Updated Dec 21, 2023
The Frankforter Group Acquires Multifamily Property In Houston
8877 Lakes at 610 Drive, Houston, Texas 77054, United States
Units
319
Asset Type
MultiFamily
Closing
Jul 7, 2022
About this deal
AI
The Lakes at 610 Drive, a multifamily property located at 8877 Lakes at 610 Drive in Houston, was recently sold in a closed transaction. The property consists of 319 units, making it an attractive investment opportunity.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not provided
- Address: 8877 Lakes at 610 Drive, Houston
- Market: Houston
- Units: 319
The buyer of the Lakes at 610 Drive property is The Frankforter Group, represented by Yaakov Frankforter. The Frankforter Group saw the potential in this multifamily asset and seized the opportunity to acquire it.
Players
Houston 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93