Laguna Point Properties Acquires Las Vegas Multifamily For $129.7M
SOLD
$129,700,000
Nevada
See Similar DealsMultiFamily
Sold 05/02/2022
SOLD
Laguna Point Properties Acquires Las Vegas Multifamily For $129.7M
4020 South Arville Street, Las Vegas, Nevada 89103, United States
See Similar DealsMultiFamily
Sold 05/02/2022
Summary
NEVADA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 4020 Arville St. and 4255 W. Viking Rd. in Las Vegas has been sold for a total of $129,700,000. The transaction took place on May 2, 2022. This property consists of 708 units, resulting in a price per unit of $183,192.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $129,700,000
- Units: 708
- Price per Unit: $183,192
The buyer of the property is Laguna Point Properties, represented by Dan Hick. The deal was facilitated by brokers Pat Sauter and Art Carll-Tangora, who are affiliated with Avison Young.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,917,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$460,796.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$614,844.17
Annual Debt Service$7,378,130.04
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