12302 Boreas Dr Houston, TX 77039

This exceptional value-add multifamily investment opportunity presents 10 units within five single-story buildings totaling 21,780 square feet on a 5,280 square foot rentable area, situated in Houston's desirable Aldine neighborhood at 12302 Boreas Dr., 77039. Built in 1985 and renovated in 2007, the property boasts a 90% occupancy rate as of February 29, 2024, with all units featuring two bedrooms and one bathroom. Its prime location offers convenient access to major highways including I-69, I-45, Beltway 8, and the Hardy Toll Road, providing easy commutes to Downtown Houston. The property benefits from its proximity to schools and a blue-collar employment hub, ensuring a strong and stable renter base. Currently, rents are below market value, presenting a significant opportunity to increase cash flow through strategic renovations and rent adjustments. The property's Class C designation and 5.80% cap rate further highlight its investment potential. Implementing a RUBS system to optimize utility expenses will further enhance profitability. With the median home price in the area experiencing a remarkable 10% year-over-year increase, reaching $192,702, this property represents a compelling investment prospect with substantial upside potential for long-term returns. This is a rare chance to capitalize on robust rent growth in a thriving Houston neighborhood.