Zion Capital Acquires Austin Multifamily Portfolio For $43.7M
SOLD
$43,700,000
Texas
See Similar DealsMultiFamily
Sold 08/09/2022
SOLD
Zion Capital Acquires Austin Multifamily Portfolio For $43.7M
5800 Wellington Drive, Austin, Texas 78723, United States
See Similar DealsMultiFamily
Sold 08/09/2022
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily properties located at 5800 Wellington Dr, 6301 Berkman Dr, 6103 Manor Rd, 4520 Bennett Ave, and 918 E 40th Street in Austin have been sold for a total price of $43,700,000. The transaction took place on 08/09/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $43,700,000
- Units: 325
- Price Per Unit (PPU): $134,462
Zion Capital acquired the properties. Chase Johnson, representing Northmarq, served as the mortgage broker for the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,330,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$155,256.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$207,160.29
Annual Debt Service$2,485,923.54
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