Multifamily Property for Sale in Houston, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Houston, TX 77017

Description

Marcus & Millichap is pleased to present a fully stabilized, turnkey multifamily asset located in the Meadowbrook/Allendale area of Houston. The property is situated within a quiet residential community supported by strong rental demand and a quality tenant base. Through consistent tenant screening and referral-based leasing, ownership has maintained full occupancy and stable operations. The property consists of 16 total units, including 15 two-bedroom/one-bath units and 1 one-bedroom/one-bath unit. Eight of the two-bedroom units are currently achieving $1,050 per month, demonstrating strong rent levels within the submarket. The remaining units present a clear path to rental upside, as current ownership has already proven the achievable market rents in place. All units have been renovated with modern interior finishes, including granite countertops and ceramic tile flooring throughout. Each unit is also equipped with smoke alarms and fire extinguishers, enhancing tenant safety and operational reliability. While the asset is currently operating at full occupancy, a new investor has the opportunity to further increase revenue by bringing the remaining units to proven market rental rates, implementing a RUBS program to recapture water expenses, and monetizing excess parking through the introduction of reserved parking fees. This offering presents an ideal opportunity for an investor seeking a stable, low-maintenance asset in Houston with both in-place cash flow and additional revenue growth potential. The property combines operational stability with clear and executable strategies to further enhance value. Investment Highlights: • Fully stabilized, cash-flowing asset with a proven history of strong leasing performance. • Newly renovated units featuring granite countertops and ceramic tile flooring, with all units individually metered for electricity and equipped with HVAC systems. • Positioned near quality schools, supporting steady rental demand from stable, long-ter

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.

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