7518 Morley St - Apartments FOR SALE


Houston, TX 77061- Greater Hobby Area
$525,000 USD
618-550-8380
7518 Morley St, Houston, TX for Sale
$525,000 USD
Apartments - FOR SALE
1/34
null | 8% Cap Rate

7518 Morley St
Houston, TX 77061
Greater Hobby Area


HIGHLIGHTS

  • 8% cap in place!
  • Great starter multifamily property!
  • 100% occupancy for over 5 years - high demand area

OVERVIEW

Perfect entry point into Multifamily! Buy a nice house or this cash flowing asset! All units fully renovated! 6units - (5) 2 bed/1 Bath, (1)Studio with kitchenette. Do not walk the property or speak to tenants, viewing after offer acceptance & proof of funds. Studio F & Units A,B,C,D,E all (2bed/1bath units) all fully renovated in 2021, 2022, 2024. Water & electric by landlord. Roof 2017, partial siding replaced in 2020, 2022, 2025. Exterior Painted 2020, partial PEX/PVC water piping, 2 water heaters replaced 2014 & 2020, all new AC window units 2020/2021/2024, trees cleared along fence line 2021, parking lot raised and leveled with new rock 2021, new wired fire alarm installed in all units 2021. $70k area income, 34k VPD, property stays 100% occupied. 2 minutes from Hobby Airport and surrounding retail. 1 minute walk to bus stop & laundry facilities. 4min to Kroger, 8min to HEB. Text Agent for offering package with property information.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$174 USD /SF

# OF UNITS

6

PRICE/UNIT

$87,500

CAP RATE

8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

None

APN/PARCEL ID

0740390070001

ASK ABOUT THIS PROPERTY

Nicholas HeinzHeinz PropertiesMore Info
618-550-8380

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

Nicholas HeinzHeinz PropertiesMore Info
618-550-8380

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