Contempto Apartments 2508 Southmore Blvd 20 Unit Apartment Building $3,823,894 CAD ($191,195 CAD/Unit) 6% Cap Rate Houston, TX 77004

Contempo Apartments is a renovated 20-unit multifamily investment opportunity located along Southmore Blvd. in Houston’s rapidly evolving East End Houston submarket, positioned between the Texas Medical Center, Museum District, University of Houston, and Downtown Houston corridors. The property consists of three buildings totaling approximately 15,396 SF on 0.66 acres and includes sixteen one-bedroom units and four two-bedroom units.
Originally constructed in 1935 and 1965, the asset has undergone substantial renovations and capital improvements over the past decade, with ownership investing approximately $1.7 million into both interior upgrades and major building systems. Improvements include significant plumbing, electrical, roofing, structural, HVAC, fire sprinkler, landscaping, and interior renovation work, helping reduce near-term capital expenditure exposure for future ownership. The property is currently fully leased with strong in-place cash flow and is being marketed primarily as a stabilized, in-place investment opportunity rather than a heavy value-add story.
What makes Contempo Apartments particularly compelling is the combination of stabilization, infrastructure investment, and location within one of Houston’s most institutionally anchored urban corridors. The property is located approximately 1.2 miles from the Houston Museum of Natural Science, 1.7 miles from University of Houston, 2.2 miles from the Texas Medical Center, and approximately 3.5 miles from Downtown Houston and Daikin Park. Residents benefit from immediate access to healthcare, education, employment, and entertainment destinations, while investors benefit from durable renter demand supported by the surrounding Medical Center, university, and urban employment base. The asset’s approachable size and renovated condition position it well for private investors and 1031 exchange buyers seeking a quality multifamily opportunity inside Loop 610.