Updated Dec 21, 2023
DLP Capital Acquires Multifamily Property With 235 Units In Houston
4971 Martin Luther King Jr Boulevard, Houston, Texas 77021, United States
Building Size
1,396 SF
Asset Type
MultiFamily
Closing
Feb 15, 2022
About this deal
AI
The multifamily property located at 4971 Martin Luther King Jr Blvd in Houston has been sold in a recent transaction. The property consists of 235 units and was sold by the seller, Don Wenner. The sale took place on February 16, 2022, with a transaction amount that has not been disclosed.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: February 16, 2022
- Address: 4971 Martin Luther King Jr Blvd, Houston
- Market: Houston
- Number of Units: 235
In this transaction, the buyer was DLP Capital, represented by Don Wenner. The buyer's representative played a key role in the deal, ensuring the smooth transfer of ownership for the multifamily property.
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
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