412 8th St 1 South Houston, TX 77587-3504

This exceptional mixed-use property in South Houston, Texas, presents a compelling value-add investment opportunity. Located at 412 N 8th St, 77587, this property encompasses 3,123 square feet on a 7,190 square foot lot and includes three buildings with two stories. The property features a restaurant space, two smaller commercial units, and two residential rental units. Unit 3, a 2-bedroom, 1-bathroom apartment, is currently leased. Unit 2, a 1-bedroom, 1-bathroom apartment, is vacant, offering owner-occupancy potential. Built in 1945 and renovated in 2024, the property boasts a current NOI of $49,500, with a pro-forma NOI of $58,223, reflecting a 9.08% cap rate and a pro-forma cap rate of 10.68%. The asking price is $545,000 ($184.12/sq ft). The current occupancy is 70%, presenting a significant opportunity to increase cash flow by leasing the vacant apartment and the smaller commercial units upon the restaurant lease expiration this year. The property is situated in a non-flooding zone. This five-unit property offers a blend of commercial and residential income streams, making it an attractive investment for owner-users seeking a high return on investment. Detailed financial information is available upon request. Please do not disturb tenants.