8% CAP RATE! 21 Unit Wipprecht Village Homes
Multifamily | 21 Units | $104,762/unit
Marketing description
Wipprecht Village Homes is a fully remodeled multifamily investment property featuring 21 detached 2BR/1BA rental homes in Houston, TX. Built in 1960 and fully remodeled in 2022-2023, the property offers approximately 15,880 SF of total building area on approximately 1.03 acres. Each unit features approximately 758 SF with separate electric and water meters, washer/dryer connections, and new roofs, electrical, plumbing and mechanicals. The gated community offers dedicated parking and is 100% occupied.
Located minutes from Downtown Houston with convenient access to I-610 and US-59/I-69, near Hardy Yards and the East River development corridor. The property provides access to major employment hubs and transportation routes with workforce housing demand and long-term appreciation potential.
Investment highlights
- Minutes from Downtown Houston
- Convenient access to I-610 and US-59 / I-69
- Near Hardy Yards and the East River development corridor
- Access to major employment hubs and transportation routes
- Workforce housing demand with long-term appreciation potential
- 100% Occupied!
- 8% CAP RATE!
- Current Scheduled Rent $22,236/mo
- Pro Forma Cap Rate approx. 9.0%
- Price Per Unit approx. $104,762
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