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Portsmouth Portfolio 2 Multifamily Properties in Houston, TX
Investment Highlights
- Attractive Assumable Loan
- Amazing location with easy access to Upper Kirby, Rice University, TX Medical Center and The Museum District
- $106,000 Median Household Income within 1 Mile
Executive Summary
This is an exceptional opportunity to acquire two neighboring boutique multifamily assets—1903 (utilities included) and 1919 Portsmouth—in Houston’s sought-after Montrose neighborhood.
These well-located assets are minutes from Downtown, Midtown, the Texas Medical Center, Museum District, and Upper Kirby, offering amazing connectivity. The median household income is $106,000 within 1 mile! Hard corner location with access + parking on Portsmouth, Hazard & Norfolk.
Great Unit Mix with majority of units spacious 2-bedrooms, averaging ~ 920 SF. Rents are below renovated peers. There is strong upside through operational efficiencies including green energy upgrades such as water saving devices and contract service optimization plus moderate interior and exterior improvements. At today’s basis, the deal is projected to deliver favorable cash on cash returns.
These well-located assets are minutes from Downtown, Midtown, the Texas Medical Center, Museum District, and Upper Kirby, offering amazing connectivity. The median household income is $106,000 within 1 mile! Hard corner location with access + parking on Portsmouth, Hazard & Norfolk.
Great Unit Mix with majority of units spacious 2-bedrooms, averaging ~ 920 SF. Rents are below renovated peers. There is strong upside through operational efficiencies including green energy upgrades such as water saving devices and contract service optimization plus moderate interior and exterior improvements. At today’s basis, the deal is projected to deliver favorable cash on cash returns.
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Property Facts
| Sale Condition | Bulk/Portfolio Sale | Number of Properties | 2 |
| Cap Rate | 7% | Individually For Sale | 2 |
| Sale Type | Investment | Total Building Size | 55,966 SF |
| Status | Active | Total Land Area | 1.18 AC |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 7% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 55,966 SF |
| Total Land Area | 1.18 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
1919 Portsmouth
1919 Portsmouth St, Houston, TX 77098 |
Multifamily | 30,904 SF | 1965 | - |
|
1903 Portsmouth
1903 Portsmouth St, Houston, TX 77098 |
Multifamily | 25,062 SF | 1964 | - |
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