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14501 Empanada Drive

The Park At San Marino Sold As MultiFamily In West Houston With IPA Brokers
SOLDMultiFamily

The Park At San Marino Sold As MultiFamily In West Houston With IPA Brokers

14501 Empanada Drive

Building Size

Asset Type

MultiFamily

Closing

Feb 25, 2025

AI

The Park at San Marino is a 384-unit apartment complex located at 14501 Empanada Drive in Houston. This multifamily asset was recently sold, although the sale price remains undisclosed.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: Undisclosed
  • Units: 384
  • Address: 14501 Empanada Drive
  • Market: Houston

Greg Austin, Travis Austin, Jackson Hart, Will Balthrope, and Kyle Devillier of Institutional Property Advisors represented both the seller and buyer in this transaction, both of which are LLCs. The sale highlights the continued interest in multifamily properties within the Houston market.

Players

Will Balthrope

Institutional Property Advisors

Broker

$503.3M

vol

89 deals

Broker

Houston 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