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Updated 16-Unit Next to Medical Centers

5102 Academy St, Houston
ROI
20.67% IRR
Strategy
Mid Term Rental
Updated 16-unit next to medical centers. All 1 bed, 1 bath units. New roof, plumbing, fence, HVAC, water heaters. Inground pool on site. LTR rents $1400-1600/mo, furnished MTR rents $2000-2200. Operate as a mix to maximize revenue and keep occupancy high. Seller dropped price from $3.6M to $3.2M. Two story 16-plex built in 1957 with major mechanicals recently replaced including roof, water heaters, HVAC, plumbing, fence/gate. Fully updated 1 bed, 1 bath units. Inground pool for residents.

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Updated 16-Unit Next to Medical Centers

Listed 04/02/2024

5102 Academy St, Houston

Purchase Price:$3,000,000

Cash Outlay:$990,000

Cashflow:$3,510/mo

Cap Rate:7.35%

IRR:20.67%

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