Kairoi Residential Acquires 840-Unit Multifamily Property On Little Texas Lane, Austin
401 Little Texas Ln, Austin, TX 78745, USA
Building Size
1,073 SF
Asset Type
MultiFamily
Closing
Sep 17, 2020
AI
The multifamily property located at 401 Little Texas Lane in Austin was recently sold. The transaction, which took place on September 18, 2020, involved a total of 840 units. The property was purchased by Kairoi Residential, a real estate investment company. The sale was facilitated by the broker team of Patton Jones and Matt Greer from Newmark Knight Frank.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Market: Austin
The buyers, Kairoi Residential, have made a strategic investment in the Austin market with the acquisition of this multifamily property. With 840 units, the property offers significant potential for rental income and is expected to contribute to Kairoi Residential's portfolio growth. The involvement of Patton Jones and Matt Greer from Newmark Knight Frank as the brokers highlights their expertise in facilitating successful real estate transactions in the Austin area.
Players
Austin 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