Updated Dec 21, 2023
Justin Chambers' Northmarq Brokers Sale Of 659-Unit Multifamily Property In Houston
8701 Town Park Drive, Houston, Texas 77036, United States
Units
659
Asset Type
MultiFamily
Closing
May 24, 2022
About this deal
AI
An apartment complex located at 8701 Town Park Dr in Houston has been sold in a recent transaction. This multifamily property consists of 659 units, offering a spacious living environment for residents.
Summary of transaction details
- Property Type: Multifamily
- Sale Date: 05/25/2022
- Address: 8701 Town Park Dr
- Market: Houston
- Units: 659
A leading broker, Justin Chambers from Northmarq, represented the parties involved in this deal. Chambers' expertise and knowledge in the real estate industry have played a significant role in the successful completion of this transaction.
Players
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