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1026 Miles St 11 Unit Apartment Building $920,000 ($83,636/Unit) 8.48% Cap Rate Rosenberg, TX 77471
Investment Highlights
- Hi occupany rate year round
- space Laundrary room to be built
- Plenty of room for rent increases
Executive Summary
1026 & 1016 Miles St | 11-Unit Multifamily Investment Opportunity - Rosenberg, TX
This is a stabilized, cash-flowing 11-unit asset producing $94,800 in annual gross income with expenses of approximately $16,812, resulting in a strong $77,988 NOI.
Offered at $920,000, this equates to:
8.48% Cap Rate
$83,636 per door
For a stabilized multifamily property with completed capital improvements and operational upside, this is compelling value.
Why This Deal Stands Out:
• Room for strategic rent increases (High occupancy multifamily property)
• Opportunity to add an on-site laundry facility to further increase NOI
• Tenants pay their own electricity (individually metered)
• Public water
• Long-term tenant base providing stability
• PEX plumbing installed in 1026 (Building 1)
• Roof replaced on both buildings (2023)
• Water heater replaced on all units (2023)
• 5 units remodeled (2022–2023)
This is not a heavy reposition. It’s a performing asset with clean financials and immediate yield — plus clear paths to push returns even higher.
At under $84K per door and an 8.48% cap rate, opportunities like this are increasingly difficult to find in today’s market.
This is a stabilized, cash-flowing 11-unit asset producing $94,800 in annual gross income with expenses of approximately $16,812, resulting in a strong $77,988 NOI.
Offered at $920,000, this equates to:
8.48% Cap Rate
$83,636 per door
For a stabilized multifamily property with completed capital improvements and operational upside, this is compelling value.
Why This Deal Stands Out:
• Room for strategic rent increases (High occupancy multifamily property)
• Opportunity to add an on-site laundry facility to further increase NOI
• Tenants pay their own electricity (individually metered)
• Public water
• Long-term tenant base providing stability
• PEX plumbing installed in 1026 (Building 1)
• Roof replaced on both buildings (2023)
• Water heater replaced on all units (2023)
• 5 units remodeled (2022–2023)
This is not a heavy reposition. It’s a performing asset with clean financials and immediate yield — plus clear paths to push returns even higher.
At under $84K per door and an 8.48% cap rate, opportunities like this are increasingly difficult to find in today’s market.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $920,000 | Apartment Style | Low-Rise |
| Price Per Unit | $83,636 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 8.48% | Building Size | 5,068 SF |
| Gross Rent Multiplier | 9.7 | Average Occupancy | 82% |
| No. Units | 11 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1945/2022 |
| Property Subtype | Apartment | ||
| Zoning | L | ||
| Price | $920,000 |
| Price Per Unit | $83,636 |
| Sale Type | Investment |
| Cap Rate | 8.48% |
| Gross Rent Multiplier | 9.7 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 5,068 SF |
| Average Occupancy | 82% |
| No. Stories | 1 |
| Year Built/Renovated | 1945/2022 |
| Zoning | L |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 5 | - | - |
1 1
Walk Score®
Very Walkable (74)
Property Taxes
| Parcel Number | 3025-00-001-0070-901 | Total Assessment | $193,251 |
| Land Assessment | $52,097 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $141,154 | Tax Year | 2025 |
Property Taxes
Parcel Number
3025-00-001-0070-901
Land Assessment
$52,097
Improvements Assessment
$141,154
Total Assessment
$193,251
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1026 Miles St
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