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7614 Grahamcrest Dr

6 Unit Apartment Building $900,000 ($150,000/Unit) 7.83% Cap Rate Houston, TX 77061

Investment Highlights

  • Close proximity to Hobby Airport, U of H, and major key destinations.

Executive Summary

One bed $989 Two Bed $1,400. Beautifully renovated apartment community featuring one- and two-bedroom units designed with modern living in mind with no carpet throughout. Each unit boasts the convenience of a washer and dryer. Spacious stand-up showers. Central A/C and heating. Fully equipped with a fridge and a gas stove. Open concept kitchen and living space. For the one-bedroom units, experience a private suite for added privacy. For the two-bedroom units, you'll find the bedrooms and a full bathroom upstairs, providing privacy then open concept kitchen and living area downstairs perfect for entertaining, with the added convenience of a half bathroom. Designated parking space. This community offers easy access to major destinations. Just a 5-minute drive from Hobby Airport, 15 minutes from Downtown, and within close proximity to U of H, Toyota Center, San Jacinto College S, Baybrook and Almeda Mall, Memorial SE Hospital, you'll find everything you need just minutes away.

Property Facts

Price $900,000
Price Per Unit $150,000
Sale Type Investment
Cap Rate 7.83%
No. Units 6
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Dormitory
Apartment Style Low Rise
Building Class C
Lot Size 0.23 AC
Building Size 4,000 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1971/2024
Parking Ratio 2.5/1,000 SF

Amenities

  • Smoke Detector

Unit Amenities

  • Air Conditioning
  • Disposal
  • Microwave
  • Washer/Dryer
  • Heating
  • Ceiling Fans
  • Granite Countertops
  • Hardwood Floors
  • Refrigerator
  • Stainless Steel Appliances

Site Amenities

  • Fenced Lot
  • Grill
  • Smoke Free

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 4 $989.00 600 - 650
2+1.5 2 $1,375 650 - 800

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0780710020033
Land Assessment
$39,600
Improvements Assessment
$392,013
Total Assessment
$431,613

zoning

Zoning Code None (n/a)
None (n/a)
  • Listing ID: 32057201

  • Date on Market: 6/7/2024

  • Last Updated:

  • Address: 7614 Grahamcrest Dr, Houston, TX 77061

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