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8410 W Bartell Dr, Houston,...

ClearWorth Capital LLC Acquires Property In Houston Represented By Connor Phillips And Joey Rippel
SOLDMultiFamily

ClearWorth Capital LLC Acquires Property In Houston Represented By Connor Phillips And Joey Rippel

8410 W Bartell Dr, Houston, TX, 77054

Units

284

Asset Type

MultiFamily

Closing

Nov 19, 2023

AI

The Edge at City Centre is a 284-unit multifamily community located at 8410 W Bartell Dr, Houston, TX, 77054. Built in 1983, the property features a mix of one- and two-bedroom units, averaging 765 square feet. Amenities include two pools, a business center, a fitness center, and a Wi-Fi lounge. The property was 94 percent occupied at the time of sale and is situated in the Houston market.

Summary of transaction details:

Chris Young represented the seller, 29th Street Capital, while Connor Phillips and Joey Rippel served as representatives for the buyer, ClearWorth Capital LLC, facilitating the transaction.

Players

Joey Rippel

Berkadia

Broker

35 deals

Broker
CL
ClearWorth Capital LLCBuyer

Houston 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