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3815 Fannin St 15 Unit Apartment Building $895,000 ($59,667/Unit) 8.89% Cap Rate Houston, TX 77004
Investment Highlights
- 3,699 SF Communal Housing (15 Units) / 5,000 SF Lot
- 100% Occupancy with Low Turnover
- Recent Renovations include: new roof, new ardy plank, new flooring in common areas, new windows
- Prime Midtown Location
- Upside in Rents
- Annual NOI: $79,550
Executive Summary
Prime investment opportunity in the heart of Midtown Houston. 3,699 SF communal housing property situated on a 5,000 SF lot, offering 15 fully leased units with 100% occupancy and consistently low turnover. The property has undergone significant recent capital improvements, including a new roof, Hardy Plank siding, new windows, and updated flooring in common areas. With an annual NOI of $79,550 and clear upside in rents, this asset presents a stabilized income stream in one of Houston’s most desirable urban submarkets.
Property Facts
| Price | $895,000 | Apartment Style | Low-Rise |
| Price Per Unit | $59,667 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 3,699 SF |
| Cap Rate | 8.89% | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1930/2018 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $895,000 |
| Price Per Unit | $59,667 |
| Sale Type | Investment |
| Cap Rate | 8.89% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 0.11 AC |
| Building Size | 3,699 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1930/2018 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Heating
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (85)
Property Taxes
| Parcel Number | 0130720000018 | Improvements Assessment | $119,305 |
| Land Assessment | $375,000 | Total Assessment | $494,305 |
Property Taxes
Parcel Number
0130720000018
Land Assessment
$375,000
Improvements Assessment
$119,305
Total Assessment
$494,305
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3815 Fannin St
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