38-Unit Multifamily in Houston, TX
TX · listed Aug 5, 2026 (83 days)
- $/unit
- $92,105
- ▼ 0% vs TX · 50th pct
- Cap rate
- —
- Gross yield
- —
- Units
- 38
Financials
- Asking price
- $3,500,000
- Price per unit
- $92,105
- Price per sq ft
- Not stated
- Gross rent / year
- Not stated
- Net operating income
- Not stated
- NOI per unit
- Not stated
- Cap rate
- Not stated
- Gross yield
- Not stated
- Occupancy
- 76%
As stated by the seller. Verify during due diligence.
Building
- Units
- 38
- Unit mix
- Not stated
- 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
- Available
Listing
- Listed
- Aug 5, 2026
- Days on market
- 83 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- City only
- Listing #
- 1961
About this property
Off Market Houston
The property is a 38-unit apartment building with 18 storage units and an on-site laundry facility. The asset is currently 76% occupied and trending upward as vacant units continue to be filled. Recent leasing activity has been strong, with new leases being signed in the $1,100–$1,200/month range.
A few highlights
- 38 apartment units
- 18 storage units
- On-site laundry facility
- 76% current occupancy with clear lease-up upside
- New leases being signed in the $1,100–$1,200/month range
- $50,398.24 NOI over the last 5 months
- Estimated remaining unit-turn/renovation budget: approximately $60,000–$70,000
- **Asking price: $3,500,000 + 3%**
- Existing assumable loan balance of approximately $1,650,000
- Assumable debt carries a 3.5% interest rate with roughly 5 years remaining to maturity
- Seller is willing to carry $1,500,000 for 5 years
In addition to continuing the lease-up at current market rents, the next buyer has additional income upside through activating the storage units, laundry facility, and potentially adding carports, none of which have been fully leveraged by the current ownership.
Given the combination of assumable low-interest debt, seller financing, defined lease-up budget, and operational upside, this is an attractive opportunity for the right buyer. This opportunity is best suited for a buyer who is comfortable underwriting the near-term lease-up and operational upside.
Email me at or contact me on WhatsApp at if you have a buyer. Do not leave me a message on FB Messenger.
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 | $2.86M | $65K$65K | 7.3% |
| Houston, TX Stabilized | $1.75M | $88K$88K | 7% |
| Houston, TX | $675K | $96K$96K | — |
| Houston, TX High yieldValue-add | $825K | $63K$63K | 5.7% |
| Houston, TX Owner financing | $3.5M | $88K$88K | — |
| Houston, TX Stabilized | $1.75M | $83K$83K | — |