29 Unit Houston Apartment For Sale - Great Cash Flow with Upside!

[Chris Bounds]

Golfcrest Apartments

3045 Golfcrest Blvd. Houston, TX 77087

1BR / 1BA Apartment Complex, 29 units Offered at $834,000

Year Built 1955

Sq Footage 17,400

Bedrooms 1

Bathrooms 1 full

Floors 2

Parking Uncovered

Lot Size 27,219 sqft

NOI: $67,756

This Class C property consists of 29 one bed / one bath units in two 2-story buildings located in the Gulfgate area off 45 South and 610 - a very HOT area for investors.

19 units leased at $520 and $525 per month (gas & water paid). One efficiency leased at $500 per month (all bills paid). 16 of 20 leased units are fully rehabbed. 4 units rent-ready. 6 units need rehab (Est $3k materials each). Managed by tenant.

Estimated Proforma Value: $1.1M+ at 8% Cap Rate.

Drive by property, but do not disturb the tenants. Serious inquiries only please. Act fast if you are interested because soon I am going to refinance and finish the lease out. Financial statements available for serious buyers.