3643 Macgregor Way Houston, TX 77004

Property Details for 3643 Macgregor Way

Property type

Apartment buildings

Description

This exceptional 40-unit apartment complex presents a compelling investment opportunity in Houston, Texas. Located at 3643 N MacGregor Way, 77004, this property enjoys a prime location near the University of Houston and Texas Southern University, ensuring consistently high occupancy rates. The complex underwent a complete renovation in 2021, resulting in a property in excellent condition with currently 85% occupancy. The 29,068 square foot building comprises 28 two-bedroom and 12 three-bedroom units, each featuring modern interiors, central heating and cooling, energy-efficient windows, and a full appliance package. Individual electric meters for each unit contribute to cost efficiency for both tenants and the owner. The property's proximity to major transportation routes, Hermann Park, and the Museum District attracts a diverse tenant base of students and professionals. Further enhancing its profitability, a Ratio Utility Billing System (RUBS) is being implemented, shifting utility costs to tenants and increasing net operating income. This value-add opportunity offers investors a chance to acquire a well-maintained, high-demand property with significant potential for long-term appreciation and steady cash flow. The asking price for this turnkey investment is $5,000,000.