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1516 E Irving Blvd, Irving,...

JARS Excel Partners Acquires Multifamily Property In Irving For 248 Units
SOLDMultiFamily

JARS Excel Partners Acquires Multifamily Property In Irving For 248 Units

1516 E Irving Blvd, Irving, TX, USA

Building Size

139,390 SF

Asset Type

MultiFamily

Closing

Dec 29, 2020

AI

Located in Irving, this multifamily property was recently sold on December 30, 2020. The property consists of 248 units and is situated at the intersection of 1516 E Irving Blvd and 409 N Irving Heights Dr.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Date: 12/30/2020
  • Address: 1516 E Irving Blvd & 409 N Irving Heights Dr
  • Market: Irving
  • Units: 248

Roxana Vaziri and Jonathan Benitah from Creative Realty Partners were the sellers, while JARS Excel Partners acted as the buyers. The transaction was facilitated by Taylor Snoddy and Philip Wiegand from NorthMarq, serving as brokers in the deal.

Players

Philip Wiegand

NorthMarq

Broker

13 deals

Broker
CP
Creative Realty PartnersSeller

Irving 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