SOLDMultiFamily
Bascom Group Acquires Cypress Multifamily Property On Lakecrest View Drive
17807 Lakecrest View Drive, Cypress, TX, USA
Building Size
1,076 SF
Asset Type
MultiFamily
Closing
Feb 14, 2021
AI
The Bascom Group has acquired a multifamily property located at 17807 Lakecrest View Drive in Cypress. The transaction took place on February 15, 2021. The property consists of 350 units and spans across 13 acres.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: 02/15/2021
- Address: 17807 Lakecrest View Drive, Cypress
- Market: Cypress
- Buyer: Bascom Group
- Brokers: David Mitchell - Newmark, James D’Argenio & Chang Liu - Bascom Group
- Units: 350
- Acres: 13
The deal was facilitated by brokers David Mitchell from Newmark and James D’Argenio, along with Chang Liu from Bascom Group.
Players
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