14514 Gainesville St, Unit 5 Houston, TX 77015-3168

Property Details for 14514 Gainesville St

Year built

1980

Construction

CONCRETE BLOCKS

Lot size

0.13 lot acres

Property size

2,592 SF

Property type

Apartment buildings

APN

630450410008

APU

630450410008

Description

This exceptional investment opportunity presents a four-unit multifamily property located at 14514 Gainesville St, Houston, TX 77015. The property consists of two single-story buildings totaling 3,153 square feet on a 5,500 square foot lot. The unit mix includes three two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit. Currently operating at 75% occupancy, this property offers significant value-add potential. Individual electric and gas meters are installed, with a master water meter. Tenants are responsible for their utilities. Each unit includes dedicated parking. Window air conditioning units are currently in place. The property was built in 1980 and is classified as Class C. The asking price is $190,000, representing $47,500 per unit and $60.26 per square foot. Owner financing is available at 8.5% interest with a 20% down payment, a five-year balloon payment, and no prepayment penalty. The property benefits from strong rental demand in a rapidly improving area with diverse employment opportunities, promising significant future equity appreciation and relatively low maintenance costs. Showings require a 24-48 hour notice and proof of funds or a pre-approval letter. This is a rare opportunity to acquire a well-located, value-add multifamily property in a growing Houston neighborhood.