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Joe Hooker Of SSL Phase I, LLC Acquires Sunset Lodge Apartment Homes In Odessa For $29.79M
SOLD
$29,790,000
Texas
See Similar DealsMultiFamily
Sold 08/29/2024
SOLD
Joe Hooker Of SSL Phase I, LLC Acquires Sunset Lodge Apartment Homes In Odessa For $29.79M
7701 Chris Kyle Memorial Highway
See Similar DealsMultiFamily
Sold 08/29/2024
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily asset located at 7701 East Highway 191 in Odessa has been acquired for $29,790,000. The property, known as Sunset Lodge Apartment Homes, features amenities such as a resort-style pool and gated security. The financing for this transaction aligns with the property's total value.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,790,000
- Buyer: Joe Hooker - SSL Phase I, LLC
- Market: Odessa
Joe Hooker, representing SSL Phase I, LLC, participated in this acquisition. The deal involved strategic financing options that align with the overall value of the property, facilitating the transition of ownership.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,588,800.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$105,837.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$141,219.80
Annual Debt Service$1,694,637.58
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