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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