AMAC Acquires Montopolis Dr Multifamily In Austin For $61.9M
SOLD
$61,900,000
Texas
See Similar DealsMultiFamily
Sold 11/18/2021
SOLD
AMAC Acquires Montopolis Dr Multifamily In Austin For $61.9M
2405 Montopolis Drive, Austin, TX 78741, USA
See Similar DealsMultiFamily
Sold 11/18/2021
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Sale
2405 Montopolis Dr, a multifamily property located in Austin, was recently sold for a total price of $61,900,000. The sale took place on November 18, 2021 and involved a total of 288 units, with a price per unit of $214,931. Maurice Kaufman represented the buyer, AMAC, in the transaction, while the seller was Mont Apartments.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $61,900,000
- Address: 2405 Montopolis Dr, Austin
- Market: Austin
- Units: 288
- Price Per Unit: $214,931
Maurice Kaufman, from AMAC, played a pivotal role as the representative of the buyer in this transaction. The seller, Mont Apartments, was successful in finalizing the sale of the multifamily property located at 2405 Montopolis Dr for a significant amount.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,301,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$219,917.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$293,437.58
Annual Debt Service$3,521,250.96
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