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7914 Norvic St 11 Unit Apartment Building $1,989,186 CAD ($180,835 CAD/Unit) 7.26% Cap Rate Houston, TX 77029
EXECUTIVE SUMMARY
This 3,400 sq. ft. apartment building with dedicated parking offers stable cash flow and minimal maintenance requirements, with no immediate CAPEX needs. The property is fully leased to rent-stabilized tenants, and the largest unit has been creatively configured into separate rentals, generating additional income.
Currently producing an annualized revenue of approximately $130,000 (pro-forma $142,000), this property has proven to be a consistent income generator. Located in a mixed industrial and residential area just minutes from Downtown Houston and the Houston Ship Channel, it sits within a rapidly developing corridor experiencing strong residential and commercial growth — making it an excellent investment opportunity.
Currently producing an annualized revenue of approximately $130,000 (pro-forma $142,000), this property has proven to be a consistent income generator. Located in a mixed industrial and residential area just minutes from Downtown Houston and the Houston Ship Channel, it sits within a rapidly developing corridor experiencing strong residential and commercial growth — making it an excellent investment opportunity.
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,989,186 CAD | Building Class | C |
| Price Per Unit | $180,835 CAD | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 3,400 SF |
| Cap Rate | 7.26% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1982 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | None - None | ||
| Price | $1,989,186 CAD |
| Price Per Unit | $180,835 CAD |
| Sale Type | Investment |
| Cap Rate | 7.26% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,400 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1982 |
| Parking Ratio | 1.47/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | None - None |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Ceiling Fans
- Kitchen
- Vinyl Flooring
SITE AMENITIES
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | - |
| 1+1 | 3 | - | - |
| 2+1 | 2 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 0292240250004 | Total Assessment | $408,859 CAD (2025) |
| Land Assessment | $59,327 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $349,533 CAD (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
0292240250004
Land Assessment
$59,327 CAD (2025)
Improvements Assessment
$349,533 CAD (2025)
Total Assessment
$408,859 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
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LP Real Estate Holdings
7914 Norvic St
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