17-Unit Apartment Complex!
4831 Sycamore Avenue, Pasadena, TX 77503
Marketing description
Call Seller Luis for more information - 361-935-4638
17-Unit Apartment Complex For Sale
17-Unit Value-Add Multifamily Investment – 7.6% In-Place Cap | Proven Renovation Strategy | Houston MSA
Sycamore Flats is a 17-unit, single-story multifamily asset located in Pasadena, TX, within close proximity to the Houston Ship Channel and major industrial employment corridors.
The property has undergone significant renovations, with 16 of 17 units upgraded, providing investors with immediate in-place cash flow and minimal remaining execution risk.
The asset is currently operating at a 7.6% cap rate ($102,581 NOI) with clear pathways to increase income through continued lease-up at market rents and implementation of utility bill-back (RUBS), representing an estimated 17%+ NOI upside.
This offering presents a stabilized, income-producing asset with built-in upside, positioned in one of the strongest blue-collar employment corridors in the Houston MSA.
For more info contact seller Luis - (361) 935-4638 or visit TexasFSBO.com
Investment highlights
- Strong in-place cash flow with day-one yield
- Proven renovation program already executed (16/17 units complete)
- Below-market rents with mark-to-market potential (~22% upside)
- Additional NOI growth through utility reimbursement (~$10K+)
- Located near major employers including Chevron Phillips, BASF, and Shell
- High-demand workforce housing submarket with stable tenant base
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