Francesco Orsi Purchases Multifamily Asset From Dan David For $7.68 Million In Houston
SOLD
$7,680,000
Texas
See Similar DealsMultiFamily108,096 SF
Sold 01/31/2025
SOLD
Francesco Orsi Purchases Multifamily Asset From Dan David For $7.68 Million In Houston
704 East Waring Street
See Similar DealsMultiFamily108,096 SF
Sold 01/31/2025
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$71
Total Square Footage:108,096 SF
Transaction Type:Sale
The property asset involved in the transaction is a MultiFamily building located at 704 East Waring Street in Houston. The property has a total of 128 units and encompasses a square footage of 108,096.00. The transaction was completed for a price of $7,680,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $7,680,000.00
- Address: 704 East Waring Street
- Market: Houston
- Units: 128
- Square Footage: 108,096.0
- Buyer: Francesco Orsi
- Seller: Dan David
- Sale Date: 01/31/2025
The key individuals involved in this deal include the buyer, Francesco Orsi, who has acquired the property from seller Dan David. This transaction reflects the interests of both parties in the Houston market and has been finalized on January 31, 2025.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$409,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,285.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,407.12
Annual Debt Service$436,885.42
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