DavisRE Acquires 62-Unit Multifamily Property In Irving From Montego Bay Apartments
4905 Courtside Dr Irving, TX 75038, USA
Building Size
43,075 SF
Asset Type
MultiFamily
Closing
Jun 29, 2023
AI
A multi-family property located at 4905 Courtside Drive in Irving has been sold. The property consists of 62 units with a total square footage of 43,075. The sale involved the buyer, DavisRE, and the seller, Montego Bay Apartments. The transaction was facilitated by Caleb Jones, Will Miller, Charles Larkam, and David Shaffer of Wellington Realty, who represented the seller.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: Not specified
- Address: 4905 Courtside Drive, Irving
- Market: Irving
- Number of Units: 62
- Square Footage: 43,075
Caleb Jones, Will Miller, Charles Larkam, and David Shaffer from Wellington Realty played a crucial role as the seller's representatives in the deal. They contributed their expertise to ensure a successful transaction for Montego Bay Apartments.
Players
Texas MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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