3643 N MacGregor Way - Apartments FOR SALE


Houston, TX 77004
$5,000,000 USD
281-403-3700
3643 N MacGregor Way, Houston, TX for Sale
$5,000,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

3643 N MacGregor Way
Houston, TX 77004


HIGHLIGHTS

  • 85% Occupancy
  • MINUTES FROM UH, TSU & MEDICAL CENTER
  • Excellent Condition

OVERVIEW

Introducing an exceptional investment opportunity: a fully renovated 40-unit multifamily property located at 3643 N MacGregor Way, Houston, TX 77021. This prime property is minutes from the University of Houston, Texas Southern University, and the Texas Medical Center, ensuring high rental demand. The complex consists of 28 two-bedroom and 12 three-bedroom units, offering a total rentable area of 29,068 sq. ft. Following a comprehensive renovation in 2021, including interior upgrades, exterior repairs, and modernized systems, the property is in excellent condition with 85% occupancy. The apartments feature modern interiors, central heating and cooling, energy-efficient windows, and a full appliance package. Each unit is separately metered for electricity, offering cost efficiency for both tenants and the owner. The property’s prime location provides easy access to major transportation routes and nearby amenities such as Hermann Park and the Museum District, appealing to a diverse tenant base including students and professionals. Furthermore, the owner is implementing a Ratio Utility Billing System (RUBS), which will significantly increase rental income and net operating income by shifting utility costs to tenants. This value- add opportunity enhances the property’s profitability and makes it even more appealing to investors seeking steady cash flow and long-term appreciation.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

40

PRICE/UNIT

$125,000

CAP RATE

Request Cap Rate

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

40 UNIT APT COMPLEX - NEAR UH/TSU - RENOVATED

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

42

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,646 SF

ZONING

-

APN/PARCEL ID

0410310340227

ASK ABOUT THIS PROPERTY

Kevin Riles, CCIMKevin Riles CommercialMore Info
281-403-3700

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Kevin Riles, CCIMKevin Riles CommercialMore Info
281-403-3700

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