Updated Dec 4, 2024
Colliers International Closes Sale Of 152-Unit Multifamily Community In Tomball, Texas
915 Baker Drive
Units
152
Asset Type
MultiFamily
Closing
Feb 8, 2024
About this deal
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.
On the Map
MultiFamily
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Players
Tomball MultiFamily Market Snapshot
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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