DESCRIPTION:
Don’t miss your chance at this cash flowing 8-plex in Minor Alvin subdivision. This multifamily was built in 1978 and sits on a 14,584 sqft lot.
7 units are 2 bedrooms and 1 bathroom.
1 unit is 1 bedroom and 1 bathroom.
Turnkey condition with light cosmetic refresh
MISCELLANEOUS:
Current Income:
• Rents range from $750–$1,100
• Monthly Gross: $8,525
• Annual Gross: $102,300
Operating Expenses: $31,224
Projected Income (Market Rents):
• Target rents: $1,100–$1,200/unit
• Projected Monthly Gross: $9,200
Projected Annual Gross: $110,400
ARV & Built-In Equity:
• Based on income approach at 8–9% cap rate
• Estimated ARV: $880,000 – $990,000
• Equity Upside: $181K–$291K at market rents
*Can send rent roll and additional information upon request*
Viewing by appointment only! Serious buyers only.
Not located in a flood zone