801 & 803 66th St, Houston, TX 77011
- $750,000
- 1
- BD
- 1
- BA
- 4,368
- SqFt
- List Price
- $750,000
- Status
- ACTIVE
- MLS#
- 28729462
- Days on Market
- 0
- 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
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)
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Listing courtesy of Coldwell Banker Ultimate.