2508 Southmore Blvd - Apartments FOR SALE


Houston, TX 77004- MacGregor
$2,775,000 USD
832-832-0661
2508 Southmore Blvd, Houston, TX for Sale
$2,775,000 USD
Apartments - FOR SALE
1/13
null | 6% Cap Rate

2508 Southmore Blvd
Houston, TX 77004
MacGregor


HIGHLIGHTS

  • Renovated 20-unit multifamily asset
  • ~$1.7M invested into renovations and capital improvements
  • Major upgrades to plumbing, electrical, roofing, HVAC , structural, and fire sprinkler systems
  • Fully leased with stable in-place cash flow
  • Minutes from the Texas Medical Center, University of Houston, Hermann Park, and Downtown Houston
  • Strong demand drivers from healthcare, university, and urban employment growth

OVERVIEW

Contempo Apartments is a renovated 20-unit multifamily investment opportunity located along Southmore Blvd. in Houston’s rapidly evolving East End Houston submarket, positioned between the Texas Medical Center, Museum District, University of Houston, and Downtown Houston corridors. The property consists of three buildings totaling approximately 15,396 SF on 0.66 acres and includes sixteen one-bedroom units and four two-bedroom units. Originally constructed in 1935 and 1965, the asset has undergone substantial renovations and capital improvements over the past decade, with ownership investing approximately $1.7 million into both interior upgrades and major building systems. Improvements include significant plumbing, electrical, roofing, structural, HVAC, fire sprinkler, landscaping, and interior renovation work, helping reduce near-term capital expenditure exposure for future ownership. The property is currently fully leased with strong in-place cash flow and is being marketed primarily as a stabilized, in-place investment opportunity rather than a heavy value-add story. What makes Contempo Apartments particularly compelling is the combination of stabilization, infrastructure investment, and location within one of Houston’s most institutionally anchored urban corridors. The property is located approximately 1.2 miles from the Houston Museum of Natural Science, 1.7 miles from University of Houston, 2.2 miles from the Texas Medical Center, and approximately 3.5 miles from Downtown Houston and Daikin Park. Residents benefit from immediate access to healthcare, education, employment, and entertainment destinations, while investors benefit from durable renter demand supported by the surrounding Medical Center, university, and urban employment base. The asset’s approachable size and renovated condition position it well for private investors and 1031 exchange buyers seeking a quality multifamily opportunity inside Loop 610.

FOR SALE DETAILS

PRICE

$2,775,000 USD

PRICE/SF

$180 USD /SF

# OF UNITS

20

PRICE/UNIT

$138,750

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Contempto Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

None

APN/PARCEL ID

0611180000009

ASK ABOUT THIS PROPERTY

Travis PurvisNorthPeak Commercial AdvisorsMore Info
832-832-0661

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Travis PurvisNorthPeak Commercial AdvisorsMore Info
832-832-0661

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