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4831 Gulf Fwy
Houston, TX 77023
4831, 4135, & 4839 Gulf Fwy EADO & UofHouston · Multifamily Property For Sale
·
12 Units
Investment Highlights
- Unit Mix: (11) 1BR/1BA and (1) 2BR/1BA.
- Parking/Storage: Each unit includes an assigned garage space or storage area. There are six individual 1-car garages located beneath the rear units.
- Condition: Two units were fully renovated following fire damage in 2024; other units have been prepared as "rent ready" as needed.
- Layout: Each address includes a detached front duplex and rear garage apartments.
- Features: Hardwood floors throughout, separate gas and electric meters, and a shared water meter.
Executive Summary
We are pleased to present a multi-family investment opportunity at 4831-4839 Gulf Fwy, Houston, TX. This property features 12 units across three 4-plexes with classic mid-1940s architecture. Located inside the 610 Loop near the University of Houston, the site offers convenient access to the Texas Medical Center, Hobby Airport, and downtown Houston within the evolving EADO and Eastwood neighborhoods.
Property Details:
- Unit Mix: (11) 1BR/1BA and (1) 2BR/1BA.
- Layout: Each address includes a detached front duplex and rear garage apartments.
- Parking/Storage: Each unit includes an assigned garage space or storage area. There are six individual 1-car garages located beneath the rear units.
- Features: Hardwood floors throughout, separate gas and electric meters, and a shared water meter.
- Condition: Two units were fully renovated following fire damage in 2024; other units have been prepared as "rent ready" as needed.
Leasing and Financials:
- Current Rents: 1BR units at $800; 2BR unit at $1,000; renovated units at $1,200.
- Gross Rents: $6,500 - $7,000/month.
- Lease Terms: All tenants are long-term on month-to-month leases with below-market rents.
- Occupancy: Two 1BR/1BA units are currently vacant and require interior renovations.
- Expenses: Insurance is estimated at approximately $36,000/year.
Terms of Sale:
The property is being sold "as-is" with existing tenants. Please conduct drive-bys only and do not disturb occupants. There will be no showings or interior access without an accepted offer. Please note that limited financial information is available, and the property is being sold based on land value and improvements only.
Directions:
From Northbound I-45, take exit 43B to Tellepsen St., then follow Broadmoor St. and Lombardy St. to the property.
Property Details:
- Unit Mix: (11) 1BR/1BA and (1) 2BR/1BA.
- Layout: Each address includes a detached front duplex and rear garage apartments.
- Parking/Storage: Each unit includes an assigned garage space or storage area. There are six individual 1-car garages located beneath the rear units.
- Features: Hardwood floors throughout, separate gas and electric meters, and a shared water meter.
- Condition: Two units were fully renovated following fire damage in 2024; other units have been prepared as "rent ready" as needed.
Leasing and Financials:
- Current Rents: 1BR units at $800; 2BR unit at $1,000; renovated units at $1,200.
- Gross Rents: $6,500 - $7,000/month.
- Lease Terms: All tenants are long-term on month-to-month leases with below-market rents.
- Occupancy: Two 1BR/1BA units are currently vacant and require interior renovations.
- Expenses: Insurance is estimated at approximately $36,000/year.
Terms of Sale:
The property is being sold "as-is" with existing tenants. Please conduct drive-bys only and do not disturb occupants. There will be no showings or interior access without an accepted offer. Please note that limited financial information is available, and the property is being sold based on land value and improvements only.
Directions:
From Northbound I-45, take exit 43B to Tellepsen St., then follow Broadmoor St. and Lombardy St. to the property.
Property Facts
| Price Per Unit | $83,333 | Lot Size | 0.51 AC |
| Sale Type | Investment | Building Size | 11,249 SF |
| No. Units | 12 | Average Occupancy | 83% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1945/2025 |
| Apartment Style | Low-Rise | Parking Ratio | 2.13/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | MLT FAM DWLG | ||
| Price Per Unit | $83,333 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 11,249 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built/Renovated | 1945/2025 |
| Parking Ratio | 2.13/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MLT FAM DWLG |
Amenities
Unit Amenities
- Cable Ready
- Kitchen
- Hardwood Floors
Site Amenities
- 24 Hour Access
- Wi-Fi
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | $1,050 | - |
| 2+1 | 1 | $1,100 | - |
Property Taxes
| Parcel Number | 0542530000008 | Improvements Assessment | $121,259 |
| Land Assessment | $156,250 | Total Assessment | $277,509 |
Property Taxes
Parcel Number
0542530000008
Land Assessment
$156,250
Improvements Assessment
$121,259
Total Assessment
$277,509
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