22-Unit Multifamily in Houston, TX
TX · listed Nov 1, 2026 (today)
- $/unit
- $90,909
- ▼ 9% vs TX · 43rd pct
- Cap rate
- 7.3%
- ▲ 0.0 pts vs TX median
- NOI
- $147K
- $6,660/unit/yr
- Units
- 22
Financials
- Asking price
- $2,000,000
- Price per unit
- $90,909
- Price per sq ft
- Not stated
- Gross rent / year
- $125,400
- Net operating income
- $146,520
- NOI per unit
- $6,660
- Cap rate
- 7.3%
- Gross yield
- 6.3%gross rent ÷ price
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 22
- Unit mix
- 16 two-bed/one-bath, 6 one-bed/one-bath
- Buildings
- Not stated
- Year built
- Not stated
- Building size
- Not stated
- Avg unit size
- Not stated
- Lot size
- Not stated
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Nov 1, 2026
- Days on market
- Today
- On MultifamilyRadar
- Nov 1, 2026
- Last price change
- Not stated
- Location
- City only
- Listing #
- 2292
About this property
🏢 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:
Location
Somewhere in Houston. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
| Houston, TX NewValue-add | $2M | $91K$91K | 7.3% |
 Houston, TXRenovated 22-Unit Houston Multifamily with Lease-Up UpsideFeaturedHigh yieldValue-add | $2M | $91K$91K | 7.3% |
| Houston, TX Stabilized | $700K | $100K$100K | — |
| Houston, TX NewOwner financing | $750K | $94K$94K | — |
| Houston, TX Owner financingHigh yieldStabilized | $1.4M | $82K$82K | 9.3% |
| Houston, TX Value-add | $4.2M | $300K$300K | 9%gy |