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Browse More Listings in Multifamily For Sale, Houston, TX or Texas

Multifamily Property For Sale

1430 Miles St

1430 Miles St, Houston, TX 77015

Price:
$590,000
No. Units:
4
Building Size:
10,000 SF
Price/Unit:
$147,500
Property Type:
Multifamily
Property Sub-type:
Duplex/ Triplex/ Fourplex
Additional Sub-types:
Garden/Low-Rise
Government Subsidized
Mobile Home/ RV Community
Property Use Type:
Investment
Commission Split:
3%
Cap Rate:
12%
Occupancy:
100%
Lot Size:
2.20 AC
Find Out More...

Last Verified 10/20/2009 Listing ID 15777605

Highlights

$6,600/ month residual income
4 vacant lots for additional rental income

13 Income Producing Properties

Description

Mulit-unit Income Property 98%-100% solid occupancy for past 2.5yrs.(records)!2.2 acres tract of land platted & recorded has 10 homes. 3 are duplexes, 3 are two stories total 13 newly renovated income producing properties w/average income$6,600/mo.(records). In addition, there are 4 empty lots @-5000s.f./ea. that can take 4 more rental units @$600/mo.ea.min. The Taxes are aprox.$6,000/yr. total for all properties. Don't miss this opportunity to earn a steady residual income at a 12+ cap rate. We have more renters leaving deposits than units to rent(records) and we will sell individual lots or the whole thing. Homes in the area sell for a min. of $68,000(comparable to our small homes). Our larger homes are 2,400 s.f two stories & they get $125,000+!(copy of plat in pdf format will be available per request)

On the East side of town close to I-10 and 526. Convenient access to I-10 and centered between Beltway 8 and 610.

Financial Summary

Unit Mix Information

Actual
Year
2007
Scheduled Gross Income
$6,600
Net Operating Income
$70,800

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
Single Family Homes- One Story	4	$2,400	3,600
Single Family Homes- Two Story	3	$3,000	7,200
Duplexes	6	$1,200	8,000

Map of 1430 Miles St, Houston, TX 77015 (Harris County)

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Created 6/26/2008

Additional Information for 1430 Miles Street, Houston, TX 77015

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

View additional information for the property 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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Multifamily Property For Sale -

1430 Miles St, Houston, TX, 77015