Motivated seller so, bring your best offer
This 13 units multi-family for sale near Hobby Airport, Houston TX. Motivated seller. Please contact Phone & Text 334-604-3856 email: 975rent@gmail.com. ***Please note that one of three buildings with 5 units has fire damage. 2 remaining buildings have 8 units 100% occupied. This is less than $75K a door for 8 remaining units “AS IS” is a great deal. This price is "AS IS" cash to close.*** The 5 unit building is a 3800 sq ft building used to have 4 units on the 2nd floor and 1 unit on the 1st floor. Remaining spaces on the 1st floor used to be storage and parking. Buyer might convert the storage and parking spaces on the 1st floor to an additional 3 units. In other words, the buyer can restore the 3800 sq ft building and make it a 8 units building instead of 5 to add value to property. After restore value for this 3800 sq ft building with 8 units should be about $100K a door or ARV of $800K. The cost of restoration can vary contractor to contractor. However, if the cost is $100 per sq ft then it would cost about $380K to restore the building for a ARV of $800K. Seller or the broker does not guaranteed the cost or ARV. You should do your own due diligence for the project.