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Value-Add 10 Unit in Greater Third Ward Minutes from Medical Centers, Universities, and Downtown

3126 Webster St, Houston
ROI
25.57% IRR
Strategy
Mid Term Rental
Value-add 10 unit in Greater Third Ward minutes from medical centers, universities, and downtown. Seller will accept $50k below asking price. Major capex completed, 6 units need interior updates. Great mid-term rental potential with 1 bedroom and studio units. 10 unit property with two buildings totaling 4,432 sq ft built in 1940. 8 - 1bed, 1bath units and 2 studio units. New roof, exterior paint, landscaping completed as well as 4 units fully updated inside. Six remaining units need interior updates to command premium market rents.

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Value-Add 10 Unit in Greater Third Ward Minutes from Medical Centers, Universities, and Downtown

Listed 06/29/2023

3126 Webster St, Houston

Purchase Price:$875,000

Cash Outlay:$420,000

Cashflow:$4,621/mo

Cap Rate:10.59%

IRR:25.57%

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