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915 Baker Drive

Colliers International Closes Sale Of 152-Unit Multifamily Community In Tomball, Texas
SOLDMultiFamily

Colliers International Closes Sale Of 152-Unit Multifamily Community In Tomball, Texas

915 Baker Drive

Building Size

Asset Type

MultiFamily

Closing

Feb 8, 2024

AI

Oak Bend Place, a 152-unit multifamily community located at 915 Baker Drive in Tomball, Texas, was recently sold. The property, situated near major economic drivers and educational institutions, generated significant buyer interest and closed just 82 days after hitting the market, demonstrating the strong demand and competitive market environment in the area.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Units: 152
  • Address: 915 Baker Drive, Tomball, Texas
  • Market: Tomball

The sale of Oak Bend Place was facilitated by Bob Heard, Chip Nash, Jaleel Adatia, and Kitty Wallace, representing Colliers International. Their expertise and representation played a crucial role in successfully closing the deal.

Players

Chip Nash

Colliers

Broker

21 deals

Broker

Tomball 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