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Multifamily Property For Sale

59 Units Homes Community

4403 Tampico St, Houston, TX 77016

Price:
$1,300,000
No. Units:
59
Building Size:
53,046 SF
Price/Unit:
$22,033.90
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Distressed:
Yes
Cap Rate:
10%
Occupancy:
66%
No. Stories:
1
Year Built:
1956
Lot Size:
198,290 SF
Find Out More...

Last Verified 1/2/2010 Listing ID 16103904

Highlights

SELLER WILL CARRY 10% SECOND
This asset offers Great Upside Potential Post Rehab and stabilization.

There is RUBS in place for electric, Water is at landlord's expense.

Description

This class C property is comprised of 44 individual one story brick houses
14 of which are duplexes.This quiet gated community built in 1956 is enclosed
on 4.5521 Acres. The subject property consists of 52(2Bd-1B) 3(3Bd-1Bth) 3(1Bd-1Bth)Total # of rental income units=59 plus 1 additional unit serving as laundry income. The 39 Units in working service is 97% occupied as of Jan/01/09. The remaining 20 UNITS in distressed condition are currently undergoing exterior rehabilitation. Complete Renovation of interior will be at new owner' s expense. Seller estimates $3,000 per door rehab.

Tampico Village Apartments are located in North Houston with 1 minute access to Highway 59 and 3 minute access to loop 610. Elementary,
Junior High and High Schools are all within 1.5mile of the property and many churches are in close proximity. Only 10 minute drive to Downtown
Houston.

Map of 4403 Tampico St, Houston, TX 77016 (Harris County)

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Created 2/13/2009

Additional Information for 4403 Tampico Street, Houston, TX 77016

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View property record information for 4403 Tampico Street - view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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4403 Tampico St, Houston, TX, 77016 - Available for Sale

Multifamily For Sale