AptVest Sells 228-Unit Multifamily Asset In Irving Texas With Marcus & Millichap Brokerage
3328 Willow Creek Drive
Building Size
127,680 SF
Asset Type
MultiFamily
Closing
Mar 4, 2025
AI
The Flats at 183 is a multifamily property located at 3328 Willow Creek Drive in Irving, Texas. This apartment community consists of 228 units and covers a total square footage of 127,680. The property was originally built in 1968 and has undergone significant renovations amounting to $4.1 million since 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 228
- Square Footage: 127,680
- Address: 3328 Willow Creek Drive
- Market: Irving
- Seller: Kevin Parrish, Brett Zaitoon & Eric Willis - AptVest
- Brokerage: Bard Hoover & Nick Fluellen - Marcus & Millichap
The transaction involved representatives from Marcus & Millichap, Bard Hoover and Nick Fluellen, who facilitated the deal on behalf of the seller, AptVest. The buyer has plans for further improvements to the property following the recent renovations.
Players
Irving 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