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98 Isaacks Road

Colliers International Facilitates Sale Of Deer Springs Apartments In Humble, Texas
SOLDMultiFamily

Colliers International Facilitates Sale Of Deer Springs Apartments In Humble, Texas

98 Isaacks Road

Building Size

Asset Type

MultiFamily

Closing

Feb 26, 2024

AI

Deer Springs Apartments, a 128-unit multifamily community located at 98 Isaacks Road in Humble, Texas, was sold by Alphil Investments. The sale was facilitated by Colliers International, with Bob Heard, Chip Nash, Jaleel Adatia, and Kitty Wallace representing the seller. The property garnered strong interest early in the marketing process, leading to a swift sale to an out-of-state buyer who provided all-cash, competitive terms, and a quick closing timeline.

Summary of transaction details:

The successful sale of Deer Springs Apartments was orchestrated by a team of experienced brokers from Colliers International. Chip Nash, Bob Heard, Kitty Wallace, and Jaleel Adatia played crucial roles in representing Alphil Investments throughout the deal, ensuring a seamless transaction for the out-of-state buyer. The quick sale process with favorable terms exemplifies the efficiency and expertise of the brokerage team.

Players

Chip Nash

Colliers

Broker

21 deals

Broker

Humble 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