Richards and Norvic Portfolio (Creative Financing Offered)
Multifamily | 9.26% CAP (Actuals) | 17 Units
Marketing description
Marcus & Millichap is proud to present the opportunity to acquire a 17-unit multifamily portfolio located at 7914 Norvic Street and 8006 Richards Street in Houston's East Side, inside the 610 Loop. Consisting of Section 8 studio units, the portfolio is positioned within a quiet, supply-constrained neighborhood benefiting from limited competing inventory, relatively low crime, and stable tenant demand. The Property generates average in-place rents of approximately $1,116 per leased unit, providing durable cash flow supported by the Housing Choice Voucher Program.
The defining feature of this offering is its highly attractive creative financing structure. Qualified buyers can capitalize on approximately 85% seller-financed loan-to-value with a blended interest rate of approximately 6%, significantly reducing upfront equity requirements while enhancing leveraged cash flow. Combined with stabilized operations and dependable Section 8 income, this financing creates a rare opportunity for investors to acquire a durable income stream with favorable debt terms, positioning the asset for long-term wealth creation through amortization, principal paydown, and appreciation.
Investment highlights
- 85% Seller Financing - Approx. 85% seller-financed LTV with a blended ~6% interest rate minimizes equity requirements and enhances leveraged returns.
- Stable Section 8 Income - Average leased rents of $1,116/unit supported by Section 8 provide durable cash flow with reduced collection risk.
- Supply-Constrained Infill Location - Inside Houston's 610 Loop in a quiet East Side pocket with limited competing inventory, supporting long-term occupancy and value.
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