Cashflowing 5 Unit Complex Next to Lyndon B Johnson Hospital

5603 Pickfair St, Houston

ROI

16.52% 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. C grade area with low-income population and low crime rate. Best for a local investor or with an established team. 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 02/07/2024

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5603 Pickfair St, Houston

Purchase Price:$500,000

Cash Outlay:$160,000

Cashflow:$516/mo

Cap Rate:7.26%

IRR:16.52%

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