9211 Green River DrHouston, TX 77078

Property Details for 9211 Green River Dr

Year built

1965

Construction

BRICK

Lot size

1.00 AC

Property size (Sq ft)

2,640 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

641950150015

APU

641950150015

Description

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.

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.8363

Longitude

-95.2531

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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