Stabilized
$1,100,000
21-Unit Multifamily in Houston, TX
TX · listed Jul 28, 2026 (92 days)
Price per unit compared
This property$52K
Within ~40 mi (266)$100K
Texas median (1,029)$100K
- $/unit
- $52,381
- ▼ 48% vs TX · 6th pct
- Cap rate
- 7%
- ▼ 0.3 pts vs TX median
- NOI
- $77K
- $3,652/unit/yr
- Units
- 21
- 2 bldg · 1984
Financials
- Asking price
- $1,100,000
- Price per unit
- $52,381
- Price per sq ft
- $85
- Gross rent / year
- Not stated
- Net operating income
- $76,702
- NOI per unit
- $3,652
- Cap rate
- 7%
- Gross yield
- Not stated
- Occupancy
- 90%
As stated by the seller. Verify during due diligence.
Building
- Units
- 21
- Unit mix
- Not stated
- Buildings
- 2
- Year built
- 1984
- Building size
- 12,881 sq ft
- Avg unit size
- 613 sq ft
- Lot size
- 0.24 acres
- 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 #
- 1926
About this property
Panama Estates is a well-maintained, 21-unit multifamily community located at (address on request)reet in Cloverleaf. Built in 1984 and currently more than 90% occupied, the property offers stable in-place operations with convenient access to Interstate 10 and major East Houston employment centers. With additional room to improve rents and an attractive acquisition basis of approximately $52,000 per unit, the offering provides investors with a compelling combination of immediate cash flow, desirable vintage, and attainable upside.
Multifamily | 21 Units | $52,381/unit
Highlights
- Stable, Proven Occupancy - Historically maintained at 90% occupancy and above, demonstrating consistent tenant demand and reliable cash flow.
- Excellent East Houston Location - Convenient access to Interstate 10 provides quick connectivity to Downtown Houston, major employment centers, retail, and transportation corridors.
- Low Basis Investment Opportunity - A well-maintained 1984 construction with an attractive entry point, offering investors durable cash flow and long-term appreciation potential.
Location
Approximate area. The exact address is shared on request.
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