26904 Brentwood Rd Splendora, TX 77372-5033

This exceptional 11-unit multifamily property, situated on 2.5 wooded acres in Splendora, Texas, presents a unique investment opportunity. The property, built between 2005 and 2017 and renovated in 2017, comprises eight buildings including six cottages, a main house (approximately 2,400 square feet with 3 bedrooms and 2.5 bathrooms), a warehouse (2,720 square feet with air-conditioned storage), and a recreation/event hall. The property boasts a total of 10,266 square feet of net rentable space, currently vacant and ready for immediate occupancy. Individual electric meters are installed on each building. All furniture and furnishings in the cottages and event hall are included in the sale, along with items necessary for event center operation (tables, chairs, linens). Laundry facilities and linen storage are also on-site. Two dedicated RV storage spaces are available. The property is zoned unrestricted and features city water and septic. The asking price is $949,000, representing a price per unit of $86,272.73 and a price per square foot of $92.44. The pro-forma NOI is $84,110, yielding a pro-forma cap rate of 8.86%. The property's versatile design makes it suitable for various uses, including a bed and breakfast, short-term or long-term rentals, an event center, or a senior living facility. The property's location on a quiet residential dead-end road offers peace and privacy. The property will be delivered vacant at closing.