Auction - Longstreet Apartments - Willis, TX

Description

• •Register to bid and access due diligence documents on RealINSIGHT Marketplace: https://rimarketplace.com/auction/3138 Marcus & Millichap in conjunction with Real Insight Marketplace is pleased to offer for sale a 16-unit multifamily asset located at 214 Longstreet Rd in Willis, Texas. Situated just off I-45 and US-75, the property offers residents immediate access to two of the region's most critical north-south arterials and convenient connectivity to the Greater Houston metro. Built in 1983, the community consists entirely of one-bed/one-bath units averaging 625 SF and is currently 100% occupied, delivering stable, day-one cash flow to a new owner. New ownership has multiple paths to grow income and add value. The previous ownership initiated the installation of new stainless steel appliances, which can be continued on a turn-by-turn basis to capture market-rate rent increases. Implementing a RUBS program for water utilities represents an additional opportunity to recover a material operating expense and improve net operating income without additional CapEx spend. Willis sits within Montgomery County, one of the fastest-growing counties in the United States, with the city's population having grown over 18% since the 2020 census. The submarket benefits from a below-average cost of living, strong household formation, and proximity to the Greater Houston employment base — all factors that continue to drive sustained rental demand. At the metro level, Houston's multifamily fundamentals are improving, with new supply projected to reach its lowest level since 2013, vacancy expected to decline, and rent growth anticipated to rebound in 2026. Overall, this asset offers investors an attractive opportunity to acquire a fully stabilized, operationally simple community with meaningful upside in one of Texas's most consistently growing suburban corridors. Investment Highlights:
• •Auction - May 18-20, 2026 | Starting Bid: $350,000
• •Positioned just off I-45 and US-75 in Willis

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

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