Updated Oct 28, 2024
TTI Capital Acquires 302-Unit Multifamily Property In Rowlett From Zale Properties Of Dallas
3601 Melcer Drive, Rowlett, Texas 75088, United States
Units
302
Asset Type
MultiFamily
Closing
Sep 27, 2022
About this deal
AI
3601 Melcer Dr. in Rowlett has been sold in a closed transaction. The property is a multifamily building consisting of 302 units. The sale took place on 09/28/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not mentioned
- Address: 3601 Melcer Dr.
- Market: Rowlett
- Units: 302
The buyer of the property is TTI Capital, while the seller is Zale Properties of Dallas. The deal was facilitated by the brokers Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill, and Will Balthorpe, who are associated with Institutional Property Advisors.
Players
Rowlett 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