Press Release brought to you by NAI Vegas

NAI Vegas Sells 240 Multifamily Units! | Las Vegas, NV

08/10/2016

Majestic Heights Apartments

5325 E. Tropicana Avenue, Las Vegas, NV 89122

Transaction Details

  • $18,600,000 Sale Price
  • All Cash
  • 20 Day Transaction
  • 5.51% Cap on T-12 Income
  • 94% Occupied
  • Built in 1990

 

NAI Vegas’ Sauter Multifamily Group is pleased to announce the successful negotiation and sale of Majestic Heights Apartments, 240 Unit Apartment Building located at 5325 E. Tropicana Avenue, Las Vegas, NV for $18,600,000 ($77,500 per unit) on 07-27-16.

Art Carll and Patrick J. Sauter are pleased to have represented the Seller; Majestic Heights Owner, LLC and the opportunity to work with the Buyer; Aspen Square Management, Inc. in this successful transaction.

 

About NAI Vegas

NAI Vegas is the local representative of NAI Global, the premier international real estate services organization, with over 375 offices in over 55 countries.

Founded in 1988, NAI Vegas has proven itself to be the leading real estate brokerage in Las Vegas. Principals of NAI Vegas have been involved in investment and commercial real estate in Las Vegas since 1972 and have brokered, developed over $3 billion in transactions consisting of multifamily units, retail enters, office buildings and land.

Our strength is international and our passion and focus is local.

08/10/2016 - 10:00

Source

NAI Vegas

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