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4905 Courtside Dr Irving, T...

DavisRE Acquires 62-Unit Multifamily Property In Irving From Montego Bay Apartments
SOLDMultiFamily

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

Will Miller

Wellington Realty

Broker

$54M

vol

9 deals

Broker

Texas 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