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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.

For Sale

Price $750,000
Price/Unit $93,750
Cap Rate 10.00%
NOI $75,000
Sale Type Investment
Status Active
On Market 2 Mos 2 Days
Last Updated Nov 21, 2017
Update
Beds Units Avg SF Asking Rent/Unit Asking Rent/SF Concessions
2
8
Totals
8
Updated November 18, 2017

Building

Type3 Star Low-Rise Apartments
Units8
Stories2
ClassC
GBA8,088 SF
Typical Floor4,044 SF
# of Buildings1
Market SegmentAll
Taxes$259.34/Unit (2016)
Walk Score®Somewhat Walkable (65)
Transit Score®Some Transit (41)

Land

Land Acres0.16 AC
Bldg FAR1.19
Land SF6,804 SF
2016 Assessment
Improvements
Land
Total Value
 $71,182
 $7,800
$78,982
 $8,898/Unit
 $975/Unit
$9,873/Unit
Current
YOY Change

Vacancy Rates

Current Building
12.5%
0.0%
Submarket 2-4 Star
6.3%
2.0%
Market Overall
9.4%
1.1%

Asking Rents Per Unit

Submarket 2-4 Star
$1,063
4.9%
Market Overall
$1,054
2.9%

Concessions

Submarket 2-4 Star
2.0%
2.6%
Market Overall
2.8%
1.1%

Under Construction Units

Market Overall
9,990
54.5%

Submarket Sales Activity

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