Sam Morris Sells Multifamily Property In Humble For $11.05M With Meridian Capital Group's Representation
SOLD
$11,050,000
Texas
See Similar DealsMultiFamily1,143 SF
Sold 04/12/2021
SOLD
Sam Morris Sells Multifamily Property In Humble For $11.05M With Meridian Capital Group's Representation
6910 Old North Belt Drive, Humble, TX, USA
See Similar DealsMultiFamily1,143 SF
Sold 04/12/2021
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$9,667
Total Square Footage:1,143 SF
Transaction Type:Sale
A multifamily property located at 6910 Old North Belt Drive in Humble has been sold. The sale was facilitated by brokers Hannah Howard and Jonathan Zilber from the Meridian Capital Group. The property was sold by Sam Morris of Rockstar Capital for a total price of $11,050,000. The transaction took place on April 12, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,050,000
- Address: 6910 Old North Belt Drive
- Market: Humble
Hannah Howard and Jonathan Zilber, representing the Meridian Capital Group, played an integral role in both the sale and financing of the property. They successfully facilitated the transaction between the buyer and seller, ensuring a smooth process from start to finish.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$589,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,258.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,382.64
Annual Debt Service$628,591.65
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