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
Lockhart MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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