Updated Oct 29, 2024
Private Investor Acquires Multifamily Property On Wayforest Dr In Houston, TX
17601 Wayforest Dr, Houston, TX, 77...
Units
155
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The Alara is a 155-unit apartment community located at 17601 Wayforest Dr, Houston, TX. The Class B property offers one- and two-bedroom units along with amenities such as a pool, playground, and a business center.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Not Disclosed
- Market: Houston
- Seller's Representative: Mark Allen (Global Real Estate Advisors (GREA)), Todd Franks ()
- Buyer: Private Investor
Mark Allen and Todd Franks of SVN represented the seller and procured the buyer, who were both out-of-state investors in the transaction of The Alara, a multifamily property in north Houston.
On the Map
MultiFamily
View full map
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas multifamily sales on Traded.
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