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1402 &Amp; 1407 Acton Avenue

Investor Acquires Candlelight Park Apartments In Duncanville, Texas
SOLDMultiFamily

Investor Acquires Candlelight Park Apartments In Duncanville, Texas

1402 &Amp; 1407 Acton Avenue

Building Size

Asset Type

MultiFamily

Closing

May 5, 2023

AI

An investor has acquired the Candlelight Park Apartments, a 128-unit rental property located at 1402 and 1407 Acton Avenue in Duncanville, Texas. The multifamily asset was sold in a transaction brokered by Taylor Snoddy, Eric Stockley, Philip Wiegand, and Charles Hubbard of Northmarq. With a total of 128 units, the property offers a desirable investment opportunity in the Duncanville market.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: Not provided
  • Units: 128
  • Address: 1402 & 1407 Acton Avenue, Duncanville, Texas
  • Market: Duncanville

The acquisition of Candlelight Park Apartments marks an important move for the investor, adding a substantial multifamily property to their portfolio. The involvement of Taylor Snoddy, Eric Stockley, Philip Wiegand, and Charles Hubbard from Northmarq showcases their expertise in facilitating successful property transactions. This deal highlights the thriving real estate market in Duncanville, Texas.

Players

Philip Wiegand

NorthMarq

Broker

13 deals

Broker

Olavarría 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93