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