7.7% IN-PLACE CAP RATE, $93,750/DOOR, 8-UNIT COMPLEX INSIDE THE 610 LOOP. Exceptional cash-flowing multi-family asset in Central Park / Magnolia Park (East End Revitalized). Composed of two separate two-story fourplex buildings totaling 4,368 SqFt. 100% occupied, generating $6,350/mo ($76,200/yr gross) with an actual in-place NOI of $57,741. Consists of eight identical 1-Bed/1-Bath units averaging ~$794/mo. Major capital expenditures already completed: recent replacement roof, replaced water main supply lines, and upgraded attic insulation. Separately metered electricity (tenant-paid). Water/sewer is owner paid, creating prime upside to implement RUBS or a flat utility fee to boost NOI. Minutes to Downtown Houston, EaDo, UH, and Port of Houston employment hubs. Do not disturb tenants; drive-by only until contract.
| MLS # | 28729462 |
|---|---|
| Listing Type | For Lease |
| Status | Active |
| Year | 1946 |
| Days On Site | 11 |
| Listing Provided By | Coldwell Banker Ultimate | Amanda Badawy |
| Bed(s) | 1 |
|---|---|
| Bath(s) | 1 Total |
| SQ Feet | 4,368 |
| Story(s) | 2 |
| Units | 1 |
| Acreage | 0.12 |
| State | TX |
|---|---|
| County | Harris |
| City | Houston |
| Zip Code | 77011 |
| Area | 4 |
| Subarea | East End Revitalized |
| Community Name | Central Park Magnolia Park |
| School District | 27 - Houston |
| Elementary School | Tijerina Elementary School |
| High School | 27 - Houston |
| Listing VS Median (in Central Park Magnolia Park) | |
Price: $750,000 low | high Med: $510,000 sqft: 4,368 low | high Med: 2,970 $ / sqft: $172 low | high Med: $172 On site: 11 low | high Med: 11 | |
| State | TX |
|---|---|
| County | Harris |
| City | Houston |
| Zip Code | 77011 |
| Area | 4 |
| Subarea | East End Revitalized |
| Community Name | Central Park Magnolia Park |
| School District | 27 - Houston |
| Elementary School | Tijerina Elementary School |
| High School | 27 - Houston |
| Listing VS Median (in Central Park Magnolia Park) | |
Price: $750,000 low | high Med: $510,000 sqft: 4,368 low | high Med: 2,970 $ / sqft: $172 low | high Med: $172 On site: 11 low | high Med: 11 | |