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2120 El Paseo St - One Montreal Place

589 - 789 SF Flex Condo Units Offered at $99,000 - $111,000 Per Unit in Houston, TX 77054

Investment Highlights

  • One Montreal Place offers fantastic bedrooms, open floorplans, and private covered parking.
  • A premier opportunity to acquire three fully occupied condos that are very sought-after by medical students and employees.
  • Located in Houston’s medical center area within walking distance of the NRG stadium.
  • All three units are on the second story, fully furnished, offering abundant modern upgrades.

Executive Summary

Welcome to One Montreal Place, a chance to buy three fully rented condos on one- and two-year leases. It is in Houston’s Medical South, which presents immense medical entry by students and employees. One Montreal Place’s units stay full and have the potential for due medium rentals, catering to traveling nurses and doctor programs. All three units offer beautiful views and overlook the community pool and tennis courts. All three units have been upgraded to include new floors, windows, doors, and kitchen countertops. The living area features a wood-burning fireplace, built-in bookshelves, and access to one of the home's two patios. The kitchen has been fully remodeled with new cabinets, quartz countertops, tile backsplash, and brand-new stainless-steel appliances. Fresh paint throughout the entire interior of the home. A new full-sized stackable washer & dryer will be left. The half bath on the first level has also been remodeled with a brand-new sink and vanity. The master bedroom boasts two walk-in closets, a new carpet, and access to a secondary patio area. Master bath features tub/shower combo plus new double-sink vanities. Medical Center South is located south of the Texas Medical Center, home to Houston’s major healthcare facilities and medical schools. The NRG Arena, NRG Stadium, and NRG Center are also in the neighborhood, so living here provides easy access to rodeos, football games, concerts, and more. Along with medical facilities, Medical Center South is laden with restaurants, stores, and an abundance of housing options. Attracting even more renters, Medical Center South is also convenient to Downtown Houston, Midtown, and Hermann Park. Inquire today to learn more about the opportunity to acquire the highly demanded, income-generating, and fully occupied multifamily asset at One Montreal Place.

Property Facts

Price $99,000 - $111,000
Unit Size 589 - 789 SF
No. Units 3
Total Building Size 2,000 SF
Property Type Multifamily
Property Subtype Apartment
Building Class B
Floors 2
Typical Floor Size 1,000 SF
Year Built 1982
Lot Size 20.83 AC
Parking Ratio 1.5/1,000 SF
Opportunity Zone Yes

3 Units Available

Unit 1808

Unit Size 589 SF
Price $99,000
Price Per SF $168.08
Condo Use Flex
Sale Type Investment
Cap Rate 7.58%
NOI $7,500
No. Parking Spaces 3
Sale Conditions Bulk/Portfolio Sale
APN/Parcel ID 1150040240019
Description

New granite counters in bathroom and kitchen, all new appliances, new flooring, new window and doors, new AC unit, painted

Sale Notes

Can purchase all 3 Condos for 348,000!
INCLUDES:
Unit 2204 - 789 SF
Unit 2419 - 588 SF
Unit 1808 - 588 SF

Unit 2419

Unit Size 589 SF
Price $99,000
Price Per SF $168.08
Condo Use Flex
Sale Type Investment
Cap Rate 6.36%
NOI $6,300
Description

New flooring, all new lighting, all new fans, all new appliances, granite counters and sinks. All new faucets, paint

Sale Notes

Can purchase all 3 Condos for 348,000!
INCLUDES:
Unit 2204 - 789 SF
Unit 2419 - 588 SF
Unit 1808 - 588 SF

Unit 2204

Unit Size 789 SF
Price $111,000
Price Per SF $140.68
Condo Use Flex
Sale Type Investment
Cap Rate 6.00%
NOI $6,660
Description

New countertops and flooring, new windows, and doors, painted

Sale Notes

Can purchase all 3 Condos for 348,000!
INCLUDES:
Unit 2204 - 789 SF
Unit 2419 - 588 SF
Unit 1808 - 588 SF

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+3 3 - -
Bike Score ®
Biker's Paradise (90)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Amenities

Unit Amenities

  • Air Conditioning
  • Heating

Site Amenities

  • Pool
  • Tennis Court
  • Listing ID: 32848202

  • Date on Market: 8/17/2024

  • Last Updated:

  • Address: 2120 El Paseo St, Houston, TX 77054

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