Tides Equities Acquires Multifamily Property In Las Vegas For $64.5M
5145 Rawhide Street
$64,500,000
$334/SF
Building Size
192,600 SF
Asset Type
MultiFamily
Closing
Jul 20, 2022
AI
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.
Players
Las Vegas MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93