MULTIFAMILYRADAR
8-Unit Multifamily in Houston, TX, photo 11 / 2
Value-add
$750,000

8-Unit Multifamily in Houston, TX

Harris County, TX · listed Jul 19, 2024 (831 days)

Price per unit compared
This property$94K
Within ~40 mi (293)$96K
Texas median (1,196)$92K
$/unit
$93,750
▲ 2% vs TX · 51st pct
Cap rate
—
 
Gross yield
—
 
Units
8
2 bldg · 1964

Financials

Asking price
$750,000
Price per unit
$93,750
Price per sq ft
$155
Gross rent / year
Not stated
Net operating income
Not stated
NOI per unit
Not stated
Cap rate
Not stated
Gross yield
Not stated
Occupancy
Not stated

As stated by the seller. Verify during due diligence.

Building

Units
8
Unit mix
four two-bedroom units and four one-bedroom units
Buildings
2
Year built
1964
Building size
4,832 sq ft
Avg unit size
604 sq ft
Lot size
Not stated
Condition
Value-add

Deal terms

Owner financing
Not stated

Listing

Listed
Jul 19, 2024
Days on market
831 days
On MultifamilyRadar
Oct 28, 2026
Last price change
Not stated
Location
Approximate (~0.5 mi)
Listing #
1443

About this property

Eight-unit multifamily investment opportunity consisting of four two-bedroom units and four one-bedroom units. The property received a comprehensive interior renovation in 2023, including new cabinets, flooring, paint, doors, tubs, toilets, and tile throughout the units, providing a solid foundation for continued operation and future improvements. Major capital items have been addressed, with roofs replaced in 2020 and HVAC systems updated in 2019. The property is currently 7 of 8 units occupied, with several long-term tenants in place, supporting consistent in-place income while allowing an investor the ability to implement rent growth and operational improvements over time. This asset presents an attractive opportunity for an investor seeking existing cash flow with value-add potential, supported by recent renovations and updated major systems, while still offering room to further enhance performance.

Multifamily | 8 Units

Location

Approximate area. The exact address is shared on request.

Similar buildings nearby

PropertyPrice$/unitCap
18-Unit Multifamily in Houston, TXHouston, TX
High yieldValue-add
$300K$17K75.6%gy
7-Unit Multifamily in Houston, TXHouston, TX$475K$68K—
10-Unit Multifamily in Houston, TXHouston, TX
High yieldStabilized
$1M$100K12.3%gy
10-Unit Multifamily in Houston, TXHouston, TX
NewStabilized
$1.2M$120K—
11-Unit Multifamily in Houston, TXHouston, TX
High yieldValue-add
$850K$77K14.9%gy
14-Unit Multifamily in Houston, TXHouston, TX
Stabilized
$996K$71K—