1318 Avenue A - Apartments FOR SALE


South Houston, TX 77587- Mount Vernon
$4,600,000 USD
713-405-7480
1318 Avenue A, South Houston, TX for Sale
$4,600,000 USD
Apartments - FOR SALE
1/22
null | Request Cap Rate

1318 Avenue A
South Houston, TX 77587
Mount Vernon


HIGHLIGHTS

  • Asset - 42-unit multifamily asset built in 2020, offering modern construction with limited near-term capex need
  • Strong Occupancy & Cash Flow
  • Value-Add Flooring Upside
  • Operational Momentum
  • Attractive Risk-Adjusted Upside
  • All units are equipped with individual water and electricity meters.

OVERVIEW

1318 Avenue A is a 2020 construction multifamily asset offering strong in-place occupancy, improving operations, and flexible acquisition terms. • Occupancy: 93% • Condition: Modern construction with ongoing interior upgrades • Management: Recently transitioned to direct owner management Operational Momentum Over the past six months, monthly NOI has risen significantly following the owner’s assumption of management responsibilities. During this transition: • Underperforming tenants were removed • Leasing quality has improved • Occupancy remains strong at 93% despite tenant turnover This demonstrates both operational stabilization and improved tenant profile without sacrificing occupancy — a strong indicator of durable demand and disciplined management. Capital Improvements A flooring upgrade program is currently underway: • Units are being converted to vinyl flooring upon tenant turnover • 4 units have already been completed • 6 units will feature vinyl flooring by the end of February This phased approach modernizes interiors, enhances durability, and supports continued rent growth with minimal operational disruption. Financing Advantage Seller financing available, offering flexible acquisition structuring and potential interest rate advantages relative to conventional financing.

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$118 USD /SF

# OF UNITS

42

PRICE/UNIT

$109,524

CAP RATE

Request Cap Rate

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2020

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.29 AC

LAND SF

56,192 SF

ZONING

-

APN/PARCEL ID

0341930000205

ASK ABOUT THIS PROPERTY

Matthew BeanPartnersMore Info
713-405-7480

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Matthew BeanPartnersMore Info
713-405-7480

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.