Buyer Of Multifamily Group Represents Buyer In Sale Of Property On W Sam Houston Pkwy In Houston
9255 W Sam Houston Pkwy S, Housto...
Building Size
—
Asset Type
MultiFamily
Closing
Nov 19, 2023
AI
The property involved in this transaction is Glenwood Apartment Homes, a multifamily asset located at 9255 W Sam Houston Pkwy S, Houston. Built in 1981, it comprises 60 units featuring one- and two-bedroom layouts with an average size of 971 square feet. The apartments are equipped with granite countertops, walk-in closets, and washer/dryer connections. Communal amenities available to residents include a pool and onsite laundry facilities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Address: 9255 W Sam Houston Pkwy S, Houston
- Market: Houston
- Buyer: Undisclosed
- Seller: Undisclosed
- Buyer's Representative: Bryceson (Bryce) Smith - The Multifamily Group
- Seller's Representative: Bryceson (Bryce) Smith - The Multifamily Group
- Year Built: 1981
In this transaction, Bryce Smith of The Multifamily Group represented both the undisclosed buyer and seller, who opted for confidentiality throughout the deal. The brokerage firm TMG, based in Dallas, facilitated the intricacies of this sale, ensuring a seamless process for both parties involved.
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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