BRT Apartments Corp Acquires Multifamily Property In Houston For $24.5M
SOLD
$24,500,000
Texas
See Similar DealsMultiFamily266,468 SF
Sold 06/06/2020
SOLD
BRT Apartments Corp Acquires Multifamily Property In Houston For $24.5M
21717 Inverness Forest Boulevard, Houston, TX 77073
See Similar DealsMultiFamily266,468 SF
Sold 06/06/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$91
Total Square Footage:266,468 SF
Transaction Type:Sale
The multifamily property located at 21717 Inverness Forest Blvd in Houston has been sold. The transaction took place on 06/06/2021 for a sale price of $24,500,000. The property is owned by BRT Apartments Corp, with Jeffrey A. Gould and Mitchell Gould representing the seller.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $24,500,000
- Seller: BRT Apartments Corp - Jeffrey A. Gould & Mitchell Gould
- Address: 21717 Inverness Forest Blvd, Houston
Jeffrey A. Gould and Mitchell Gould acted as the representatives of the seller, BRT Apartments Corp. The transaction marks a significant deal in the Houston market.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$87,043.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,142.50
Annual Debt Service$1,393,709.99
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