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Tronewood Apartments 9222 Lockwood Dr 24 Unit Apartment Building $1,550,000 ($64,583/Unit) Houston, TX 77016
Investment Highlights
- Owner Financing
- Multi-Family
- No Credit or Bad Credit OK
- 60% Occupancy
Executive Summary
Multifamily Property For Sale! 24 units – 20 one-bedroom units and 4 two-bedroom units on a corner lot with 13,850 sq.ft. of building space and 29,240 sq.ft. of land. This is a great opportunity for investment in a high-demand rental area of Houston. The property is centrally located with easy access to major roads and within minutes of several universities, including the University of Houston, Texas Southern University, and University of Houston–Downtown. Perfect for student housing or long-term rentals. Owner financing available – No credit OK. Don't miss this opportunity!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$124,000
|
$8.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$124,000
|
$8.95
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $124,000 |
| Annual Per SF | $8.95 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $124,000 |
| Annual Per SF | $8.95 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,550,000 | Lot Size | 0.67 AC |
| Price Per Unit | $64,583 | Building Size | 13,850 SF |
| Sale Type | Investment | Average Occupancy | 92% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 2.45/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | None - None | ||
| Price | $1,550,000 |
| Price Per Unit | $64,583 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.67 AC |
| Building Size | 13,850 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.45/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | None - None |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 500 |
| 2+1 | 4 | - | 600 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 0731800020268 | Improvements Assessment | $1,004,970 |
| Land Assessment | $95,030 | Total Assessment | $1,100,000 |
Property Taxes
Parcel Number
0731800020268
Land Assessment
$95,030
Improvements Assessment
$1,004,970
Total Assessment
$1,100,000
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Tronewood Apartments | 9222 Lockwood Dr