2719 Canfield StHouston, TX 77004

Property Details for 2719 Canfield St

Year built

1930

Property size (Sq ft)

25,000 SF

Property type

Residential income homes

Property subtype

Dormitories

Description

This exceptional 10-unit multifamily property, located at 2719 Canfield St, Houston, TX 77004, presents a compelling redevelopment opportunity in a rapidly growing area. The property, encompassing 25,000 square feet on a 25,000 square foot lot, consists of ten single-family rental units, currently boasting 100% occupancy as of July 29, 2023. Built in 1930 and renovated in 2019, the property features a total of 7,304 net rentable square feet, spread across ten single-story buildings. The current Net Operating Income (NOI) stands at $90,000. Zoned for commercial use, this property offers significant potential for value-add improvements or complete redevelopment. Its prime location near the University of Houston ensures consistent tenant demand, while the surrounding area's ongoing development promises substantial long-term appreciation. The land value is assessed at $70 per square foot. This investment presents a unique chance to capitalize on the vibrant Houston market and its burgeoning student housing and commercial sectors. The Harris County property, with APN 0171450000006, offers a diverse range of investment strategies, from maximizing rental income to undertaking a complete redevelopment project. This is a Class C property with significant upside potential.

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.7318

Longitude

-95.3505

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