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32925078
32925130

3040 Golfcrest Blvd, Houston, TX 77087

JK
0765958
Marcus & Millichap - Houston
Listed by Marcus & Millichap - Houston
$695,000
33 days on market
Updated 33 days ago

The Reveille At Golfcrest

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 8,040
Units 12
Cap Rate 6.91%
NOI $47,998
Occupancy 91.67%
Tenancy Multi
Price per SqFt $86
Class B
Year Built 1935
Year Renovated 2022
Acreage 0.260
Investment Type Value Add

Multifamily | 6.91% CAP | 12 Units

Marketing description

Marcus & Millichap is pleased to present a compelling value-add opportunity located in the heart of Houston. Positioned just off the 610 Loop, the property offers tenants immediate access to Houston's major thoroughfares and employment hubs, enhancing long-term renter demand and investment stability.

This asset is comprised of 12 total units, featuring 10 spacious one-bedroom/one-bath layouts and 2 two-bedroom/two-bath units. With only one current vacancy, the property provides investors with a rare opportunity to acquire a stabilized asset with immediate upside potential. Strategic value-add enhancements can be implemented early in the hold period to unlock additional cash flow and long term appreciation.

The current ownership has completed substantial capital improvements to both the interior and exterior, while leaving room for further upgrades to maximize returns. The fully gated property includes covered parking and an on-site laundry facility, both of which can be further monetized to increase additional income.

Whether you are a first time investor or looking to expand an existing portfolio, this offering presents an exceptional opportunity to acquire a well-located, income-producing asset with strong value-add potential in central Houston.

Investment highlights

  • Centrally Located Asset with Significant Upside Through Value-Add Enhancements
  • Stabilized Asset Located in the Heart of Houston
  • Individually Metered Electricity

Listing Contacts

JK
0765958
Marcus & Millichap - Houston
Listed by Marcus & Millichap - Houston

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$47,998.00
$3,999.83/mo

Valuation Metrics

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DSCR
6.91%
Cap Rate
6.91%
ROI

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