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8814 Manus St 11 Unit Apartment Building $996,520 ($90,593/Unit) 7.27% Cap Rate Houston, TX 77093
Investment Highlights
- Attractive Basis & Stabliszed Cash Flow
- Strategic & Resilient Location
- Significant Recent Renovations
Executive Summary
BEST MULTIFAMILY DEAL ON THE MARKET. Please send the offer to Wale@NetworthBuilders.com. See MLS attachments for financials & Offering Memorandum. Information is deemed reliable but not guaranteed; buyers to verify. Unit #5 is vacant and available to show with Proof of Funds. All tenants are on annual leases, many long-term. Property has never flooded. Approx. monthly expenses: $780 water, $490 trash, $200 landscaping, $100 pest control, $1,148 insurance. No HOA, Deed or short-term rental restrictions. Call 832-776-9582 for questions.
NO SELLER FINANCING OR CREATIVE FINANCING OR SUBTO OFFER.
Physical Property Description:
BEST MULTIFAMILY DEAL consist of 5 units of 1bed/1bath and 6 Units of 2beds/1bath. Priced at 1% rental rule on existing rents (not projected!) See attached Offering Memorandum (OM). Great income-producing 11-unit multifamily Deal. New Roof, New HVAC, updated interior. Upside includes: Pet fees, rent increase, laundromat onsite, and implementing RUBS on water since there is no separate water meter. Unit #5 is vacant and available for showings with Proof of Funds. Unit 5 is representative of the overall condition of other units. All tenants are on annual leases, with the average tenant in place for several years and intending to remain with new ownership. Details on the MLS attachment. Monthly operating expenses for all eleven units include Approx. monthly expenses: $780 water, $490 trash, $200 landscaping, $100 pest control, $1,148 insurance. No HOA, no short-term rental restriction, and no deed restriction. Low-ball offers will not receive a response. No creative deal or “Subject To”.
NO SELLER FINANCING OR CREATIVE FINANCING OR SUBTO OFFER.
Physical Property Description:
BEST MULTIFAMILY DEAL consist of 5 units of 1bed/1bath and 6 Units of 2beds/1bath. Priced at 1% rental rule on existing rents (not projected!) See attached Offering Memorandum (OM). Great income-producing 11-unit multifamily Deal. New Roof, New HVAC, updated interior. Upside includes: Pet fees, rent increase, laundromat onsite, and implementing RUBS on water since there is no separate water meter. Unit #5 is vacant and available for showings with Proof of Funds. Unit 5 is representative of the overall condition of other units. All tenants are on annual leases, with the average tenant in place for several years and intending to remain with new ownership. Details on the MLS attachment. Monthly operating expenses for all eleven units include Approx. monthly expenses: $780 water, $490 trash, $200 landscaping, $100 pest control, $1,148 insurance. No HOA, no short-term rental restriction, and no deed restriction. Low-ball offers will not receive a response. No creative deal or “Subject To”.
Property Facts
| Price | $996,520 | Building Class | C |
| Price Per Unit | $90,593 | Lot Size | 0.50 AC |
| Sale Type | Investment | Building Size | 7,595 SF |
| Cap Rate | 7.27% | Average Occupancy | 100% |
| Sale Condition | Bulk/Portfolio Sale | No. Stories | 1 |
| No. Units | 11 | Year Built/Renovated | 1956/2024 |
| Property Type | Multifamily | Parking Ratio | 3.02/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Single-Family Home | ||
| Zoning | F1 - Commercial | ||
| Price | $996,520 |
| Price Per Unit | $90,593 |
| Sale Type | Investment |
| Cap Rate | 7.27% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 7,595 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1956/2024 |
| Parking Ratio | 3.02/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | F1 - Commercial |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Yard
- Family Room
- Instant Hot Water
- Lawn
- Pantry
- Smoke Free
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $1,225 | 792 - 1,000 |
| 1+1 | 6 | $975.00 | 572 - 872 |
1 1
Property Taxes
| Parcel Number | 0752410020003 | Improvements Assessment | $482,651 |
| Land Assessment | $372,295 | Total Assessment | $854,946 |
Property Taxes
Parcel Number
0752410020003
Land Assessment
$372,295
Improvements Assessment
$482,651
Total Assessment
$854,946
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8814 Manus St
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