Property Listing No Longer Available for Sale

1529 Bonnie Brae Street, Houston, TX

Multi-family for Sale - $975,000 - 5,376 Sq. Ft. on 0.14 acres


Property Info

CIMLS#849301
Location
  1529 Bonnie Brae Street
  Houston TX 77006
UpdatedFebruary 12th, 2016
TypeMulti-family
Price$975,000
Building5,376 Sq. Ft.
Land0.14 acres

Property Description

Rare hard-to-find 6-plex located in an exclusive neighborhood in the heart of the highly desirable Inner Loop 610 area. 100% occupied. Completely renovated. 6 cap on in-place income, 7 cap pro-forma. Upside potential. Central HVAC. Central laundry. Minutes from the major employment centers of the Galleria/Uptown, CBD/Downtown, Medical Center and Greenway Plaza. Also minutes from major shopping malls, all four professional sports venues, all four performing arts venues, and an endless choice of exquisite fine dining establishments. High-demand lot for new home construction. New construction currently underway on adjacent lot to west. Surrounded by recent million-dollar-plus new construction.

Location Description:

Exclusive neighborhood located in the heart of the most desirable Inner Loop 610 area minutes from the major employment centers of the Galleria/Uptown, CBD/Downtown, Medical Center and Greenway Plaza. Also minutes from major shopping malls, all four professional sports venues, all four performing arts venues, and an endless choice of exquisite fine dining establishments.

Highlights:

>> Rare hard-to-find 6-plex

>> 100% occupied

>> 6 cap on in-place income, 7 cap pro-forma

>> Upside potential

>> All units have ground floor entry and patios

>> Central HVAC

>> Central laundry

>> Completely renovated

>> Located in exclusive neighborhood, directly across from highly desirable Mandell Park

>> Within comfortable walking distance of the Menil Museum

>> Minutes to major employment centers of Galleria/Uptown, CBD/Downtown & Medical Center

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Financials

Cash

Sales Info:

>> Cap rate: 7.0%

>> Commision split: 50.0%

>> NOI: $68424