Charles Hubbard And Eric Stockley Of NorthMarq Represent Seller In Tyler Sale At 5621 Old Bullard Rd
5621 Old Bullard Rd, Tyler, TX, 75703
Units
200
Asset Type
MultiFamily
Closing
Nov 19, 2023
AI
The property involved in this transaction is Finley Apartments, a 200-unit multifamily property located at 5621 Old Bullard Rd, Tyler, TX, 75703. The property, built in 1977, offers one- and two-bedroom units with sizes ranging from 620 to 1,016 square feet. Amenities include a pool, clubhouse, fitness center, tennis court, package handling service, outdoor grilling and dining areas, and onsite laundry facilities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Address: 5621 Old Bullard Rd, Tyler, TX, 75703
- Market: Tyler
- Seller's Representative: Charles Hubbard, Eric Stockley - NorthMarq
- Buyer: Undisclosed
- Loan Originator: Fritz Waldvogel - Colliers Mortgage
In this transaction, Northmarq played a vital role, with Taylor Snoddy, Philip Wiegand, Eric Stockley, and Charles Hubbard representing the undisclosed seller. Additionally, Fritz Waldvogel of Colliers Mortgage originated a 10-year loan on behalf of the buyer, further facilitating the acquisition of the property.
Players
Tyler 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