37th Parallel Properties Sells 202-Unit Multifamily Property In Allen, TX
1500 South Jupiter Road, Allen, Texas 75002, United States
Units
202
Asset Type
MultiFamily
Closing
Sep 7, 2022
AI
In Allen, a multifamily property located at 1500 S. Jupiter Rd. has been sold. The property consists of 202 units spread over 10 acres.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: 09/08/2022
- Address: 1500 S. Jupiter Rd.
- Market: Allen
- Units: 202
- Acres: 10
The seller of the property was 37th Parallel Properties. The transaction was facilitated by Taylor Hill, Michael Tumminello, Ware Tumminello, Joey Tumminello, Drew Kile, and Will Balthrope of Institutional Property Advisors (IPA), Marcus & Millichap.
Players
Allen 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