3815 Fannin St, Unit 14 Houston, TX 77004-3917
- Residential income homes
- 3,174 SF
- 0.11 lot acres
Current Use by Public Records
- kitty killaz / Casino
Property Details for 3815 Fannin St
- Year built
- 1930
- Construction
- WOOD FRAME
- Lot size
- 0.11 lot acres
- Property size
- 3,174 SF
- Property type
- Residential income homes
- Property subtype
- Serviced apartments
- APN
- 130720000018
- APU
- 130720000018
Description
This exceptional 15-unit apartment building, located at 3815 Fannin Street in Houston, Texas, presents a compelling investment opportunity. Priced at $850,000, this Class C multifamily property boasts significant recent renovations completed within the last 3-5 years. Extensive upgrades include a completely new roof, siding, windows (all 34 replaced), and exterior paint. The interior has also undergone substantial improvements, with most rooms remodeled, new electric baseboard heating units (compliant with city code), updated plumbing (including toilets replaced within the last two years), and a recently replaced hot water heater. The property benefits from an occupancy permit issued a couple of years ago, ensuring compliance with current city codes. Currently, the building features below-market rents, presenting a clear value-add opportunity for increased profitability through minor upgrades to common kitchens, hallway flooring, and bathrooms. The tenant profile consists primarily of working-class individuals employed in the surrounding area, with most tenants having occupied their units for five years or more. The property's location less than half a mile from Rice University's Ion Technology Hub further enhances its desirability and potential for future appreciation. The owner prefers month-to-month leases, a common practice for this type of property. This turnkey operation offers immediate cash flow and significant upside potential in a rapidly developing area of Houston. The property includes a carport. This is a rare opportunity to acquire a well-maintained, updated multifamily property in a prime Houston location.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $255,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $313,000
Market price range: $202k - $350k
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Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Harris
- State
- Texas
- Longitude
- -95.3792
- Latitude
- 29.7368
- CBSA code
- 26420
- CBSA name
- HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA
