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4211 Sherwood Ln, Houston, ...

Private LLC Purchases Property From Christian Mazzini And Jeffrey Fript Of Marcus & Millichap
SOLDMultiFamily

Private LLC Purchases Property From Christian Mazzini And Jeffrey Fript Of Marcus & Millichap

4211 Sherwood Ln, Houston, TX, 77092

Units

288

Asset Type

MultiFamily

Closing

Jan 15, 2019

AI

One Pine Apartments is a multifamily community located at 4211 Sherwood Ln, Houston, TX, 77092, in the Houston market. The property consists of 288 units, offering one-, two-, and three-bedroom apartments. It was built in 1972 and includes amenities such as a pool, playground, outdoor grilling area, and a business center.

Summary of transaction details:

Jeffrey Fript and Christian Mazzini represented the seller in the transaction and successfully procured the buyer, both of whom were limited liability companies that requested anonymity. The new ownership plans to implement a value-add program for the property.

Players

Christian Mazzini

Marcus & Millichap

Broker

3 deals

Broker
PL
Private LLCBuyer

Houston 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