Updated Feb 28, 2025
The Park At San Marino Sold As MultiFamily In West Houston With IPA Brokers
14501 Empanada Drive
Units
384
Asset Type
MultiFamily
Closing
Feb 25, 2025
About this deal
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.
On the Map
MultiFamily
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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