Updated Feb 16, 2024
Josh Welch & Luke Fertitta Sell 460-Unit Multifamily Property For $56M In Houston, TX
700 Dunson Glen Drive, Houston, Texas 77090, United States
$56,000,000
$114/SF
Building Size
488,576 SF
Asset Type
MultiFamily
Closing
Apr 28, 2022
About this deal
AI
Located at 700 Dunson Glen Dr. in Houston, Pasadena, TX, this multifamily property was recently sold in a closed transaction. The property spans a total of 488,576 square feet and consists of 460 units. The sale price for this transaction was recorded at $56,000,000, resulting in a per unit price of $121,739 and a price per square foot of $114.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $56,000,000
- Units: 460
- Price per Unit: $121,739
- Square Footage: 488,576
- Price per Square Foot: $114
- Market: Houston, Pasadena, TX
The sellers of this property were Josh Welch and Luke Fertitta. The transaction was facilitated by Matthew Peters, a representative from The Peters Team at Marcus & Millichap.
Houston 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93