3703 Seabrook St Houston, TX 77021

Property Details for 3703 Seabrook St

Year built

1960

Property size

4,416 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a six-unit apartment building located at 3703 & 3707 Seabrook St, Houston, TX 77021, in Harris County. The property, built in 1960 and renovated in 2021, comprises two one-story buildings totaling 4,416 square feet on a 10,000 square foot lot. Currently boasting 100% occupancy, the property features six units, each with two bedrooms and one bathroom, and six parking spaces. The asking price is $669,900, translating to $158.49 per square foot and $111,650 per unit. The current cap rate is 6.00%, with a pro-forma cap rate of 7.76% and a pro-forma NOI of $52,000. The property is classified as a Class C multifamily investment, specifically a stabilized value-add opportunity. There are no HOA fees and the property is not located in a flood zone. Annual expenses include approximately $6,400 in taxes, $6,000 in insurance, $4,200 in water, and $1,200 for grass cutting. Current lease information shows a range of lease expirations and monthly rents averaging $900 per unit. This property offers significant potential for value enhancement through upgrades and rent increases. The property is ideally suited for an investor seeking a strong return on investment in a growing Houston neighborhood. Serious inquiries only