58-Unit Texas Multifamily Portfolio: Houston and Big Spring - Business for Sale
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58-Unit Multifamily Portfolio in Houston and Big Spring, TX
Houston, TX, US
Added today
Real Estate Multifamily Property Investment
Absentee / Semi-Absentee
A 58-unit multifamily real estate portfolio consisting of two renovated apartment buildings in Houston and a workforce/extended-stay housing property in Big Spring, Texas.
Key Information
Asking
$5.0M
Revenue
$800K
Earnings
$450K
Multiple
11.1x
Key Highlights
- 58-unit Texas multifamily portfolio includes two renovated properties in Houston (22 and 16 units) and a 20-unit property in Big Spring.
- Individual property asking prices: $2,000,000 (Houston 22-unit), $1,650,000 (Houston 16-unit), $1,480,000 (Big Spring 20-unit).
- Houston 16-unit building has new roof, electrical, plumbing, lighting, flooring, kitchens, bathrooms, windows; Certificate of Occupancy issued August 22, 2026; no units occupied at lease-up start.
- Houston 22-unit building has new flooring, kitchen cabinets, countertops, bathroom fixtures, interior paint, and some new windows; 10 of 22 units currently occupied.
- Seller's stabilized pro forma for Houston properties projects $484,800 annual gross scheduled rent and $266,640 NOI (45% expense ratio); projected cap rates: 7.33% (22-unit), 7.28% (16-unit) at individual asking prices.
- Mineral rights expected to transfer; approximately $100/month in royalties excluded from NOI.
Contact Info
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