22-Unit Multifamily in Houston, TX

🏢 22-Unit Multifamily | Houston, TX 77087 | $2,000,000

My private off-market listing. Link to request the address at the bottom of the post.

Renovated 22-plex (16 two-bed/one-bath, 6 one-bed/one-bath), priced at about $91K per unit.

💰 10 of 22 units leased, collecting $10,450/month today ($125,400/yr annualized) 📈 12 units open for lease-up. The seller’s stabilized pro forma assumes $1,050 (2BR) and $900 (1BR) rents, which gives $266,400/yr in gross rent. 📊 Seller-projected stabilized NOI: $146,520/yr at an assumed 45% expense ratio. That is a 7.33% cap rate at asking. These are projections, not current results. 🧾 Actual annual property taxes: $28,467 | Insurance: $4,648 🔧 Major renovation completed: new flooring, kitchens and bathrooms, many new heating/cooling units, plumbing work, and updated windows. Approximately $267K of capital improvements in the last 12 months.

📍 Houston, with 58% renter households

🤝 Also available as a 38-unit portfolio with the neighboring renovated 16-unit property for $3,550,000

Trailing 12-month operating statement, rent roll and pro forma available to qualified buyers.

👇 Full details:

Poster's replies in the comments: Quenton Lewis the link in the post, just fill out the form and accept the terms and you'll automatically get the addresss and the rest info. thank you!