California Firm Sells 152-Unit Multifamily Complex In Dallas Represented By Mark Allen & Chibuzor Nnaji
6864 Larmanda Street
Building Size
—
Asset Type
MultiFamily
Closing
Oct 4, 2024
AI
The property asset involved in the transaction is a 152-unit multifamily apartment complex located at 6864 Larmanda Street in Dallas's Vickery Meadows neighborhood. Originally built in 1968, the complex features one-, two-, and three-bedroom apartments averaging over 800 square feet each. The sale reflects a significant market presence within the Dallas multifamily sector.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 152
- Address: 6864 Larmanda Street
- Market: Dallas
- Representatives: Mark Allen & Chibuzor Nnaji - Global Real Estate Advisors (GREA)
Mark Allen and Chibuzor Nnaji, representing the transaction for Global Real Estate Advisors, facilitated the sale of Park Lane Terrace from an anonymous California-based firm to a private equity real estate firm.
Players
Dallas 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