HVAC: HVAC/Window Units | No in-unit W/D Connections (common laundry room)
Offered All Cash or New Loan
P&L and CapEx Reports for 2022 & 2023 Available Upon Request
Purchase Price: 15,000,000
3% Assigment Fee
All offers must present POF and LOI.
Ask our DISPO REP about access instructions.
Investment Highlights
All Bills Paid Asset with proven rental history and income upside.
96% Physical Occupancy in strong submarket near University of Houston & I-45.
200/mo Rent Bump on upgraded units | Additional value via flooring upgrades (50 bump/unit)
Stabilized NOI (Year 3 Estimate): ~1.36M.
Stabilized Value (5% Cap): ~27.2M.
No Down Units per seller | Habitability Passed | Insurance recently renewed at a reduced rate.
Laundry Contract Expired – potential upside via private operation
Existing Infrastructure for storage expansion on-site (unused slab available)
Location Overview – Greater Hobby / SE Houston Submarket
Minutes from Hobby Airport, University of Houston, and Texas Southern University
Easy access to I-45 and Loop 610; ~14 miles from Downtown Houston
Strong blue-collar rental base with affordability, space, and stable employment hubs
Local demand drivers: healthcare, logistics, aerospace, and retail
Nearby attractions include Space Center Houston, Blackhawk Park, and Museum District
DISCLAIMER
Investors are responsible for their own due diligence and must consult their legal, tax, and financial advisors. All financial data presented herein are estimates and subject to change.
DISCLAIMER: This is an assignment of contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.
Additional details
Type
Commercial
Parking
Off street
Built in
1955
Lot size
5.675 acres
Price$15,000,000
ARV
$20,000,000
Gross margin
$5,000,000
Deals nearby
$35,000
(ARV -
$260,000)
3 Beds
3 Baths
1680 sq.ft
$99,998
(ARV -
$265,000)
2 Beds
1 Baths
900 sq.ft
$279,999
(ARV -
$420,000)
4 Beds
3 Baths
3000 sq.ft
$170,000
(ARV -
$275,000)
3 Beds
2 Baths
1337 sq.ft
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