Newport Real Estate Partners Acquires Multifamily Property In Southbelt, Houston For $27.13M
SOLD
$27,130,000
Texas
See Similar DealsMultiFamily2,034 SF
Sold 01/20/20
SOLD
Newport Real Estate Partners Acquires Multifamily Property In Southbelt, Houston For $27.13M
11810 Algonquin Dr, Houston, TX 77089, USA
See Similar DealsMultiFamily2,034 SF
Sold 01/20/20
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$13,338
Total Square Footage:2,034 SF
Transaction Type:Sale
11810 Algonquin Dr., located in the Southbelt / Ellington market of Houston, was recently sold in a multifamily property transaction. The sale took place on January 21, 2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $27,130,000
The seller of 11810 Algonquin Dr. was Nitya Capital, while the buyer was Newport Real Estate Partners, LLC.
Thank you to Matt Wilson, Jack Franco, and Swapnil Agarwal for sharing the image of this property.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,446,933.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$96,387.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$128,610.04
Annual Debt Service$1,543,320.49
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