Montrose 15 Unit Multifamily
Montrose Value Add Multifamily Asset
Marketing description
Well-maintained 15-unit apartment complex on a valuable corner lot in a rapidly improving neighborhood, offering strong current income and long-term upside. The property includes two 4-plex buildings (1940) and a 7-unit garden-style building (1962), with a total of 10,800 SF and an average of 720 SF per unit. Amenities include on-site laundry, three garage units, two storage rooms, and ample parking. All units feature central AC; the front buildings have been repiped with PEX plumbing and individual shut-offs. Recent improvements include new roofs (2020), electrical upgrades (2021), resurfaced parking lot (2021), multiple HVAC replacements, new commercial laundry units, updated kitchens in two units, and several new water heaters. Certificate of Occupancy was renewed in 2021. With over $100K in recent capital improvements, steady tenant demand, and prime location, this turnkey investment provides immediate cash flow and future growth potential.
Investment highlights
Core Montrose Infill Asset
15-unit multifamily property located on a prime corner lot in Montrose—one of Houston’s most established, walkable, and supply-constrained inner-loop submarkets with long-term appreciation and resilient renter demandAttractive Scale & Unit Mix
Three buildings totaling ~10,100–10,800 SF with an average unit size of ~720 SF, consisting entirely of 1-bed/1-bath units—ideal for Montrose’s renter demographicSignificant Recent Capital Improvements (Turnkey)
Over $100,000 in major upgrades completed, including new roofs (2020), electrical upgrades (2021), parking lot resurfacing, HVAC replacements, new commercial laundry equipment, water heaters, updated kitchens in select units, and full PEX repiping with individual shut-offs in front buildingsStrong In-Place Cash Flow with Upside
Current NOI of approximately $114,344 with stable in-place income and consistent tenant demand; clear value-add opportunity through continued interior renovations and rent alignment to marketAncillary Income Opportunities
Three garage units, storage rooms, and off-street parking provide additional revenue streams beyond base rents, enhancing overall yieldOperationally Efficient Asset
Central A/C in all units, on-site laundry, ample parking, and a renewed Certificate of Occupancy (2021) minimize near-term capital risk and support predictable operationsHigh-Quality Renter Demographics
Strong surrounding demographics with high household incomes, favorable renter-to-owner ratios, and proximity to major employment centers including Downtown, Texas Medical Center, Midtown, and Upper KirbyDurable Long-Term Investment Thesis
Limited new multifamily supply, infill location, and sustained redevelopment in Montrose support rent growth, occupancy stability, and long-term value preservation across market cycles
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