1920 Richmond Ave - Apartments FOR SALE


Houston, TX 77098- Montrose
$2,700,000 USD
713-504-6936
1920 Richmond Ave, Houston, TX for Sale
$2,700,000 USD
Apartments - FOR SALE
1/2
null | Request Cap Rate

1920 Richmond Ave
Houston, TX 77098
Montrose


HIGHLIGHTS

  • This 17-unit apartment community provides a unique and historic Art Deco investment on a prominent half-acre corner lot.
  • The building includes an onsite laundry facility, a handy man’s shed, beautiful green spaces, and onsite surface parking.
  • The property is minutes from quality retail amenities such as H-E-B, Target, Trader Joe’s, PetSmart, Take 5 Oil Change, Starbucks, and Whataburger.
  • A population of more than 227k lives within three miles of the property, having grown by more than 11% since 2020.

OVERVIEW

Located in the bustling neighborhood of Montrose, this stately apartment building at 1920 Richmond Avenue, with its cool Art Deco inspired vibe, is one of the last remaining structures of its kind in the area. The nearly half acre corner lot leaves abundant space for both green space and parking and includes an on-site laundry facility and a handy-man's shed. Impeccably maintained and updated over the years this building can continue to house tenants for the foreseeable future. There is also significant potential for a covered land play or adaptive reuse, offering a fantastic location for a new future endeavor. The residents at 1920 Richmond Avenue enjoy easy access to shops, restaurants, art galleries, the Museum District and the Texas Medical Center. The property is within minutes of household name retail locations for H-E-B, Target, Trader Joe’s, PetSmart, Take 5 Oil Change, Starbucks, Whataburger, and many more. The area is easily accessible via major nearby thoroughfares, including Richmond Avenue and Interstate 69, and the building receives daily brand exposure to more than 23,000 passing vehicles. The units see high demand from a population of more than 227,000 within three miles that has increased by 11% since 2020.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

17

PRICE/UNIT

$158,824

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

-

APN/PARCEL ID

0382260000006

ASK ABOUT THIS PROPERTY

Jay MonroeMartha Turner Sotheby's International RealtyMore Info
713-504-6936

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Jay MonroeMartha Turner Sotheby's International RealtyMore Info
713-504-6936

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