Montrose Multi Family 3.8% interest rate 2 Properties Offered at $3,200,000 in Houston, TX

Prime Montrose Multifamily Portfolio with Value-Add & Redevelopment Potential
306 Hawthorne St & 2420 McDuffie St | Houston, TX 77006
This offering includes two well-located multifamily properties in the heart of Montrose, one of Houston’s most desirable and walkable neighborhoods. Situated at 306 Hawthorne Street and 2420 McDuffie Street, these properties are surrounded by million-dollar homes and offer a rare blend of stable cash flow, redevelopment potential, and long-term upside.
The portfolio is currently 3 units vacant, yet still generates a strong 6.14% cap rate based on in-place income. With a pro forma net operating income of approximately $244,000, the projected cap rate reaches 7.63% when fully leased. Rents are strong in this high-demand area, and the tenant base is stable, making this an excellent low-maintenance investment in a prime location.
A standout feature of this portfolio is the assumable financing: a loan with an attractive 3.8% interest rate and over 6 years remaining, with an approximate balance of $1.7 million. This offers a significant advantage in today’s high-interest-rate environment, allowing investors to lock in below-market debt while enjoying strong returns.
Additionally, 2420 McDuffie presents a compelling redevelopment opportunity. The property could be torn down and replaced with 4–5 patio homes, a transformation already common along the street. Whether an investor chooses to hold both properties for steady income or redevelop one for higher value, this portfolio offers unmatched flexibility in one of Houston’s premier inner-loop markets.