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203 S Lockwood Dr 4 Unit Apartment Building $725,000 ($181,250/Unit) 11.39% Cap Rate Houston, TX 77011

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Investment Highlights

This property is just minutes away from downtown Houston, offering quick access to major business districts, cultural landmarks & entertainment venues
The spacious layout of 4-Plex Units offers flexibility for multiple rental units.

The convenient proximity to major highways makes commuting simple, enhancing the appeal for potential tenants.

Executive Summary

$50k price drop!!! The property offers 2,243 sq. ft. of living space on a 5,702 sq. ft. lot, providing ample room for modifications that could increase rental value-whether through unit separations, remodeling, or additional amenities.
With a growing demand for housing in the Houston's East End area, spurred by the ongoing gentrification and urban development of Oak Lawn, this property is poised to benefit from both short-term rental returns and long-term property appreciation not to mention it is in an opportunity zone offering additional deductions through ownership.
Short term and midterm rental with a proven track record of success. Income producing property with high end modern furniture included. Ask about owner finance options.

203 Lockwood Dr, Houston, TX 77011

Property Facts

Price	$725,000	Lot Size	0.13 AC
Price Per Unit	$181,250	Building Size	5,702 SF
Sale Type	Investment	Average Occupancy	100%
Cap Rate	11.39%	No. Stories	2
No. Units	4	Year Built/Renovated	1919/2023
Property Type	Multifamily	Parking Ratio	1.4/1,000 SF
Property Subtype	Apartment Multifamily Dormitory	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Building Class	B

Price	$725,000
Price Per Unit	$181,250
Sale Type	Investment
Cap Rate	11.39%
No. Units	4
Property Type	Multifamily
Property Subtype	Apartment Multifamily Dormitory
Building Class	B
Lot Size	0.13 AC
Building Size	5,702 SF
Average Occupancy	100%
No. Stories	2
Year Built/Renovated	1919/2023
Parking Ratio	1.4/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.