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220 West Alabama Street

Updated Sep 28, 2026

Cody Lutsch Of Fat Property Acquires 220 & 230 West Alabama Street Multifamily In Houston
SOLDMultiFamily

Cody Lutsch Of Fat Property Acquires 220 & 230 West Alabama Street Multifamily In Houston

220 West Alabama Street & 230 West Alabama Street

Units

131

Asset Type

MultiFamily

Closing

Sep 15, 2026

About this deal

AI

The transaction involved 220 & 230 West Alabama Street, two multifamily properties located in Midtown Houston, Texas, comprising a total of 131 units. The properties were originally built in 1960 and 1965 and offer a mix of studio, one-, and two-bedroom units along with amenities such as pools, fitness centers, and pet-friendly facilities.

Summary of transaction details:

This acquisition highlights the collaboration of multiple brokerage representatives from Berkadia who facilitated the transaction between Fat Property and Realty Center Management. The deal represents a strategic move in the competitive multifamily market of Houston.

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Players

Chris Curry

Berkadia

Broker

31 deals

Broker

Cody Lutsch

Fat Property

Buyer

1 deal

Buyer
Realty Center Management
Realty Center ManagementSeller
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Houston MultiFamily Market Snapshot

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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

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