Current Use by Public Records
- Residential income homes
Property Details for 807 Avenue J Pl
- Year built
- 2023
- Property type
- Residential income homes
Description
This exceptional two-unit, Class A multifamily property in Conroe, Texas, presents a compelling investment opportunity. Built in 2023, this 1,800 square foot duplex sits on a 10,000 square foot lot and boasts 100% occupancy with two-year leases in place (signed February 14, 2024). Each unit features 3 bedrooms and 2.5 bathrooms, offering ample living space. The property includes appliances (refrigerator, stove, and microwave) and is pet-friendly. Located near I-45, this prime location offers easy access to local amenities, parks, and attractions. The current Net Operating Income (NOI) is $3,500, resulting in a 0.65% cap rate, with a price per unit of $270,000 and an asking price of $540,000. The property is zoned for residential use. The seller will contribute to closing costs. This is a turnkey investment with strong potential for future appreciation and rental income increases. The property is offered at $300 per square foot. This is a rare opportunity to acquire a high-quality, fully occupied multifamily asset in a desirable Texas market. The units are currently generating approximately $2,000 per month in rent per unit, with potential for increased rent upon lease renewal.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Conroe
- County
- Montgomery
- State
- Texas
- Longitude
- -95.4452
- Latitude
- 30.3065
