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Longstreet Fourplex | Seller Financing Avail 104 Longstreet Rd 4 Unit Apartment Building $775,000 ($193,750/Unit) 7.10% Cap Rate Willis, TX 77378
Investment Highlights
- Turnkey income: Fully leased 4-unit (all 2BR/2BA) with long-term tenants; ~$62,400/yr gross.
- Attractive owner financing: 30-yr amort with 5yr balloon options expands options during rent and site improvements while building equity.
- Strong, flexible play: ~7.1% cap at $775K; live-in-one-and-rent-the-rest or hold for cash flow near I-45/Lake Conroe.
Executive Summary
Investor or owner-occupant opportunity—two side-by-side duplexes sold together as a fully leased quadplex in fast-growing Willis. Each spacious 2-bed/2-bath unit features tile flooring, central HVAC, W/D connections, dishwashers, and handicap-accessible layouts. Tenants enjoy front-door assigned parking, a fully fenced lot, and a shared central courtyard that enhances both privacy and community. Built in 2008 and professionally maintained, the property generates a generous gross annual rent with low expenses and features long-term tenants, resulting in a vacancy rate of less than 10%. Located just minutes from I-45, Lake Conroe, shopping, schools, and medical centers. Ideal for disabled tenant needs, house hackers, buy-and-hold investors, or 1031 exchange buyers. Appointments are required with 24-hour notice.
Top Seller-Financing Structures: 20+% down, 30-year amortization, 5-year balloon, market-rate interest based on buyer strength.
Financials: Rent Roll & T12 available upon request
Top Seller-Financing Structures: 20+% down, 30-year amortization, 5-year balloon, market-rate interest based on buyer strength.
Financials: Rent Roll & T12 available upon request
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $775,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $193,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.10% | Building Size | 2,280 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.42 | No. Stories | 1 |
| No. Units | 4 | Year Built | 2008 |
| Property Type | Multifamily | Parking Ratio | 1.25/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $775,000 |
| Price Per Unit | $193,750 |
| Sale Type | Investment |
| Cap Rate | 7.10% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.42 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,280 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2008 |
| Parking Ratio | 1.25/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Wheelchair Accessible (Rooms)
- Large Bedrooms
Site Amenities
- Courtyard
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | $1,300 | 570 |
1 1
Property Taxes
| Parcel Number | 8520-01-00800 | Total Assessment | $224,000 (2025) |
| Land Assessment | $27,948 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $196,052 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
8520-01-00800
Land Assessment
$27,948 (2025)
Improvements Assessment
$196,052 (2025)
Total Assessment
$224,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Longstreet Fourplex | Seller Financing Avail | 104 Longstreet Rd
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