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11111 Wiggins St
Houston, TX 77029
Multifamily Property For Sale
·
12 Units
Investment Highlights
- High occupancy with long term tenants
- Room for significant rent improvement
- Solid exterior contstruction
Executive Summary
This 12-unit apartment complex in Jacinto City offers a strong investment opportunity with immediate cash flow and upside potential. Currently 90%+ occupied, the property benefits from a stable tenant base, including many long-term residents. At current rental rates, the asset is delivering a 12%+ CAP rate, making it attractive for yield-focused investors. All leases are written as monthly leases, so all tenants are month to month.
Recent capital improvements include new electrical panels installed in all units in 2023, reducing near-term maintenance concerns. The property presents additional upside through rental increases, particularly with potential conversion to Section 8 housing.
Tenants enjoy convenient access to public transportation, grocery stores, and nearby dining options. The complex also features dedicated on-site parking with 14 spaces accessible from Wiggins Street. This is a turnkey asset with both stability and value-add potential in a high-demand rental area.
Recent capital improvements include new electrical panels installed in all units in 2023, reducing near-term maintenance concerns. The property presents additional upside through rental increases, particularly with potential conversion to Section 8 housing.
Tenants enjoy convenient access to public transportation, grocery stores, and nearby dining options. The complex also features dedicated on-site parking with 14 spaces accessible from Wiggins Street. This is a turnkey asset with both stability and value-add potential in a high-demand rental area.
Property Facts Under Contract
| Price Per Unit | $65,370 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 13.30% | Building Size | 6,652 SF |
| Sale Condition | Deferred Maintenance | Average Occupancy | 92% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 2.1/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | Industrial | ||
| Price Per Unit | $65,370 CAD |
| Sale Type | Investment |
| Cap Rate | 13.30% |
| Sale Condition | Deferred Maintenance |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 6,652 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 2.1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Industrial |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,228 CAD | 400 |
Property Taxes
| Parcel Number | 0552220000025 | Improvements Assessment | $562,630 CAD |
| Land Assessment | $146,866 CAD | Total Assessment | $709,496 CAD |
Property Taxes
Parcel Number
0552220000025
Land Assessment
$146,866 CAD
Improvements Assessment
$562,630 CAD
Total Assessment
$709,496 CAD
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