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800 Custer Rd, Richardson, ...

Updated Oct 29, 2024

ClearWorth Capital LLC Acquires Property At 800 Custer Rd Richardson From Seller Represented By Jaxx Davis
SOLDMultiFamily

ClearWorth Capital LLC Acquires Property At 800 Custer Rd Richardson From Seller Represented By Jaxx Davis

800 Custer Rd, Richardson, TX, 75080

Units

202

Asset Type

MultiFamily

Closing

Nov 20, 2023

About this deal

AI

ClearWorth Capital LLC has acquired Belle Grove at Custer, a multifamily property located at 800 Custer Rd, Richardson, TX, 75080, within the Richardson market. The property comprises 202 units featuring one-, two- and three-bedroom layouts, alongside various amenities including a fitness center, business center, playground, tennis court, walking/biking trails, and onsite laundry facilities. At the time of sale, Belle Grove at Custer was 94 percent occupied.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Undisclosed
  • Address: 800 Custer Rd, Richardson, TX, 75080
  • Seller's Representative: Jaxx Davis - CBRE
  • Buyer: ClearWorth Capital LLC
  • Market: Richardson
  • Occupancy Rate at Sale: 94 percent

The acquisition involved key individuals from CBRE, including Chris Deuillet, William Hubbard, and Jaxx Davis, who facilitated the transaction representing the seller. ClearWorth Capital's plans for the property include implementing a value-add program to enhance its appeal and performance in the market.

On the Map

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Players

Jaxx Davies

CBRE

Broker

$42M

vol

12 deals

Broker
CL
ClearWorth Capital LLCBuyer
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Richardson 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

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