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Sloan Garden Apartments 6403 Sloan St 18 Unit Apartment Building $3,150,000 ($175,000/Unit) 5.01% Cap Rate Houston, TX 77087
Investment Highlights
- Frame up remodel started 2020 and finished in 2022
- Easy access to 610 Loop, I-45, Hobby Airport and Downtown
- Will consider Owner Financing with 40% down and interest only financing.
- Central HVAC, Quarts Counters, Tile Backsplash, LVT Flooring, Shaker cabinets, Stainless steel appliances and fixtures
- Gated community, on-site maintenance personnel, Laundry room
- 100% Occupied
Executive Summary
100% Occupied. 18-unit gated community fully renovated down to the frame. Each unit has two bedrooms, central HVAC, insulated windows, Quartz counters, tile backsplash, LVT flooring throughout, and on-site maintenance personnel. Centrally located with easy access to 610 and I-45. Each unit comes with a full-size refrigerator. Community laundry room.
Data Room Click Here to Access
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$264,780
|
$17.51
|
| Other Income |
$7,200
|
$0.48
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$271,980
|
$17.99
|
| Taxes |
$28,500
|
$1.88
|
| Operating Expenses |
$87,517
|
$5.79
|
| Total Expenses |
$116,017
|
$7.67
|
| Net Operating Income |
$155,963
|
$10.32
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $264,780 |
| Annual Per SF | $17.51 |
| Other Income | |
|---|---|
| Annual | $7,200 |
| Annual Per SF | $0.48 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $271,980 |
| Annual Per SF | $17.99 |
| Taxes | |
|---|---|
| Annual | $28,500 |
| Annual Per SF | $1.88 |
| Operating Expenses | |
|---|---|
| Annual | $87,517 |
| Annual Per SF | $5.79 |
| Total Expenses | |
|---|---|
| Annual | $116,017 |
| Annual Per SF | $7.67 |
| Net Operating Income | |
|---|---|
| Annual | $155,963 |
| Annual Per SF | $10.32 |
Property Facts
| Price | $3,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $175,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Cap Rate | 5.01% | Building Size | 15,120 SF |
| Gross Rent Multiplier | 11.83 | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2021 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Zoning | None - No zoning in Houston TX | ||
| Price | $3,150,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 5.01% |
| Gross Rent Multiplier | 11.83 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 15,120 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2021 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | None - No zoning in Houston TX |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Courtyard
- Laundry Facilities
- Gated
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 18 | $1,238 | 900 |
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Property Taxes
| Parcel Number | 0590860570015 | Total Assessment | $1,284,235 (2025) |
| Land Assessment | $80,600 (2025) | Annual Taxes | $28,500 ($1.88/SF) |
| Improvements Assessment | $1,203,635 (2025) | Tax Year | 2022 |
Property Taxes
Parcel Number
0590860570015
Land Assessment
$80,600 (2025)
Improvements Assessment
$1,203,635 (2025)
Total Assessment
$1,284,235 (2025)
Annual Taxes
$28,500 ($1.88/SF)
Tax Year
2022
Contact
-
Mark Dimas -
Mark Dimas Team
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Sloan Garden Apartments | 6403 Sloan St
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