facebook

traded

+ Submit
Home

/

Deals

/

Texas

/

Multifamily

/

Sale

/

7710 S Main St, Houston, TX...

EAS Houston LLC Acquires The Co-Op At Med Center In Houston
SOLDMultiFamily

EAS Houston LLC Acquires The Co-Op At Med Center In Houston

7710 S Main St, Houston, TX, 77025

Building Size

Asset Type

MultiFamily

Closing

Nov 22, 2023

AI

The Co-Op at Med Center is a 200-unit multifamily property located at 7710 S Main St, Houston, TX, 77025, within the Texas Medical Center. The property features studio, one-, and two-bedroom floor plans, with various amenities that include a pool, fitness center, basketball and volleyball courts, study areas, a coffee bar, and a dog park. It was originally built as a hotel and converted to multifamily in 2018.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: Not specified
  • Address: 7710 S Main St, Houston, TX, 77025
  • Market: Houston
  • Seller's Representatives: Ryan Epstein - Walker & Dunlop, Scott Bray - CBRE
  • Buyer: EAS Houston LLC

Walker & Dunlop’s Scott Bray, Ryan Epstein, and Jennifer Ray represented the seller, Urban Genesis, in the transaction. The buyer, EAS Houston LLC, intends to implement a value-add program at the property.

Players

Ryan Epstein

Walker & Dunlop

Broker

$46.7M

vol

20 deals

Broker
EL
EAS Houston LLCBuyer

Houston 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