2703 Mason | 2703 Mason St
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2703 Mason 2703 Mason St
16 Unit Apartment Building $3,000,000 ($187,500/Unit) 5.30% Cap Rate Houston, TX 77006
Investment Highlights
- Unbeatable Walkability!
- Minutes from Downtown, Famous Midtown Night Life, Museum District, and World renowned Houston Medical Center!
- Brand New Dipping Pool and Hot Tub!
Executive Summary
NEWLY REMODELED LUXURY boutique living in the heart of the Montrose area. UNBEATABLE walkability! Brand new quarter-million dollar dipping pool and SPA! Open YEAR ROUND! THAT'S RIGHT! Hot Tub will be HEATED in the winter time! PERFECT for those days of after-work relaxation! Two blocks from Westheimer, and 5 minutes from Downtown. Modern looking property, units include refrigerator, stove, microwave, washer and dryer. Doggy Park on the side of the building! The property consists of sixteen (16) units and serves its residents with on site parking. 7/16 UNITS were updated in 2024 including, upgraded electrical, plumbing, new floors, appliances, new roof and exterior paint. Brand new everything inside and out! The property is unrestricted and the majority of units are below market rent which gives an investor multiple opportunities to add value.
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,000,000 | Apartment Style | Low Rise |
| Price Per Unit | $187,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.30% | Building Size | 9,640 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 75% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1955 |
| Property Subtype | Apartment | Parking Ratio | 1.66/1,000 SF |
| Price | $3,000,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Sale Conditions | 1031 Exchange |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 9,640 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1.66/1,000 SF |
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
Site Amenities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 7 | - | - |
| 3+1 | 1 | - | - |
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Walk Score ®
Walker's Paradise (91)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 0041360000009 | Improvements Assessment | $390,751 (2023) |
| Land Assessment | $1,016,400 (2023) | Total Assessment | $1,407,151 (2023) |
PROPERTY TAXES
Parcel Number
0041360000009
Land Assessment
$1,016,400 (2023)
Improvements Assessment
$390,751 (2023)
Total Assessment
$1,407,151 (2023)
zoning
| Zoning Code | B1 (Real, Residential, Multi-Family) |
| B1 (Real, Residential, Multi-Family) |
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2703 Mason | 2703 Mason St
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