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:
- Property Type: Multifamily Community
- Transaction Amount: Not disclosed
- Address: 4211 Sherwood Ln, Houston, TX, 77092
- Market: Houston
- Buyer: Private LLC
- Seller's Representatives: Christian Mazzini, Jeffrey Fript from Marcus & Millichap
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
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