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801 & 803 66th St, Houston, TX 77011

$750,000
: 1
BD
: 1
BA
: 4,368
SqFt

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List Price: $750,000
Status: ACTIVE
MLS#: 28729462
Days on Market: 37
Year Built: 1946
Bedrooms: 1
Bathrooms: 1
Full-baths: 1
Living Area: 4,368
Lot Size: 5,000
Lot Size Source: Appraiser
Subdivision: Central Park Magnolia Park
Region: 4
Market Area: East End Revitalized
County: Harris

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Property Description

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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Additional Information

Finance Available: Cash, Conventional
Neighborhood: Central Park To Magnolia Park
Heating: Window Unit(s)
Cooling: Window/Wall
Stories: 2
Roof: Composition
School District: Houston
Elementary School: Tijerina Elementary School
Middle School: Edison Middle School
High School: Austin High School (Houston)