About this property

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.

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