For Sale
$1,300,000

9211 Green River DrHouston, TX 77078

Houston Multifamily Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional multifamily investment property, Green River Gardens, presents a compelling value-add opportunity in Houston, Texas. Located at 9211 N Green River Dr, 77078, this property encompasses 8,000 square feet across three two-story buildings situated on a one-acre lot. The property currently boasts 12 units, all currently occupied, generating a strong net operating income (NOI) of $87,689, representing a 6.75% cap rate. The asking price is $1,300,000, translating to $108,333 per unit and $162.50 per square foot of net rentable area (6,900 sq ft). Built in 1965, the property has undergone significant renovations in 2017, 2021, 2022, and 2023. The unit mix includes a combination of one- and two-bedroom apartments. A significant advantage is the availability of an additional half-acre of land, presenting potential for expansion with the possibility of adding 12 to 14 more units. The property's gated entrance enhances tenant security and market appeal. This fully occupied, well-maintained property offers a solid foundation for immediate cash flow and future growth potential in a desirable Houston location. Financial records are available upon request. This is a rare opportunity to acquire a value-add multifamily property with significant upside potential in a thriving market.

Highlights

  • Exceptional value-add multifamily investment opportunity in Houston, TX.
  • 12-unit property located at 9211 N Green River Dr, 77078, on a one-acre lot with an additional half-acre available.
  • 8,000 sq ft building, with 6,900 sq ft of net rentable area, currently generating $87,689 NOI (6.75% cap rate).
  • Asking price: $1,300,000 ($108,333 per unit, $162.50/sq ft).
  • Recently renovated (2017, 2021, 2022, 2023), with a mix of one- and two-bedroom units, currently 100% occupied.
  • Potential for expansion with 12-14 additional units.

Property Details for 9211 Green River Dr

Property type
Apartment buildings
Square Feet
8,000 SF
Year Built
1965
Buildings
3
Stories
2
Units
12

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.8358953
Longitude
-95.2531382
9211 Green River Dr, Houston, Texas

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9211 Green River Dr
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