14-Unit Multifamily in Pasadena, TX
Harris County, TX · listed May 21, 2026 (160 days)
- $/unit
- $92,857
- ▲ 1% vs TX · 50th pct
- Cap rate
- 7.9%
- ▲ 0.5 pts vs TX median
- NOI
- $104K
- $7,407/unit/yr
- Units
- 14
- 3 bldg · 1979
Financials
- Asking price
- $1,300,000
- Price per unit
- $92,857
- Price per sq ft
- $96
- Gross rent / year
- Not stated
- Net operating income
- $103,704
- NOI per unit
- $7,407
- Cap rate
- 7.9%
- Gross yield
- Not stated
- Occupancy
- 100%
As stated by the seller. Verify during due diligence.
Building
- Units
- 14
- Unit mix
- twelve spacious two-bedroom units averaging approximately 970 square feet, along with two one-bedroom units
- Buildings
- 3
- Year built
- 1979
- Building size
- 13,580 sq ft
- Avg unit size
- 970 sq ft
- Lot size
- 1 acres
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- May 21, 2026
- Days on market
- 160 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1326
About this property
Marcus & Millichap is proud to present (address on request), a rare opportunity to acquire 14 condominium units within a well-maintained, gated 21-unit residential community in Pasadena, Texas. The offering consists of twelve spacious two-bedroom units averaging approximately 970 square feet, along with two one-bedroom units, all featuring in-unit washers and dryers — a highly sought-after amenity rarely found in comparable workforce housing product within the submarket. Currently 100% occupied with a long history of stabilized occupancy and tenant waitlists, the asset offers investors immediate cash flow within a supply-constrained segment of the market. Built in 1979, the property is being offered at a basis significantly below estimated replacement cost, positioning the asset favorably against today's elevated construction environment.
Multifamily | 7.90% CAP | 14 Units
Highlights
- Rare Scattered-Condo Portfolio Opportunity - Acquire 14 of the 21 units within a gated condominium community, creating meaningful scale and operational control within a historically high-occupancy asset.
- Stable "Net Lease Feel" Expense Structure - Standardized HOA dues cover water, landscaping, exterior insurance, trash, and common area maintenance, creating predictable operating expenses and simplified ownership.
- Below Replacement Cost Basis with Strong Tenant Demand - Built in 1979 and offered significantly below today's replacement cost, the property is 100% occupied with a history of tenant waitlists and durable occupancy performance.
Location
Approximate area. The exact address is shared on request.
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