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1407 Candlelight Ave

Northmarq Arranges Sale Of 128-Unit Candlelight Park In Duncanville For Undisclosed Buyer
SOLDMultiFamily

Northmarq Arranges Sale Of 128-Unit Candlelight Park In Duncanville For Undisclosed Buyer

1407 Candlelight Ave

Building Size

Asset Type

MultiFamily

Closing

Apr 26, 2023

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.

Players

Philip Wiegand

NorthMarq

Broker

13 deals

Broker

Duncanville 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