1 / 217-Unit Multifamily in Pasadena, TX
TX · listed Jun 24, 2025 (491 days)
- $/unit
- $70,588
- ▼ 23% vs TX · 32nd pct
- Cap rate
- 7.6%
- ▲ 0.2 pts vs TX median
- NOI
- $103K
- $6,034/unit/yr
- Units
- 17
- 1963
Financials
- Asking price
- $1,200,000
- Price per unit
- $70,588
- Price per sq ft
- $127
- Gross rent / year
- Not stated
- Net operating income
- $102,581
- NOI per unit
- $6,034
- Cap rate
- 7.6%
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 17
- Unit mix
- Not stated
- Buildings
- Not stated
- Year built
- 1963
- Building size
- 9,470 sq ft
- Avg unit size
- 557 sq ft
- Lot size
- 0.56 acres
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Jun 24, 2025
- Days on market
- 491 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1362
About this property
Call Seller Luis for more information -
17-Unit Apartment Complex For Sale
17-Unit Value-Add Multifamily Investment – 7.6% In-Place Cap | Proven Renovation Strategy | Houston MSA
Sycamore Flats is a 17-unit, single-story multifamily asset located in Pasadena, TX, within close proximity to the Houston Ship Channel and major industrial employment corridors.
The property has undergone significant renovations, with 16 of 17 units upgraded, providing investors with immediate in-place cash flow and minimal remaining execution risk.
The asset is currently operating at a 7.6% cap rate ($102,581 NOI) with clear pathways to increase income through continued lease-up at market rents and implementation of utility bill-back (RUBS), representing an estimated 17%+ NOI upside.
This offering presents a stabilized, income-producing asset with built-in upside, positioned in one of the strongest blue-collar employment corridors in the Houston MSA.
For more info contact seller Luis - or visit TexasFSBO.com
(address on request), Pasadena, TX 77503
Highlights
- Strong in-place cash flow with day-one yield
- Proven renovation program already executed (16/17 units complete)
- Below-market rents with mark-to-market potential (~22% upside)
- Additional NOI growth through utility reimbursement (~$10K+)
- Located near major employers including Chevron Phillips, BASF, and Shell
- High-demand workforce housing submarket with stable tenant base
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
 Pasadena, TXStabilized | $1.3M | $93K$93K | 7.9% |
| Pasadena, TX Value-add | $340K | $57K$57K | — |
| Pasadena, TX | $340K | $57K$57K | — |
 Pasadena, TX | $2.67M | $206K$206K | — |
| South Houston, TX High yieldStabilized | $1.2M | $63K$63K | 10% |
| South Houston, TX NewHigh yieldStabilized | $1.05M | $55K$55K | 10% |