Updated Sep 9, 2024
Northmarq Arranges Sale Of 128-Unit Candlelight Park In Duncanville For Undisclosed Buyer
1407 Candlelight Ave
Units
128
Asset Type
MultiFamily
Closing
Apr 26, 2023
About this deal
AI
A 128-unit apartment complex located in Duncanville, Texas has been sold. The property, known as Candlelight Park, was built in 1980 and offers one-, two-, and three-bedroom units. Amenities include a playground and laundry facilities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 128
- Market: Duncanville
Taylor Snoddy, Eric Stockley, Philip Wiegand, and Charles Hubbard from Northmarq represented the undisclosed seller in the transaction. Kevin Leamy, also from Northmarq, secured fixed-rate Freddie Mac acquisition financing for the undisclosed buyer.
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MultiFamily
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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