Lorraine
Houston 16 Units | Multifamily
Marketing description
MAZ Real Estate is pleased to exclusivley offer the opportunity to acquire 2705 Lorraine St in Houston, TX. This deal consists of 1 building with 6 studios and 10 (1) bedroom, (1) baths.
Located just 10 minutes northeast of Downtown Houston, this property offers prime access within a rapidly transforming urban corridor.
Positioned just off the major thoroughfare of US-59/I-69, which sees over 200,000 vehicles per day, the site benefits from high visibility and connectivity. The property sits within a growing commercial and residential zone, just minutes from Hardy Yards, Fifth Ward redevelopment, and the Houston Farmers Market. Surrounded by new construction homes, local retail, and community-focused redevelopment projects, this location is ideally suited for investors or users looking to capitalize on Houston's inner-loop momentum.
Investment highlights
Implement RUBs: Currently, all utilities are paid by the owner. Introducing a RUBS would shift utility costs to tenants, improving net operating income and reducing owner expense exposure.
Increase Rents to Market: Opportunity to increase rents to $950, and apply for section 8, to increase further.
Exterior Enhancement: Opportunity exists for exterior improvements to further boost curb appeal and tenant retention.
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