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Wheatley Court Apartments 5408 Market St 32 Unit Apartment Building $3,500,000 ($109,375/Unit) 5.02% Cap Rate Houston, TX 77020
Investment Highlights
- Across the street from Wheatley High School
- Bus station next to property
- Two blocks away from Fifth Ward / Denver Harbor Transit Center
Executive Summary
Wheatley Court Apartments is a 32-unit, fully renovated multifamily property strategically located in Houston's rapidly transforming East End — approximately 3.5 miles from Downtown Houston, 1.5 miles from EaDo, and within a short drive of the 150-acre East River mixed-use development.
Logica Real Estate Services III LLC has owned and self-managed the asset since March 2023, completing $500,000 in documented capital improvements and stabilizing the property at 100% occupancy. The asset is offered as a turnkey, cash-flowing investment with measurable upside through value-add rent upside, an unimplemented RUBS opportunity, and an in-place Fannie Mae loan available for assumption.
Logica Real Estate Services III LLC has owned and self-managed the asset since March 2023, completing $500,000 in documented capital improvements and stabilizing the property at 100% occupancy. The asset is offered as a turnkey, cash-flowing investment with measurable upside through value-add rent upside, an unimplemented RUBS opportunity, and an in-place Fannie Mae loan available for assumption.
Financial Summary (Actual - 2025) 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
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 32 | $900.00 | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 0631680010001 | Total Assessment | $1,833,984 |
| Land Assessment | $564,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,269,984 | Tax Year | 2025 |
Property Taxes
Parcel Number
0631680010001
Land Assessment
$564,000
Improvements Assessment
$1,269,984
Total Assessment
$1,833,984
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Presented by
Logica Services Holding, LLC
Wheatley Court Apartments | 5408 Market St
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