Updated May 15, 2025
David Cutbirth Sells 130-Unit Multifamily Asset In Monahans TX Represented By Ryan Franckhauser
1113 South Betty Avenue & 1500 South Calvin Avenue
Building Size
71,698 SF
Asset Type
MultiFamily
Closing
May 4, 2025
About this deal
AI
A multifamily property consisting of 130 units with a total square footage of 71,698 is located at 1113 South Betty Avenue & 1500 South Calvin Avenue in Monahans, TX. The property is known as The Pecan Place and Villa Apartments.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 1113 South Betty Avenue & 1500 South Calvin Avenue
- Market: Monahans
- Units: 130
- Square Footage: 71,698
- Seller: David Cutbirth
- Broker: Ryan Franckhauser - Keller Williams Realty
Keller Williams Commercial facilitated the transaction, with Ryan Franckhauser acting as the representative for the seller, David Cutbirth. The buyer in this transaction was unrepresented.
Players
Monahans 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