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933 Harbor 15 Unit Apartment Building $1,632,476 CAD ($108,832 CAD/Unit) 6.84% Cap Rate Houston, TX 77020
Executive Summary
933 Harbor St is a 15-unit multifamily property offered fully vacant, providing a clean value-add opportunity in Houston’s Denver Harbor area. The property requires renovation and is ideal for an investor looking to execute a straightforward rehab and lease-up.
With no existing tenants, a new owner can renovate and lease units at current market rents without dealing with legacy leases or phased turnover. This allows for a faster path to stabilization and full operational control from day one.
The unit mix is primarily 1-bedroom units, supporting consistent leasing demand and a repeatable renovation strategy.
This is a simple, execution-driven deal: renovate, lease, and stabilize at market rents.
With no existing tenants, a new owner can renovate and lease units at current market rents without dealing with legacy leases or phased turnover. This allows for a faster path to stabilization and full operational control from day one.
The unit mix is primarily 1-bedroom units, supporting consistent leasing demand and a repeatable renovation strategy.
This is a simple, execution-driven deal: renovate, lease, and stabilize at market rents.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$228,566
|
$18.30
|
| Other Income |
$8,571
|
$0.69
|
| Vacancy Loss |
$11,428
|
$0.91
|
| Effective Gross Income |
$225,709
|
$18.07
|
| Taxes |
$29,367
|
$2.35
|
| Operating Expenses |
$84,263
|
$6.75
|
| Total Expenses |
$113,630
|
$9.10
|
| Net Operating Income |
$112,079
|
$8.97
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $228,566 |
| Annual Per SF | $18.30 |
| Other Income (CAD) | |
|---|---|
| Annual | $8,571 |
| Annual Per SF | $0.69 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $11,428 |
| Annual Per SF | $0.91 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $225,709 |
| Annual Per SF | $18.07 |
| Taxes (CAD) | |
|---|---|
| Annual | $29,367 |
| Annual Per SF | $2.35 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $84,263 |
| Annual Per SF | $6.75 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $113,630 |
| Annual Per SF | $9.10 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $112,079 |
| Annual Per SF | $8.97 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | - | - |
| 2+1 | 3 | - | - |
| 4+1 | 1 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 0181570000019 | Total Assessment | $1,400,933 CAD (2025) |
| Land Assessment | $95,060 CAD (2025) | Annual Taxes | $29,367 CAD ($2.35 CAD/SF) |
| Improvements Assessment | $1,305,873 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
0181570000019
Land Assessment
$95,060 CAD (2025)
Improvements Assessment
$1,305,873 CAD (2025)
Total Assessment
$1,400,933 CAD (2025)
Annual Taxes
$29,367 CAD ($2.35 CAD/SF)
Tax Year
2026
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933 Harbor
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