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20 Unit Apartment Complex for sale in Houston Texas at nearly 10% Cap Rate asking price 1.2M. 100% Occupied and long term leases in place.
Superb updated apartment complex
Financials available upon requests
This 20 Unit Apartment complex generates $261,000 Annually with expenses only at $84,000 annually that gives you a $185,000 Take Home a (10% Cap Rate). These Units are in SUPERB condition and just had the flooring, granite, bathroom, and kitchen done. The tenants are mostly hard working hispanic families, since this area is 90% latin. Crime is very low, and very convenient to get to, only 15 minutes from downtown Houston. If you need address sign the buyers rep agreement for this property below.
Call 832-305-7653 for more info
Investors spent less money on apartments in 2017 than the previous year, according to CoStar research, but bought more multifamily properties.
The math may be a little counter-intuitive, but resulted from sales in the most expensive urban infill markets dropping off as owners of newer downtown properties decided to hang on to their assets or demanded rich pricing. Yield-hungry investors, in turn, looked to suburban and secondary markets – where multifamily properties are cheaper, and older assets and workforce housing are in vogue as well.
That combination resulted in a mixed outcome in 2017 – more property trades, but less total investment in the multifamily market.
“No doubt this is the case,” says Josh Goldfarb, co-head of Cushman & Wakefield’s multifamily sales platform. “We are seeing more interest in the suburbs and secondary markets caused by overheated costs and land pricing in large metropolitan areas, combined with minor oversupply.”
Article Aurthor: CoStar Group
Multi family makes over $75,000 in NET OPERATING INCOME annually in West Houston. This 8 plex has been renovate, repaired, and released. This high cap rate investment is a rare opportunity as Cap rates are at an all time low and prices at an all time high. This property is located in West Houston. Easy access to Westpark Toll Rd, I-10, Belt way 8.
NEED ADDRESS: SIGN commission protection agreement / you can also e-sign it online now.
| Beds | Units | Avg SF | Asking Rent/Unit | Asking Rent/SF | Concessions |
|---|---|---|---|---|---|
|
2
|
8
|
–
|
–
|
–
|
–
|
|
Totals
|
8
|
–
|
–
|
–
|
–
|
This nine plex consist of three buildings 5 one bedroom, 4 two story two bedroom units. New exterior windows an fresh interior & exterior paint. New flooring, ceiling fans, window AC units and is 100% occupied. Landlord pays water and trash pickup.
NEED ADDRESS: SIGN commission protection agreement
NEED ADDRESS: SIGN commission protection agreement – OR if you have done business with us before simply reply back to us. (keep in mind your agreements expire every 2 weeks)
| Beds | Units | Avg SF | Asking Rent/Unit | Asking Rent/SF | Concession |
|---|---|---|---|---|---|
|
2
|
18
|
1,000
|
$658
|
$0.66
|
0.7%
|
|
3
|
19
|
1,200
|
$754
|
$0.63
|
0.7%
|
|
Totals
|
37
|
1,103
|
$707
|
$0.64
|
0.7%
|
| 1 Mi | 3 Mi | |
|---|---|---|
|
Population
|
3,561
|
5,639
|
|
Households
|
1,214
|
1,790
|
|
Average Age
|
37.10
|
38.20
|
|
Median HH Income
|
$36,857
|
$40,259
|
|
Daytime Employees
|
90
|
298
|
|
Population Growth ’17-’22
|
2.1%+
|
2.0%+
|
|
Household Growth ’17-’22
|
2.0%+
|
1.8%+
|
Excellent 6 unit apartment complex, generating $39,500 Net Operating Income now WITH 2 FRONT UNITS vacant. Once we get the 2 units filled in we will have 15% Cap Rate over $57K annual NOI. Located close to Gulf Gate mall (45S and 610s).
NEED ADDRESS: SIGN commission protection agreement
Asking Price: $389K
Lot Size: 9900 sqft
Demographics:
85% Hispanic
10% Caucasian
5% Other
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