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Modern Multifamily Asset in Houston

1318 Avenue A, South Houston, TX 77587

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For Sale

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2020 construction, 97% occupancy, improving operations, seller financing available.

Type:Multifamily

Property size:

38,930 SF

Price / SF:

$118/SF

HighLights

High Occupancy: 97% occupancy rate
Seller Financing: Flexible acquisition structuring available
Improving NOI: Net Operating Income has significantly increased
Modern Construction: Built in 2020, the property offers modern appeal
Ongoing Upgrades: Interior upgrades are underway to enhance durability and support rent growth
Improved Tenant Profile: Leasing quality has improved

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Matt Bean

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For Sale

Contact for pricing

2020 construction, 97% occupancy, improving operations, seller financing available.

Type:Multifamily

Property size:

38,930 SF

Price / SF:

$118/SF

Added:: Mar 12, 2026
Days on Market:: 118
Last Refresh:: Jul 2 at 5:49 am

Property Features for 1318 Avenue A

General Information

Standard status: Active
Size: 38,930 SF
Property subtype: Multifamily

Building Details

Year Built: 2020

We can help!

Contact an agent

Matt Bean

Listing office Partners

Listing date Mar 12, 2026

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Partners

HighLights

High Occupancy: 97% occupancy rate
Seller Financing: Flexible acquisition structuring available
Improving NOI: Net Operating Income has significantly increased
Modern Construction: Built in 2020, the property offers modern appeal
Ongoing Upgrades: Interior upgrades are underway to enhance durability and support rent growth
Improved Tenant Profile: Leasing quality has improved

Overview

The multifamily asset at 1318 Avenue A, South Houston, TX 77587, constructed in 2020, offers a modern residential opportunity with strong in-place occupancy. The property has a 97% occupancy rate and is undergoing ongoing interior upgrades. Recent operational improvements have led to a significant rise in monthly NOI over the past six months, following the owner's assumption of management responsibilities. This transition included the removal of underperforming tenants and improved leasing quality, demonstrating operational stabilization and an improved tenant profile without sacrificing occupancy. A flooring upgrade program is currently underway, converting units to vinyl flooring upon tenant turnover, with 6 units converted thus far. This phased approach modernizes interiors, enhances durability, and supports continued rent growth with minimal operational disruption. Seller financing is available, offering flexible acquisition structuring and potential interest rate advantages relative to conventional financing. The property size is 38930 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$518.5k	$13.32
− Vacancy	−$49.3k	−$1.27
EGI	$469.3k	$12.05
− OpEx	−$211.2k	−$5.42
NOI	$258.1k	$6.63

38,930 SF · lease $13.32/SF/yr · vacancy 9.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$3.69M

$3.23M – $4.30M (±1% cap)

NOI $258,107 @ 7.0% cap · market cap 5.61%

Second Best

—

no second resolved use

Theoretical Best

Office A

$10.63M

$9.30M – $12.40M (±1% cap)

NOI $744,092 @ 7.0% cap · market cap 16.18%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

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Local Demand

City: South Houston
County: Harris
State: Texas
Longitude: -95.2136239
Latitude: 29.6663756

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For sale
Apartment buildings
TX
South Houston
77587
1318 Avenue A

What type of property is this?

Apartment building - 2020 construction, 97% occupancy, improving operations, seller financing available.

Where is this apartment building located?

The property is located at 1318 Avenue A South Houston, TX.

What is the asking price?

The asking price for this property is $4,600,000.

What are key features of this property?

This property features: High Occupancy: 97% occupancy rate; Seller Financing: Flexible acquisition structuring available; Improving NOI: Net Operating Income has significantly increased