Southmore Place 3710 Southmore Blvd 78 Unit Apartment Building $4,500,000 ($57,692/Unit) 3.61% Cap Rate Houston, TX 77004
INVESTMENT HIGHLIGHTS
- Excellent Location, close to Downtown, Medical Center, University of Houston and Texas Southern University
FINANCIAL SUMMARY (ACTUAL - 2024) 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
|
PROPERTY FACTS
| Price | $4,500,000 |
| Price Per Unit | $57,692 |
| Sale Type | Investment |
| Cap Rate | 3.61% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 12 |
| No. Units | 78 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.71 AC |
| Building Size | 54,934 SF |
| Average Occupancy | 54% |
| No. Stories | 2 |
| Year Built | 1965 |
| Tenancy | Single |
| Parking Ratio | 0.36/1,000 SF |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 18 | $825.00 | 700 |
| 1+1 | 49 | $875.00 | 750 |
| 2+1 | 16 | $950.00 | 850 - 1,000 |
1 of 1
Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 0410310340010 | Total Assessment | $5,543,224 (2023) |
| Land Assessment | $1,635,546 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,907,678 (2023) | Tax Year | 2024 |
CONTACT
-
Joseph Onwuteaka - Law Office of Joseph Onwuteaka, P.C.
