3424-3426 Tuam St - Apartments FOR SALE


Houston, TX 77004- Third Ward
$1,429,000 USD
713-316-7059
3424-3426 Tuam St, Houston, TX for Sale
$1,429,000 USD
Apartments - FOR SALE
1/23
null | 11.04% Cap Rate

3424-3426 Tuam St
Houston, TX 77004
Third Ward


OVERVIEW

Partners is pleased to present to the market a 2 building, 16-bed student housing portfolio located just around the corner from the University of Houston and Texas Southern University. Built in 2017 and 2019, these modern units are a rare find in this market for students seeking an elevated living experience close to campus. The buildings feature on-site parking with a modern exterior which was recently repainted and gated entrances & security cameras for added safety. Interiors feature recently installed cabinets, stone counters, in-unit washer & dryer connections and other modern finishes found in a typical class A apartment complex. Each floor has 4 bedrooms with 4 private baths and a centrally located shared kitchen/livingroom. The property is currently fully leased to a non-profit organization through March of 2025, after which it will become available to students for rental again (a leasing agent has already started work pre-leasing beds at $900/mo). The central location to two colleges makes this property easy to lease up, with frequent requests from students, sororities and fraternities. The building could also be utilized as an Air-BNB, boarding house, or by a church or other housing agencies that utilize shared kitchens. Owner financing may be available for a qualified buyer. Please do not disturb the current residents.

FOR SALE DETAILS

PRICE

$1,429,000 USD

PRICE/SF

$116 USD /SF

# OF UNITS

16

PRICE/UNIT

$89,313

CAP RATE

11.04%

% 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

2019

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,367 SF

ZONING

N/a

APN/PARCEL ID

0372520000001

ASK ABOUT THIS PROPERTY

Ryan DeGennaroPartnersMore Info
713-316-7059

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Ryan DeGennaroPartnersMore Info
713-316-7059

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