Updated Sep 28, 2026
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:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Address: 220 & 230 West Alabama Street
- Market: Houston, TX
- Units: 131
- Buyer: Cody Lutsch - Fat Property
- Seller: Realty Center Management
- Broker Representatives: Kyle Whitney, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel & Tucker Fama - Berkadia
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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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