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20554533
20554534

2703 Mason St, Houston, TX 77006

BS
TX 9006906
Sanmore Investments
FM
TX TX 796355
Sanmore Investments
Listed by Sanmore Investments
$2,790,000
592 days on market
Updated 111 days ago

16 Unit Boutique Apartment Montrose / Museum District Market

Details
APN 0041360000009
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,240
Net Rentable (SqFt) 9,640
Units 16
Cap Rate 7.23%
NOI $201,800
Occupancy 87.5%
Pro-Forma Cap Rate 9.7%
Pro-Forma NOI $270,591
Price per SqFt $302
Class B
Year Built 1955
Year Renovated 2024
Buildings 1
Stories 2
Lot Size (SqFt) 9,240
Zoning B1 -- Real, Residential, Multi-Family
Parking Spaces 16 spaces
Parking Per SqFt 1.73
Investment Type Value Add
Occupancy Date 11/01/2024
Sale Condition 1031 exchange

Multifamily | 16 Units | Montrose Market

Marketing description

NEWLY REMODELED LUXURY boutique living in the heart of the Montrose area. UNBEATABLE walkability! Brand new quarter-million dollar dipping pool and SPA! Open YEAR ROUND! THAT'S RIGHT! Hot Tub will be HEATED in the winter time! PERFECT for those days of after-work relaxation! Two blocks from Westheimer, and 5 minutes from Downtown. Modern looking property, units include refrigerator, stove, microwave, washer and dryer. Doggy Park on the side of the building! The property consists of sixteen (16) units and serves its residents with on site parking. 7/16 UNITS were updated in 2024 including, upgraded electrical, plumbing, new floors, appliances, new roof and exterior paint. Brand new everything inside and out! The property is unrestricted and the majority of units are below market rent which gives an investor multiple opportunities to add value.

Investment highlights

  • Unbeatable Walkability!

  • Minutes from Downtown, Famous Midtown Night Life, Museum District, and World renowned Houston Medical Center!

  • Brand New Dipping Pool and Hot Tub!

Listing Contacts

BS
TX 9006906
Sanmore Investments
FM
TX TX 796355
Sanmore Investments
Listed by Sanmore Investments

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$201,800.00
$16,816.67/mo

Valuation Metrics

0
DSCR
7.23%
Cap Rate
7.23%
ROI

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Additional Information

Name
boris sanchez
License
9006906
Brokerage
Sanmore Realty, LLC
Brokerage Phone
7134800002
Title
Real Estate Broker
Brokerage Address
1801 Main Street
Name
Federico Medina
License
TX 796355
Brokerage
Sanmore Investments, LLC
Title
Commercial Real Estate Agent
Brokerage Address
1801 Main Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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