Feast your eyes on this captivating property in the heart of Houston, Texas that brims with potential while providing an instant revenue stream. Please note, this is a tenant-occupied dwelling located at 7915 Ithaca St, including 7913 Ithaca St., therefore it is requested not to disturb the residents.
This remarkable property entails two units: a front duplex and a back 4-plex. The front duplex consists of a spacious 2-bedroom, 1-bath unit along with a cozy 1-bed, 1-bath unit. The rear 4-plex features a 2-bedroom unit with 1.5 baths, plus three 1-bedroom units each with a full bath. Every unit comes equipped with its own electric and water meter, with utilities being covered by the tenants.
Positioned in thriving SE Houston near Gulfgate Mall, the property is not only conveniently nestled amidst dining, entertainment, and service venues, but it's also just a stone's throw away from I-45 and 610 Loop, plus bus lines. This prime location caters to the surge in population in Houston's outlying areas, ensuring these units witness high occupancy rates and rarely remain vacant for long.
Current monthly income stands at $5,081, with plans to amplify the rent with the expiration of the existing leases. Current rents for the 2-bedroom units enfold between $920-$1,075 per month, while the 1-bedroom units command $700-$815 per month. These rates are predicted to rise as these figures are significantly below the area's market rents, pointing to an advantageous future yield.
Apart from its appealing income potential, the uniqueness of this property lies in its intimate duplex/4-plex setup, which creates a more amenable living environment than larger apartment projects, thus adding substantial appeal for potential tenants.
Cherry on the top, the property comes with an attractive option for short-term owner financing, contingent upon qualifying. This is undeniably a brilliant prospect for those looking to augment their investment portfolio with a performing asset that promises promising returns.
Dive into the flourishing Houston real estate market and seize the opportunity to own this income-producing gem. Act fast - this opportunity is primed for investment and won't linger for long!
