Rose Garden Apartments
40 Unit Apartment Building | $2,868,000 ($71,700/Unit) | Houston, TX 77076
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,868,000
- Property Type
-
Multifamily
- Square Feet
- 29,550 SF
Listing Contacts
Rick Stallings
Verified Profile
- Property Info
Property Overview
Investment Multi Family Property that is currently 100% full while the market shows 9.5% vacancy rate. This building has a potential for a huge rent growth opportunity. All Rents are below CoStar Market Rates. Management believes rents could be raised 11% to 41% with an average rent increase of 22% per unit per year. Pro forma cap rate is 7.28%. CoStar shows current Cap Rates in that area at 6.63%.
Property Details
- Class
- C
- Year Built
- 1965
- Stories
- 2
- Lot Size (sq. ft)
- 41,382 SF
- Units
- 40
Nearby Properties
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