Ilan Investments LLC Acquires 216-Unit Summit Ridge Apartment Complex In Temple
5433 West Adams Avenue
Building Size
—
Asset Type
MultiFamily
Closing
Mar 27, 2026
AI
The multifamily asset located at 5433 West Adams Avenue in the Temple market consists of 216 units within the Summit Ridge apartment complex. The property offers various unit types ranging from one to three bedrooms and includes amenities such as a pool, dog park, clubhouse, business center, and fitness center.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 216
- Buyer: Ilan Investments LLC
- Brokers: Will Balthrope - Institutional Property Advisors; Tommy Lovell III & Richard Robson - Marcus & Millichap
The transaction was facilitated by Institutional Property Advisors and the Marcus & Millichap division, with Will Balthrope, Tommy Lovell III, and Richard Robson representing the seller and procuring the buyer.
Players
Temple 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