Value-Add Quadplex with New Roof and One Vacancy

791 Fortune St, Houston
ROI
15.65% IRR
Strategy
Long Term Rental
Value-add quadplex with new roof and one vacancy. C class neighborhood in Northside. Two units month-to-month at $525-550/mo need updating to increase to $750+/mo. One updated unit rented for $750/mo. 2,376 sq ft quadplex with 2 beds, 1 bath per unit. Built in 1965. One unit currently vacant and listed for $750/mo, one updated unit rented mtm for $750/mo. Two outdated units rented mtm for $525 and $550. Owner currently pays water, which should be transferred to tenants at market rent.

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Value-Add Quadplex with New Roof and One Vacancy

Listed 06/20/2023

791 Fortune St, Houston

Purchase Price:$325,000

Cash Outlay:$107,750

Cashflow:$248/mo

Cap Rate:6.38%

IRR:15.65%

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