13-Unit Multifamily in Houston, TX
TX · listed Sep 9, 2026 (49 days)
- $/unit
- $63,462
- ▼ 31% vs TX · 24th pct
- Cap rate
- 5.7%
- ▼ 1.7 pts vs TX median
- NOI
- $47K
- $3,624/unit/yr
- Units
- 13
Financials
- Asking price
- $825,000
- Price per unit
- $63,462
- Price per sq ft
- Not stated
- Gross rent / year
- $138,300
- Net operating income
- $47,113
- NOI per unit
- $3,624
- Cap rate
- 5.7%
- Gross yield
- 16.8%gross rent ÷ price
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 13
- Unit mix
- Not stated
- Buildings
- Not stated
- Year built
- Not stated
- Building size
- Not stated
- Avg unit size
- Not stated
- Lot size
- Not stated
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Sep 9, 2026
- Days on market
- 49 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- City only
- Listing #
- 1040
About this property
13-UNIT CONDO INVESTMENT PORTFOLIO FOR SALE
Houston, Texas 77015 Offered at $825,000
Excellent opportunity to acquire an income-producing portfolio of 13 individually deeded condominium units offered together as one complete sale package. At approximately $63,460 per unit, this property may appeal to investors seeking current rental income, value-add potential, and long-term portfolio growth.
The portfolio contains approximately 9,703 square feet. According to the provided rent roll, 10 units are occupied and three units are currently vacant. Numerous units have undergone renovations and improvements.
FINANCIAL SUMMARY
- Current monthly rent from occupied units: $8,835
- Projected monthly rent from three vacant units: $2,690
- Total potential monthly rental income: $11,525
- Total potential annual rental income: $138,300
ANNUAL OPERATING EXPENSES
- HOA expenses: $51,557.12
- Property taxes: $19,718.40
- Insurance: $4,467.19
- Property management: $15,444
- Total operating expenses: $91,186.71
PROJECTED RETURNS
- Net operating income with professional management: $47,113.29
- Cap rate with professional management: approximately 5.71%
- Net operating income without management expenses: $62,557.29
- Potential cap rate with self-management: approximately 7.6%
The three vacant units offer an opportunity to complete any necessary updates, secure new tenants, and move the portfolio toward its full income potential. Individually deeded units may also provide additional flexibility for long-term ownership and future investment planning.
The property’s street address and complex name have intentionally been withheld from this public advertisement. Financial figures are based on the provided rent roll and include projected rental income for the three vacant units. Buyers should independently verify occupancy, rental income, expenses, property condition, and all financial information during their due-diligence period.
For the complete rent roll, photographs, property details, or additional information, please contact:
Wael Alwazir, REALTOR®
Location
Somewhere in Houston. The exact address is shared on request.
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