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300 Lake Lamond Rd, Longvie...

Updated Oct 29, 2024

Private Investor Acquires Property At 300 Lake Lamond Rd Longview With Reps Mark Allen And Courtland Charles
SOLDMultiFamily

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

Courtland Charles

Colliers

Broker

3 deals

Broker
PI
Private InvestorBuyer

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

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