SPRINGBOOK LOFTS • HOUSTON, TEXAS
The Numbers
| Purchase Price: | $8,550,000 |
| Capital Improvements: | $774,000 |
| NOI: | $814,000 |
| Cap Rate: | 9.53% |
| Stabilized Value: | $14,200,000 |
| Equity: | $4,700,000 |
| Refinance Proceeds: | $500,000 |
| Cash Flow: | $517,000 |
104-unit Apartment Complex, Located in Houston Texas, acquired in May, 2021
