3805-3813 Wipprecht St - Apartments FOR SALE


Houston, TX 77026- Kashmere Gardens
$2,400,000 USD
713-316-7059
3805-3813 Wipprecht St, Houston, TX for Sale
$2,400,000 USD
Apartments - FOR SALE
1/19
null | 7.14% Cap Rate

3805-3813 Wipprecht St
Houston, TX 77026
Kashmere Gardens


OVERVIEW

Partners is please to present a 21-unit apartment complex in Northeast Houston completely rehabbed in 2022. This property is situated just a few minutes from downtown within the 610 loop in an area with tremendous single family development due to its proximity to the Medical Center, Downtown and the Galleria…all major employment centers & destinations in Houston. The fully gated complex underwent extensive renovations in 2022-2023 including foundation work, new 30-yr roofs, new HVAC, electrical panels, pex plumbing & water heaters, windows, paint, W/D connections and much more. This property presents a unique opportunity as a future single family housing development with each house already re-platted into its own lot; no need to spend months replatting when it comes time to redevelop the property. As such, each unit has its own water & electrical meter leaving the tenants responsible for all of their utility expenses. The current owner has gone through great lengths to place quality tenants in the units, and as a result, has had very little turnover for the last year. Additional income could come from leasing washer and dryer units to tenants, all other appliances are owned by the landlord and convey.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$154 USD /SF

# OF UNITS

21

PRICE/UNIT

$114,286

CAP RATE

7.14%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wipprecht Plaza

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

42

LAND DETAILS

LAND ACRES

1.03 AC

LAND SF

44,997 SF

ZONING

N/Ap, Houston

APN/PARCEL ID

0651270100173,0651270100174,0651270100176,0651270100184,0651270100187,0651270100191,0651270100194,0651270100201

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.