6740 Peerless St Houston, TX 77021

Property Details for 6740 Peerless St

Year built

2024

Property size

13,068 SF

Property type

Residential income homes

Description

This exceptional seven-unit, Class A single-family rental portfolio in Houston, Texas, presents a compelling investment opportunity. Built and renovated in 2024, this stabilized portfolio boasts 13,068 square feet across seven three-story buildings, each with 1,277 square feet of net rentable space. The property sits on a 13,068 square foot lot in the desirable 77021 zip code, minutes from the Medical Center, Downtown, and major universities. Six of the seven units are currently leased, reflecting a remarkably low vacancy rate in a rapidly growing area with over 257 homes under development within a quarter-mile radius. An independent appraisal values a comparable unit at $429,000. The portfolio benefits from its proximity to the new 52-acre Levit Green development and the upcoming TMC3 Medical Center expansion, promising significant long-term growth potential. Each unit features modern finishes including engineered hardwood floors, quartz countertops, stainless steel appliances, and shaker cabinets. Primary bedrooms include expansive walk-in closets and luxurious bathrooms. Private driveways and generous backyards add to the appeal. This portfolio offers immediate cash flow with no immediate capital expenditures needed, and the potential for short-term rentals. The 6.15% cap rate makes this a strong investment for both short-term and long-term rental strategies. The permitted zoning is residential.