Tides Equities Acquires Multifamily Property In Las Vegas For $64.5M
SOLD
$64,500,000
Nevada
See Similar DealsMultiFamily192,600 SF
Sold 07/20/2022
SOLD
Tides Equities Acquires Multifamily Property In Las Vegas For $64.5M
5145 Rawhide Street
See Similar DealsMultiFamily192,600 SF
Sold 07/20/2022
Summary
NEVADA
Asset Type:MultiFamily
Price Per Square Foot:$334
Total Square Footage:192,600 SF
Transaction Type:Sale
The multifamily property located at 5145 Rawhide St. in Las Vegas, NV has been sold in a recent transaction. The property spans a total area of 192,600 square feet and comprises 216 units. The sale price for this asset was recorded at $64,500,000, resulting in an average price per unit (PPU) of $298,611 and a price per square foot (PPSF) of $334.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $64,500,000
- Address: 5145 Rawhide St., Las Vegas, NV
- Market: Las Vegas, NV
- Buyer: Tides Equities - Sean Kia & Ryan Andrade
- Seller: Oak Residential
- Units: 216
- Price per Unit (PPU): $298,611
- Square Footage: 192,600
- Price per Square Foot (PPSF): $334
The buyer in this transaction is Tides Equities, represented by Sean Kia & Ryan Andrade. The seller of the property is Oak Residential. This sale represents a significant investment in the Las Vegas multifamily market, further indicating the strong demand for properties in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,439,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$229,154.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$305,762.91
Annual Debt Service$3,669,154.88
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