7530 Canal St
Houston, TX 77012
The Marisol Apartments- Take Over Note! · Multifamily Property For Sale · 46 Units

Almost all 2 bedrooms! A house is included! Outstanding value add 46 unit in the East side of town, fully leased and cashflowing! Minutes away from Downtown Houston! 33 of the units completely rehabbed from the ground up. Finish rehabbing the 13 and RUBS water for more 10% cap rate! Already rehabbed units include Alaska White granite counter tops, Marble surround baths, high quality waterproof flooring, new termite treated, studs, sheetrock and paint, ALL brand new double pane windows, AC/Heating units, etc. Exterior is completely renovated with playground and garden area, exterior lightning, and sophisticated lightened signage. Most units are highly coveted 2 bed 1 bath, with only 1 one bed and 2 three bed. 3 bedroom house plus extra paid parking goes along with sale! Additional sources of income include laundry and parking grossing close to $2k a month! Proforma supports $5mm at a 7% cap with potential revenue increase opportunity from improving remaining units. Buyer must be able to assume two loans totaling $2.85 million with 4.97% interest. All buyer has to do is bring $850K to closing as down payment. To qualify, buyer or buying partners must prove they have a cumulative net worth equal to or more than the $2.85M being assumed, among other minor lender requirements. Local market undergoing exponential growth with brand new multifamily developments, and local government upgrading green areas (Gus Wortham Gulf Course). This is a great opportunity for investors looking to cashflow from day 1 and also bring up value! Please call Joel at 713.458.8686 if you have any questions, and please email Boris@sanmore.com for financial information