3274 Branard St - Apartments FOR SALE


Houston, TX 77098
$2,500,000 USD
832-791-4188
3274 Branard St, Houston, TX for Sale
$2,500,000 USD
Apartments - FOR SALE
1/16
null | 5.46% Cap Rate

3274 Branard St
Houston, TX 77098


HIGHLIGHTS

  • Prime multifamily investment opportunity in one of Houston’s most coveted neighborhoods, Greenway-Upper Kirby.
  • Branard Apartments boasts 100% occupancy of all 14 units which have seen significant upgrades in recent years.
  • Commuters will delight in the location just off Richmond Avenue which connects to I-69, Route 610, and South Freeway.
  • Amenity rich area with excellent walk score of 86 with many conveniences within a few blocks radius.
  • Major retailers nearby include Costco, Trader Joe’s, Chick-fil-A, Whole Foods, H-E-B, Walgreens, Starbucks, and countless others.

OVERVIEW

Branard Apartments, perfectly located at 3274 Branard Street, is the ideal investment within the booming Greenway-Upper Kirby neighborhood. The 100% occupied apartments have recently undergone a full renovation in 2023 to attract tenants in this highly coveted area. New granite countertops in kitchen and bath and new vinyl plank floors will guarantee that renters love their space. Ringing in at an impressive 10,425 total square feet across 0.21 acres the asset utilizes the entire property to its full advantage. Each unit comes equipped with vinyl and tile floor, and full kitchens. All units are one-bedroom and one bath and range in size from 580 up to 620 square feet. The property also has several key features including a courtyard, fenced lot, designated parking, a zen garden, laundry facility, and video patrol. There is a significant opportunity for new ownership to raise rents to market rates to yield a higher net operating income. As a part of the Neartown/River Oaks Multi-Family Submarket, Branard Apartments benefits from it’s location. Heading into 2025, the Neartown/River Oaks multifamily market is in one of its tightest fundamental positions in over a decade, thanks to healthy demand and limited new supply. New supply fell to a 12-year low in 2024 and is poised to be even less in 2025. Houston as a whole is also a major draw for more investment into multifamily with a growing metro area. Houston continues to be one of the nation's better-performing markets for employment growth, adding more than 62,000 jobs in the trailing 12-month period through November 2024. The labor market now has more than 300,000 more jobs than before the pandemic, among the strongest gains in the country. The Houston metropolitan area has a population of about 7.6 million making it the fifth-largest in the U.S. Its young population, affordability, warm climate, low taxes, generally pro-business environment, diversity, and culture continue to attract new residents. Median household income sits at around $80,000/year. The region's population has grown 16.5% over the past decade, compared to the national benchmark of 5.4%. This Upper Kirby District living space is walking distance from many restaurants and bars. Commuting is a breeze for residents with major roadways Highway 59 and Richmond Avenue connecting to the rest of the city. Residents are drawn to the area because of the mix of urban and suburban amenities.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$240 USD /SF

# OF UNITS

14

PRICE/UNIT

$178,571

CAP RATE

5.46%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Branard Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

None

APN/PARCEL ID

0650840030010

ASK ABOUT THIS PROPERTY

Emily MoonDumont Properties LLCMore Info
832-791-4188

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Emily MoonDumont Properties LLCMore Info
832-791-4188

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