CBRE Brokers Sale Of 194-Unit Multifamily Property Cottages At San Marcos Near Texas State University
1415 Craddock Avenue
Building Size
—
Asset Type
MultiFamily
Closing
Apr 25, 2025
AI
The transaction involves the sale of a multifamily asset located at 1415 Craddock Avenue in the San Marcos market. This property consists of 194 units and accommodates 899 beds, specifically designed for student housing. It features extensive amenities suitable for tenants, contributing to its appeal near Texas State University.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 194
- Beds: 899
- Address: 1415 Craddock Avenue
- Market: San Marcos
- Seller: Singapore-based real estate firm
- Buyer: Not disclosed
The brokers involved in this transaction include Casey Schaefer, Jaclyn Fitts, and William Vonderfecht from CBRE, who facilitated the sale of the Cottages at San Marcos. Their representation played a crucial role in concluding the deal on behalf of the parties involved.
Players
San Marcos 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