Updated Oct 29, 2024
Private Investor Acquires Property At 300 Lake Lamond Rd Longview With Reps Mark Allen And Courtland Charles
300 Lake Lamond Rd, Longview, TX, 7...
Units
160
Asset Type
MultiFamily
Closing
Nov 19, 2023
About this deal
AI
The property asset involved in the transaction is a multifamily community known as Bella Oaks, located at 300 Lake Lamond Rd, Longview, TX. The community consists of 160 units that were built in 1971. The one-, two-, and three-bedroom units range in size from 688 to 1,088 square feet and feature amenities such as granite countertops and walk-in closets. Additional community amenities include a pool, playground, and onsite laundry facilities.
Summary of transaction details:
- Property Type: Multifamily Community
- Transaction Amount: Not Disclosed
- Address: 300 Lake Lamond Rd, Longview, TX
- Market: Longview
- Buyer: Private Investor
- Seller's Representatives: Mark Allen - Global Real Estate Advisors - GREA, Courtland Charles - Colliers International
- Buyer Representation: Not Specified
The deal was facilitated by Mark Allen and Courtland Charles who represented the seller in this transaction. The buyer is a California-based investor who acquired the property through a 1031 exchange. The transaction highlights the involvement of established real estate advisors within the closing process.
Players
Longview MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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