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
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