Log In/Sign Up
Your email has been sent.
7914 Norvic St 11 Unit Apartment Building $1,425,000 ($129,545/Unit) 7.26% Cap Rate Houston, TX 77029
EXECUTIVE SUMMARY
This 3,400 sq. ft. apartment building with dedicated parking offers stable cash flow and minimal maintenance requirements, with no immediate CAPEX needs. The property is fully leased to rent-stabilized tenants, and the largest unit has been creatively configured into separate rentals, generating additional income.
Currently producing an annualized revenue of approximately $130,000 (pro-forma $142,000), this property has proven to be a consistent income generator. Located in a mixed industrial and residential area just minutes from Downtown Houston and the Houston Ship Channel, it sits within a rapidly developing corridor experiencing strong residential and commercial growth — making it an excellent investment opportunity.
Currently producing an annualized revenue of approximately $130,000 (pro-forma $142,000), this property has proven to be a consistent income generator. Located in a mixed industrial and residential area just minutes from Downtown Houston and the Houston Ship Channel, it sits within a rapidly developing corridor experiencing strong residential and commercial growth — making it an excellent investment opportunity.
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2023) 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 - 2023) 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
| Price | $1,425,000 | Building Class | C |
| Price Per Unit | $129,545 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 3,400 SF |
| Cap Rate | 7.26% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1982 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | None - None | ||
| Price | $1,425,000 |
| Price Per Unit | $129,545 |
| Sale Type | Investment |
| Cap Rate | 7.26% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,400 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1982 |
| Parking Ratio | 1.47/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | None - None |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Ceiling Fans
- Kitchen
- Vinyl Flooring
SITE AMENITIES
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | - |
| 1+1 | 3 | - | - |
| 2+1 | 2 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 0292240250004 | Total Assessment | $292,896 (2025) |
| Land Assessment | $42,500 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $250,396 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
0292240250004
Land Assessment
$42,500 (2025)
Improvements Assessment
$250,396 (2025)
Total Assessment
$292,896 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
1 of 7
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
LP Real Estate Holdings
7914 Norvic St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.