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Cashflowing 5 Unit Complex Next to Lyndon B Johnson Hospital

5603 Pickfair St, Houston
ROI
16.19% IRR
Strategy
Long Term Rental
Cashflowing 5 unit complex next to Lyndon B Johnson hospital. True 1% Rule deal with $5250/mo in rents from two duplexes and one SFH, all 2 bedrooms. Rougher area with low-income population and low crime rate. Two duplexes with 2 beds 1 bath per unit all occupied at $1k/mo. One rebuilt 2 bed 2 bath SFH currently leased for $1250/mo. All units have new water heaters, furnaces, and rooms. Separate electric and gas, common water meter.

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Cashflowing 5 Unit Complex Next to Lyndon B Johnson Hospital

Listed 10/16/2023

5603 Pickfair St, Houston

Purchase Price:$500,000

Cash Outlay:$160,000

Cashflow:$468/mo

Cap Rate:7.43%

IRR:16.19%

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