Updated Dec 4, 2024
Encore On The Rise, LLC Acquires Multifamily Property In Conroe, Texas For $47.1M
800 Farm-to-Market Road 3083
$47,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 15, 2023
About this deal
AI
Encore on the Rise, LLC purchased the contemporary residential community Encore Rise in Conroe, Texas, for $47.1 million. The property, located at 800 North FM 3083 Road West in Conroe, features modern amenities, including state-of-the-art kitchens, a fitness center, and a pool. This multifamily asset is situated in the fast-growing suburban area of Conroe, north of Houston.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $47,100,000
- Address: 800 North FM 3083 Road West, Conroe, Texas
- Market: Conroe
Joe Hooker from Encore on the Rise, LLC represented the buyer in this transaction.
Players
Conroe MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93