Levin, Johnston & Millichap Represent Buyer In $39M Multifamily Sale In Haltom City
SOLD
$39,000,000
Texas
See Similar DealsMultiFamily293,972 SF
Sold
SOLD
Levin, Johnston & Millichap Represent Buyer In $39M Multifamily Sale In Haltom City
Springlake Parkway, Haltom City, TX, USA
See Similar DealsMultiFamily293,972 SF
Sold
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$132
Total Square Footage:293,972 SF
Transaction Type:Sale
5301 Springlake Parkway, located in Haltom City, was recently sold for a total of $39,000,000. This multifamily property consists of 380 units, resulting in a price per unit of $102,613.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $39,000,000
- Units: 380
- Price Per Unit: $102,613
- Date: 10/30/2020
- Market: Haltom City
The transaction was facilitated by Adam Levin, Robert Johnston, and Eymon Binesh from Levin Johnston at Marcus and Millichap, acting as the brokers representing the parties involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,080,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$138,558.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,879.90
Annual Debt Service$2,218,558.76
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