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720 Memorial Mews St - 720 Memorial Mews 4 Unit Apartment Building Offered at $689,000 at a 6.11% Cap Rate Houston, TX 77079
Investment Highlights
- Consitently occupied units in Energy Corridor
- Desirable location close to I-10 and the Terry Hershey park system
- Strong cap rate with easy opportunity to increase rents on two of the units with longer term tenants in place
Executive Summary
Well-maintained four-unit town-home property ideally situated in the Energy Corridor next to Terry Hershey Park, offering a strong combination of location, condition, and stable rental income. The property consists of two 2-bedroom, 2-bath units and two 3-bedroom, 2-bath units, all currently leased with tenants in place. Ownership has professionally overseen management and upkeep for over five years. Each unit features updated interiors with granite countertops, stainless steel appliances, and hard-surface flooring throughout for easy maintenance. Living areas are generously sized and include fireplaces, while double-pane windows provide added energy efficiency. Residents enjoy convenient access to nearby walking and biking trails as well as outdoor amenities such as picnic and BBQ areas. The property is located within the highly regarded Katy Independent School District. Property is being offered occupied; showings will be arranged upon accepted offer—please do not disturb tenants.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Walk-In Closets
- Breakfast Nook
- Double Pane Windows
- Family Room
- Linen Closet
- Pantry
- Porch
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $1,300 | - |
| 3+2 | 2 | $1,350 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 1147280020021 | Total Assessment | $573,428 |
| Land Assessment | $164,500 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $408,928 | Tax Year | 2025 |
Property Taxes
Parcel Number
1147280020021
Land Assessment
$164,500
Improvements Assessment
$408,928
Total Assessment
$573,428
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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720 Memorial Mews St - 720 Memorial Mews
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