1 / 2High yieldStabilized
$849,900
15-Unit Multifamily in Houston, TX
Harris County, TX · listed Jul 28, 2026 (92 days)
Price per unit compared
This property$57K
Within ~40 mi (275)$99K
Texas median (1,196)$92K
- $/unit
- $56,660
- ▼ 39% vs TX · 19th pct
- Cap rate
- 5.8%
- ▼ 1.6 pts vs TX median
- NOI
- $49K
- $3,281/unit/yr
- Units
- 15
- 1 bldg · 1910
Financials
- Asking price
- $849,900
- Price per unit
- $56,660
- Price per sq ft
- $142
- Gross rent / year
- $128,160avg rent × units
- Net operating income
- $49,220
- NOI per unit
- $3,281
- Cap rate
- 5.8%
- Gross yield
- 15.1%gross rent ÷ price
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 15
- Unit mix
- 15 studio/efficiency units
- Buildings
- 1
- Year built
- 1910
- Building size
- 6,000 sq ft
- Avg unit size
- 400 sq ft
- Lot size
- Not stated
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Jul 28, 2026
- Days on market
- 92 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1179
About this property
(address on request) is a 15-unit efficiency community in Houston's Third Ward offering existing income and immediate operational upside. Twelve units are currently occupied, while three vacant units provide a straightforward lease-up opportunity. The investment strategy centers on completing standard make-ready work, leasing the vacant units, improving occupancy, and growing net operating income. The property is offered by a lender-owned seller.
Houston Infill Multifamily Opportunity
Highlights
- Offered at approximately $56,660 per unit and $141.65 per square foot, an attractive entry basis for infill Houston multifamily.
- Three vacant units (G, H, K) provide immediate upside from make-ready work and leasing.
- Twelve occupied units generate steady in-place income today, averaging $712 per month.
- Minutes from Downtown Houston, the Texas Medical Center, and the University of Houston.
- Single-story efficiency community built in 1910, comprising 15 studio/efficiency units across 6,000 square feet.
- Situated at the corner of Ennis and Simmons Streets with multiple points of site access.
- All-bills-paid operating model - owner currently pays electric, water/sewer, and maintenance/repair — a defining feature of the in-place rent structure.
- The property is being offered by a lender-owned seller and will be conveyed in its current as-is condition. Prospective purchasers should independently verify property information, financial information, and operating assumptions.
- Three vacant units provide an immediate opportunity to increase occupancy and revenue through make-ready work and leasing.
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
 Houston, TXHigh yieldStabilized | $895K | $60K$60K | 8.9% |
 Houston, TX | $350K | $44K$44K | — |
 Houston, TXValue-add | $899K | $150K$150K | — |
 Houston, TXHigh yieldValue-add | $1.09M | $91K$91K | 9.3% |
 Houston, TX▼ 1% cutValue-add | $1.11M | $185K$185K | — |
 Houston, TXValue-add | $498K | $71K$71K | — |