For Sale

$750,000

HIGHLIGHTS:
  • Active
  • $8,329/month
  • 31 DOM
  • 2 Stories
  • 0 Beds
  • 4,368 SqFT
Description

7.7% IN-PLACE CAP RATE, $93,750/DOOR, 8-UNIT COMPLEX INSIDE THE 610 LOOP. Exceptional cash-flowing multi-family asset in Central Park / Magnolia Park (East End Revitalized). Composed of two separate two-story fourplex buildings totaling 4,368 SqFt. 100% occupied, generating $6,350/mo ($76,200/yr gross) with an actual in-place NOI of $57,741. Consists of eight identical 1-Bed/1-Bath units averaging ~$794/mo. Major capital expenditures already completed: recent replacement roof, replaced water main supply lines, and upgraded attic insulation. Separately metered electricity (tenant-paid). Water/sewer is owner paid, creating prime upside to implement RUBS or a flat utility fee to boost NOI. Minutes to Downtown Houston, EaDo, UH, and Port of Houston employment hubs. Do not disturb tenants; drive-by only until contract.

Overview
  • MLS Number: 28729462
  • Type: Multi-Family
  • Bedrooms: N/A
  • Bathrooms: N/A
  • Garages: N/A
  • Size: 4,368 SqF
  • Land Size: 5,000 sqft
  • Year Built: 1946
Financial
Price:
$750,000
Price/SqFT:
$171.70
HOA Fee:
Tax Rate:
0 %
Est. Monthly:
$8,329 *
Tax Amount:
$0
Amenities and features
Property & Schools on Map
Floor plans / Dimensions / Descriptions
  • Heating:
    Window Unit
    Cooling:
    Window Units
  • Roof:
    Composition

Listed By:
Amanda Badawy

Coldwell Banker Ultimate

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