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1318 Avenue A 42 Unit Apartment Building $6,358,810 CAD ($151,400 CAD/Unit) South Houston, TX 77587
Investment Highlights
- Asset - 42-unit multifamily asset built in 2020, offering modern construction with limited near-term capex need
- Value-Add Flooring Upside
- Attractive Risk-Adjusted Upside
- Strong Occupancy & Cash Flow
- Operational Momentum
- All units are equipped with individual water and electricity meters.
Executive Summary
1318 Avenue A is a 2020 construction multifamily asset offering strong in-place occupancy, improving operations, and flexible acquisition terms.
• Occupancy: 93%
• Condition: Modern construction with ongoing interior upgrades
• Management: Recently transitioned to direct owner management
Operational Momentum
Over the past six months, monthly NOI has risen significantly following the owner’s assumption of management responsibilities. During this transition:
• Underperforming tenants were removed
• Leasing quality has improved
• Occupancy remains strong at 93% despite tenant turnover
This demonstrates both operational stabilization and improved tenant profile without sacrificing occupancy — a strong indicator of durable demand and disciplined management.
Capital Improvements
A flooring upgrade program is currently underway:
• Units are being converted to vinyl flooring upon tenant turnover
• 4 units have already been completed
• 6 units will feature vinyl flooring by the end of February
This phased approach modernizes interiors, enhances durability, and supports continued rent growth with minimal operational disruption.
Financing Advantage
Seller financing available, offering flexible acquisition structuring and potential interest rate advantages relative to conventional financing.
• Occupancy: 93%
• Condition: Modern construction with ongoing interior upgrades
• Management: Recently transitioned to direct owner management
Operational Momentum
Over the past six months, monthly NOI has risen significantly following the owner’s assumption of management responsibilities. During this transition:
• Underperforming tenants were removed
• Leasing quality has improved
• Occupancy remains strong at 93% despite tenant turnover
This demonstrates both operational stabilization and improved tenant profile without sacrificing occupancy — a strong indicator of durable demand and disciplined management.
Capital Improvements
A flooring upgrade program is currently underway:
• Units are being converted to vinyl flooring upon tenant turnover
• 4 units have already been completed
• 6 units will feature vinyl flooring by the end of February
This phased approach modernizes interiors, enhances durability, and supports continued rent growth with minimal operational disruption.
Financing Advantage
Seller financing available, offering flexible acquisition structuring and potential interest rate advantages relative to conventional financing.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $6,358,810 CAD | Building Class | B |
| Price Per Unit | $151,400 CAD | Lot Size | 1.29 AC |
| Sale Type | Investment | Building Size | 38,930 SF |
| No. Units | 42 | Average Occupancy | 93% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2020 |
| Apartment Style | Garden | Parking Ratio | 2.57/1,000 SF |
| Price | $6,358,810 CAD |
| Price Per Unit | $151,400 CAD |
| Sale Type | Investment |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.29 AC |
| Building Size | 38,930 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 2020 |
| Parking Ratio | 2.57/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Carpet
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Gated
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 42 | - | 980 |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 0341930000205 | Improvements Assessment | $5,540,097 CAD |
| Land Assessment | $466,088 CAD | Total Assessment | $6,006,185 CAD |
Property Taxes
Parcel Number
0341930000205
Land Assessment
$466,088 CAD
Improvements Assessment
$5,540,097 CAD
Total Assessment
$6,006,185 CAD
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1318 Avenue A
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