Updated Oct 28, 2024
Abacus Capital Group Acquires 240-Unit Multifamily Property In Fort Worth From Hudgins Cos
315 West Magnolia Avenue, Fort Worth, TX 76104
Building Size
240 SF
Asset Type
MultiFamily
Closing
Apr 23, 2020
About this deal
AI
The multifamily property located at 315 W Magnolia Ave in Fort Worth has been sold. The transaction took place on April 23, 2021. The property spans over 2 acres and consists of 240 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 315 W Magnolia Ave, Fort Worth
- Market: Fort Worth
- Units: 240
- Acres: 2
The seller of the property was Hudgins Cos, while the buyer was Abacus Capital Group. The transaction was facilitated by the brokers Drew Kile, Michael Ware, Taylor Hill, Joey Tumminello, and Will Balthrope from Institutional Property Advisors (IPA).
Players
Fort Worth 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