The Multifamily Group Acquires 126-Unit Multifamily Property In Houston
6655 Ludington Drive, Houston, TX 77035, USA
Building Size
216,929 SF
Asset Type
MultiFamily
Closing
Oct 29, 2021
AI
The multifamily property located at 6655 Ludington Dr in Houston has been sold. The transaction, which took place on 10/29/2021, involved a total of 126 units. Zach Weik from The Multifamily Group (TMG) represented the seller in this deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not provided
Zach Weik, representing The Multifamily Group (TMG), played a crucial role in facilitating this sale. The individuals involved in the transaction ensured a successful completion of the deal for the property located at 6655 Ludington Dr in Houston.
Players
Houston 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