Tides Equities Acquires Las Vegas Multifamily Property For $110M
SOLD
$110,000,000
Nevada
See Similar DealsMultiFamily434,910 SF
Sold 10/18/2021
SOLD
Tides Equities Acquires Las Vegas Multifamily Property For $110M
6501 W Charleston Blvd, Las Vegas, NV, USA
See Similar DealsMultiFamily434,910 SF
Sold 10/18/2021
Summary
NEVADA
Asset Type:MultiFamily
Price Per Square Foot:$252
Total Square Footage:434,910 SF
Transaction Type:Sale
On October 18, 2021, a multifamily property located at 6501 W Charleston Blvd in Las Vegas, NV was sold for a total price of $110,000,000. The property consists of 508 units with an average price per unit of $216,535. The total square footage of the property is 434,910, with a price per square foot of $253.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $110,000,000
- Units: 508
- Price Per Unit: $216,535
- Square Footage: 434,910
- Price Per Square Foot: $253
The buyer of the property is Tides Equities, represented by Sean Kia and Ryan Andrade. The seller of the property is Nitya Capital. The deal was facilitated by the brokerage firm Northmarq.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$390,806.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,456.12
Annual Debt Service$6,257,473.43
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