Multifamily Property for Sale in Houston, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Houston, TX 77006

Description

Marcus & Millichap is pleased to present a stabilized multifamily asset located in one of Houston's most desirable submarkets, Montrose. The property features 20 one-bedroom, one-bathroom units, each offering spacious layouts and walk-in closets. 16 of the 20 units have already been fully renovated, giving a new owner the opportunity to apply the same upgrade package to the remaining four units and capture additional rent premiums. Recent improvements include quartz countertops, updated appliances, and durable slate flooring throughout. Current ownership has already implemented a comprehensive RUBS program, along with additional income streams from pet fees, laundry, and storage. This structure allows a new investor to step into existing ancillary revenue without the operational challenges of introducing new charges to an established tenant base. There is additional value-add potential for a new investor, as each unit includes two walk-in closets, one of which can easily be converted to accommodate washer and dryer connections. This allows for the addition of in-unit laundry across all units, creating an opportunity to capture further rental premiums. The community offers several on-site amenities , including 6 storage facilities, a laundry room, and a swimming pool. These features enhance the resident experience and support strong tenant retention. Strategically positioned in the highly sought-after Montrose neighborhood, the property offers immediate access to Houston's major employment and cultural centers, including downtown, the Medical Center, and nearby institutions such as the University of St. Thomas, Rice University, and the University of Houston. This offering represents a rare opportunity to acquire a renovated, income-producing asset in one of Houston's strongest and most resilient rental markets. Investment Highlights: • Stabilized asset in one of Houston's most prime submarkets. • 16 of the 20 units have been fully renovated, featuring quartz counter

Market Context

This multifamily in Houston, TX is listed for sale. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Houston, TX — <a href="/search/sale/multifamily/texas/houston">view the full market</a>.

As of Q1 2026, the Houston multifamily market showed average asking rents near $1400.00/unit/mo, rents up 9.2% year over year, and cap rates around 4.8%. Source: Consensus Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Houston?
About 4.8% as of Q1 2026, per Consensus.

Contact

Explore this market

Similar Multifamily Property for Sale in Houston, TX