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5621 Old Bullard Rd, Tyler,...

Charles Hubbard And Eric Stockley Of NorthMarq Represent Seller In Tyler Sale At 5621 Old Bullard Rd
SOLDMultiFamily

Charles Hubbard And Eric Stockley Of NorthMarq Represent Seller In Tyler Sale At 5621 Old Bullard Rd

5621 Old Bullard Rd, Tyler, TX, 75703

Building Size

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

Philip Wiegand

NorthMarq

Broker

13 deals

Broker

Tyler 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