Turn-Key Multi-Family Available In Houston, TX (17%+ Cap. Rate)

[Lyall Storandt]

Please contact me directly at (405) 361-1341 if you have any interest in this opportunity.

We have a unique off-market multi-family property package available in North Houston, TX (77032).

The package consists of 13 fully rented turn-key townhouses.

These townhouses all sit within a larger community of townhouses.

All 13 sit within two different "buildings" or rows of townhouses.

Each unit has at least a two-car carport; two units have two-car garages.

**Rents have not been adjusted since 2009 and most are under-market.

Here are the basics:

Cost: $550,000.00

Gross annual rents: $117,300
- Total annual taxes: $9,045.17
- Total annual insurance: $6,342.89
- Total annual HOA dues: $4,468.80
= Net annual rents: $97,443.14

Net annual rents ($97,443.14) / Cost ($550,000.00) = 17.72% cap. rate.

Rents / Lease / Monthly HOA Dues / Annual Taxes / Annual Insurance / Square Footage / Bedrooms / Bathrooms

I. $740 / Month-to-month / $19 / $659.86 / $607 / 1564 / 2 / 2.5
II. $850 / 6-Month / $19 / $730.56 / $660.89 / 1786 / 2 / 2.5
III. $750 / Month-to-month / $19 / $659.49 / $469 / 1564 / 2 / 2.5
IV. $925 / Month-to-month / $19 / $720.79 / $398 / 1786 / 4 / 3
V. $850 / 1-Year / $19 / $660.38 / $421 / 1564 / 2 / 2.5
VI. $750 / Month-to-month / $19 / $660.38 / $421 / 1564 / 2 / 2.5
VII. $700 / Month-to-month / $144.40 / $650.69 / $430 / 1405 / 2 / 2
VIII. $695 / Month-to-month / $19 / $785.92 / $467 / 1564 / 2 / 2.5
IX. $750 / Month-to-month / $19 / $780.21 / $533 / 1564 / 2 / 2.5
X. $750 / Month-to-month / $19 / $669.85 / $527 / 1564 / 2 / 2.5
XI. $900 / Month-to-month / $19 / $919.87 / $543 / 2543 / 4 / 3
XII. $540 / 6-Month / $19 / $538.58 / $339 / 969 / 1 / 1
XIII. $575 / Month-to-month / $19 / $538.49 / $360 / 1024 / 1 / 1.5

Totals: $9,775 / N/A / $372.40 / $9,045.17 / $6,342.89 / 21,380 / 29 / 26 Full & 9 Half