas, Nevada 89115, United States
See Similar DealsMultiFamily
Sold 07/07/2022
Summary
NEVADA
Asset Type:MultiFamily
Transaction Type:Sale
Epic Investments has sold a multifamily property located at 3985 E. Cheyenne Avenue, Las Vegas. The property, which spans 9.17 acres, was purchased by Tides Equities for a total price of $40,000,000. The transaction took place on July 7, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Address: 3985 E. Cheyenne Avenue, Las Vegas
- Market: Las Vegas
- ACRES: 9.17
The deal was facilitated by the Sauter Multifamily Group, represented by brokers Patrick Sauter, Art Carll-Tangora, and Steve Nosrat, who work for Avison Young. The property consists of 176 units, with an average price per unit of $227,272.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$189,620.41
Annual Debt Service$2,275,444.88
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