2512 Calumet St - Apartments FOR SALE


Houston, TX 77004
$1,650,000 USD
832-899-4389
2512 Calumet St, Houston, TX for Sale
$1,650,000 USD
Apartments - FOR SALE
1/60
null | Request Cap Rate

2512 Calumet St
Houston, TX 77004


HIGHLIGHTS

  • Income-Generating Multifamily Property: Established and profitable, generating $18,000 per month in Airbnb income.
  • Two Buildings: One building remodeled into three distinct units; the other newly constructed with four sleek, modern units.
  • Impressive NOI: Net Operating Income (NOI) stands at $133,810 annually.
  • Value-Add Opportunity: Potential to add two additional units, increasing revenue potential and profitability.
  • Vacancy Rate: Currently maintaining a low vacancy rate of just 10%.
  • Fully Furnished: The entire property is furnished with modern furniture, ready for immediate occupancy.

OVERVIEW

Introducing a rare investment gem—an established income-generating multifamily property that checks all the boxes. This distinctive asset comprises two buildings: one meticulously remodeled into three distinct units, and another newly constructed with four sleek, modern units. FF&E to convey with the sale of the property. 2023 Financial Overview: This property generated $214,133 in Airbnb income. With operating expenses at only 36.60% of the revenue, the NOI of 2023 stands at $133,810 annually. 2024 Financial Overview: From January to June 30th, this property generated $119,856.72 in Airbnb income. With operating expenses at only 29.60% of the revenue, the NOI stands at $84,320.70. Value Add Opportunity: There is an opportunity to add two additional units, which could further increase the annual revenue by $61,000 for a total of $275,000, with a projected NOI of $173,000.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$271 USD /SF

# OF UNITS

7

PRICE/UNIT

$235,714

CAP RATE

Request Cap Rate

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 Units - Cash Flowing Med Center AirBNB

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1935

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

-

APN/PARCEL ID

0611220000010

ASK ABOUT THIS PROPERTY

Charles PatawaranGatsby Advisors BrokerageMore Info
832-899-4389

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Charles PatawaranGatsby Advisors BrokerageMore Info
832-899-4389

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