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11111 Wiggins St 12 Unit Apartment Building $575,000 ($47,917/Unit) 13.30% Cap Rate Houston, TX 77029
Investment Highlights
- High occupancy with long term tenants
- Room for significant rent improvement
- Solid exterior contstruction
Executive Summary
This 12-unit apartment complex in Jacinto City offers a strong investment opportunity with immediate cash flow and upside potential. Currently 90%+ occupied, the property benefits from a stable tenant base, including many long-term residents. At current rental rates, the asset is delivering a 12%+ CAP rate, making it attractive for yield-focused investors. All leases are written as monthly leases, so all tenants are month to month.
Recent capital improvements include new electrical panels installed in all units in 2023, reducing near-term maintenance concerns. The property presents additional upside through rental increases, particularly with potential conversion to Section 8 housing.
Tenants enjoy convenient access to public transportation, grocery stores, and nearby dining options. The complex also features dedicated on-site parking with 14 spaces accessible from Wiggins Street. This is a turnkey asset with both stability and value-add potential in a high-demand rental area.
Recent capital improvements include new electrical panels installed in all units in 2023, reducing near-term maintenance concerns. The property presents additional upside through rental increases, particularly with potential conversion to Section 8 housing.
Tenants enjoy convenient access to public transportation, grocery stores, and nearby dining options. The complex also features dedicated on-site parking with 14 spaces accessible from Wiggins Street. This is a turnkey asset with both stability and value-add potential in a high-demand rental area.
Financial Summary (Actual - 2025) 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 - 2025) 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 Under Contract
| Price | $575,000 | Building Class | C |
| Price Per Unit | $47,917 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 6,652 SF |
| Cap Rate | 13.30% | Average Occupancy | 92% |
| Sale Condition | Deferred Maintenance | No. Stories | 2 |
| No. Units | 12 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 2.1/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | Industrial | ||
| Price | $575,000 |
| Price Per Unit | $47,917 |
| Sale Type | Investment |
| Cap Rate | 13.30% |
| Sale Condition | Deferred Maintenance |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 6,652 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 2.1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Industrial |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $900.00 | 400 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 0552220000025 | Total Assessment | $511,352 |
| Land Assessment | $105,850 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $405,502 | Tax Year | 2025 |
Property Taxes
Parcel Number
0552220000025
Land Assessment
$105,850
Improvements Assessment
$405,502
Total Assessment
$511,352
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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11111 Wiggins St
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