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    23431 Mcspadon Rd Porter, TX 77365

    For Sale
    Contact for pricing

    29-Unit Apartment Building, High Occupancy

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 29-unit multifamily property in Porter, Texas presents a compelling investment opportunity. Boasting a 6.00% capitalization rate and 100% occupancy, this new construction offers immediate cash flow. Situated on a spacious 3.58-acre lot, the two-story building features individually metered utilities, simplifying management and maximizing efficiency. The property benefits from unique triple net style leases, ensuring consistent income and minimizing landlord responsibilities. Long-term tenants are currently in place, providing stability and predictable returns. Below-market rents offer significant upside potential for future income growth. Conveniently located near Highway 59 and Grand Parkway 99, this property enjoys easy access to major transportation routes. Its proximity to multiple schools adds to its appeal. Furthermore, the property is situated outside all designated flood zones, mitigating risk. The Net Operating Income (NOI) is a substantial $415,904. This turnkey investment is ready for an immediate return. Don't miss this chance to acquire a high-performing, well-maintained multifamily asset in a desirable location.

    Property Features for 23431 Mcspadon Rd

    General Information

    Property type
    Multifamily properties
    Lot Size
    155,945 SF

    Building Details

    Stories
    2
    Units
    29

    HighLights

    • $415,904 Net Operating Income (NOI)
    • 29 Total Units
    • 3.58‑acre lot size
    • 100% Occupancy with below‑market rents
    • New construction with individually metered utilities and triple‑net leases
    • Excellent location with easy access to Hwy 59 and Grand Parkway 99, near schools, and outside flood zones.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Porter
    County
    Montgomery
    State
    Texas
    Longitude
    -95.2311246
    Latitude
    30.0937955

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    FAQs

    What type of property is this?
    Multifamily property - 29-Unit Apartment Building, High Occupancy
    Where is this multifamily property located?
    The property is located at 23431 Mcspadon Rd Porter, TX.
    What are key features of this property?
    This property features: $415,904 Net Operating Income (NOI); 29 Total Units; 3.58-acre lot size
    Request Owner's contact information
    23431 Mcspadon Rd Porter, TX 77365
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    Porter, TX 77365
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23431 Mcspadon Rd Porter, TX 77365
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