MULTIFAMILYRADAR
29-Unit Multifamily in Houston, TX, photo 11 / 8
$2,950,000

29-Unit Multifamily in Houston, TX

Harris County, TX · listed Apr 25, 2024 (915 days)

Price per unit compared
This property$102K
Within ~40 mi (228)$100K
Texas median (1,029)$100K
$/unit
$101,724
▲ 2% vs TX · 50th pct
Cap rate
4.7%
▼ 2.6 pts vs TX median
NOI
$138K
$4,765/unit/yr
Units
29
6 bldg · 1981

Financials

Asking price
$2,950,000
Price per unit
$101,724
Price per sq ft
Not stated
Gross rent / year
Not stated
Net operating income
$138,183
NOI per unit
$4,765
Cap rate
4.7%
Gross yield
Not stated
Occupancy
Not stated

As stated by the seller. Verify during due diligence.

Building

Units
29
Unit mix
Not stated
Buildings
6
Year built
1981
Building size
Not stated
Avg unit size
Not stated
Lot size
Not stated
Condition
Not stated

Deal terms

Owner financing
Not stated

Listing

Listed
Apr 25, 2024
Days on market
915 days
On MultifamilyRadar
Oct 28, 2026
Last price change
Not stated
Location
Approximate (~0.5 mi)
Listing #
1783

About this property

Cedar Creek Condos is conveniently located in the heart of the Woodlake/ Westheimer area of Houston on Tanglewide Street, just north of the convergence of Westpark Tollway and South Gessner Road. The Property’s location provides easy access to schools, dining, shopping, and major employment hubs throughout the metro area. The Texas Medical Center – the world’s largest healthcare complex, is 10.1 miles to the southeast, Downtown Houston is 10.6 miles northeast, and University Place, The University of Texas Professional Building, and major attractions such as the Houston Zoo, Museum of Fine Arts, Museum of Natural Science and Hermann Park and Golf Course are all within 12 miles of the Property. The same owner is selling a total of 29 Units in the same complex. This multifamily property, strategically located in the heart of Houston, presents an exceptional investment opportunity for investors seeking high returns and strong cap rates. Positioned in a thriving urban area with easy access to major highways, employment centers, and popular attractions, the property offers consistent demand from tenants looking for a convenient, vibrant living experience. With modern amenities and well-maintained units, this asset delivers significant potential for rental income growth and long-term value appreciation. For investors aiming to maximize returns in a high-demand market, this multifamily property is an ideal addition to any portfolio.

Multifamily | 29 Units | $101,724/unit

Location

Approximate area. The exact address is shared on request.

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