3025 Prospect St Houston, TX 77004

Property Details for 3025 Prospect St

Year built

1950

Lot size

0.60 lot acres

Property size

4,560 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a fully leased, eight-unit apartment building situated on a 0.6-acre lot in Houston, Texas. The property, comprised of two, two-story, four-plex buildings, boasts a total of 4,560 square feet and features 570 square feet per unit. Completely renovated in 2018, each unit showcases modern upgrades including luxury vinyl wood flooring, quartz countertops, and energy-efficient windows. Kitchens and bathrooms are fully updated with new appliances. Each unit is equipped with a refrigerator, washer, and dryer. Desirable amenities such as dishwashers, disposals, and microwaves are included. The property enjoys 100% occupancy and commands a price per unit of $1,120, resulting in a total asking price of $1,650,000. The property is zoned for residential multi-family use and offers seven parking spaces. Its prime location near major highways (Hwy 288, Hwy 610, I-10, Hwy 45, and Hwy 59) provides easy access to Downtown Houston, the Texas Medical Center, the University of Houston, and the Museum District. Public transportation is readily available, with a Metro Bus stop within close proximity. The surrounding area boasts a population of 25,000 within a one-mile radius and an average household income of $65,765. This stabilized Class B property offers a compelling return on investment in a high-demand location. The property's APN is 0610840070010. Built in 1950, this smoke-free property is a low-maintenance investment opportunity.