12-Unit Multifamily in Houston, TX

(address on request)reet is a fully leased 12-unit multifamily property in Houston's Greater Third Ward, offered at $1,092,000 — $91,000 per unit and $121 per square foot. Every unit is a spacious 2-bedroom, 1-bathroom, a single efficient floor plan across the entire building that keeps renovation, leasing, and management straightforward.

Ownership completed a unit-by-unit repositioning through 2025 and 2026. Eight units have been renovated with new cabinetry, quartz countertops, stainless appliances, fully tiled baths, luxury vinyl plank flooring, and new lighting and hardware. Beyond the units, the seller invested over $20,000 replacing the sewer line and the plumbing beneath the slab.

The property delivers 100% occupancy with $13,819 in monthly scheduled rent and in-place NOI of approximately $101,113, a 9.26% return on the asking price. Four classic units remain on legacy rents between $970 and $1,100 against a proven renovated market rent of $1,250. Renovating those four at a budgeted $18,000 each, plus rolling the existing water and laundry fee schedule across the full rent roll, supports stabilized NOI of $113,538, a 10.40% cap.

The site offers 12 on-site parking spaces, security cameras, and a tenant laundry room. The University of Houston and Texas Southern University are within a mile, the Texas Medical Center is an eight-minute drive, and downtown is seven minutes.

12-Unit Multifamily | 100% Leased | 9.26% Cap | Minutes from UH & TSU