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
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