Kent Myers & Patrick Strake Acquires 102-Unit Multifamily Property In Lumberton
187 South Lhs Drive, Lumberton, Texas 77657, United States
Building Size
107,874 SF
Asset Type
MultiFamily
Closing
Apr 26, 2022
AI
The multifamily property located at 187 S Lhs Dr in Lumberton has been sold. The transaction took place on April 27, 2022. The property consists of 102 units with a total square footage of 107,874. The property was sold in the market of Lumberton.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: N/A
- Address: 187 S Lhs Dr
- Market: Lumberton
- Units: 102
- Square Footage: 107,874
The sellers were represented by Kent Myers & Patrick Strake from Marcus & Millichap. They acted as the brokers in the deal.
Players
Lumberton 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