Updated Dec 21, 2023
Rastegar Property Co. Acquires Austin Multifamily Property On Wheless Ln
2606 Wheless Ln, Austin, TX, USA
Building Size
56,780 SF
Asset Type
MultiFamily
Closing
May 12, 2021
About this deal
AI
The multifamily property located at 2606 Wheless Ln in Austin was recently sold in a closed transaction. The property spans over 56,780 square feet and consists of 70 units. Situated on approximately 3 acres of land, this multifamily asset offers a great investment opportunity in the Austin market.
Summary of transaction details
- Property Type: Multifamily
- Sale Date: 05/13/2021
- Address: 2606 Wheless Ln
- Market: Austin
- Total Square Footage: 56,780
- Number of Units: 70
- Land Size: 3 acres
The buyer of this multifamily property is Rastegar Property Co., represented by Ari Rastegar and Neal Golden.
Players
Austin MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
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