2819 Berry St Houston, TX 77004

Property Details for 2819 Berry St

Year built

1947

Property type

Apartment buildings

Description

This 12-unit apartment building, located at 2819 Berry St, Houston, TX 77004 (APN 0192020030007), presents a compelling investment opportunity. Built in 1947 and extensively renovated in 2021, the property boasts 9,226 square feet across two stories. All twelve units are two-bedroom, one-bathroom apartments, offering strong marketability. Recent renovations include updated electrical panels and wiring, a repaved parking lot, fresh exterior paint, and landscaping improvements. The property currently generates $10,429 in monthly income, with potential to reach $12,960 monthly by increasing rents to market rates ($850 for older tenants, $1030+ for newer tenants). Projected annual income is $156,716, with annual expenses estimated at $68,257, resulting in a projected net annual income of $88,459. This translates to a pro-forma cap rate of 9%, significantly higher than the current 6% cap rate. The property's location, just two miles from downtown Houston, offers excellent appreciation potential, particularly given its proximity to major employers and its designation as an Opportunity Zone, providing potential tax advantages for investors. The asking price is $899,999, or $74,999.92 per unit. This is a rare chance to acquire a stable, value-add multifamily property in a thriving Houston market.