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137 Elm Street

Drew Pierce Acquires 32-Unit Multifamily Property From Janet Allen In Lockhart, TX
SOLDMultiFamily

Drew Pierce Acquires 32-Unit Multifamily Property From Janet Allen In Lockhart, TX

137 Elm Street

Building Size

21,475 SF

Asset Type

MultiFamily

Closing

Jul 22, 2025

AI

The property involved in this transaction is a multifamily asset located at 137 Elm Street in Lockhart, TX (Austin MSA). The property comprises 32 units and offers a total square footage of 21,475.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not disclosed
  • Address: 137 Elm Street
  • Market: Lockhart, TX (Austin MSA)
  • Units: 32
  • Square Footage: 21,475
  • Buyer: Drew Pierce
  • Seller: Janet Allen
  • Broker: Patrick Strake - Franklin Street

The deal features Drew Pierce as the buyer, while Janet Allen serves as the seller. The transaction was facilitated by Patrick Strake, representing Franklin Street as the broker in this deal.

Players

Patrick Strake

Franklin Street

Broker

4 deals

Broker
Franklin Street
Franklin StreetBrokerage

Lockhart 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