618 E 40th St #5, Houston, TX 77022

4,200 Sqft. ($208/Sqft.)

9,000 Lot Sqft

Multi-Family - 5 Plus

1 Day(s) on Market

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Description

Welcome to your next investment. Located in the vibrant and rapidly evolving Independence Heights neighborhood of Houston, this impressive 5-unit apartment complex offers a unique and rare opportunity for an investor to add a turnkey-cash-flowing property to their portfolio. Located less than 10 min from Downtown Houston, this property benefits from the neighborhood's burgeoning growth and revitalization. Independence Heights is renowned for its blend of historic charm and modern development with new construction on almost every street. Each of the five units has been thoughtfully designed to maximize space and comfort. The project has completed a full gut remodel in 2023 with new MEP's, new floors, energy-efficient windows, tankless water heaters, stainless steel appliances, and new roof. Each unit also comes standard with a washer/dryer. Seller will pay for a new resurfaced asphalt driveway upon sale.

MLS#

81471658

List Price

$875,000 ($208/Sqft.)

Listing Status

For Sale

Address

618 E 40th St #5

Unit No.

City

Houston

State

Zip Code

77022

County

Harris County

Subdivision

Independence Heights School (View subdivision price trend)

Legal Description

LTS 25 26 & 27 BLK 59 INDEPENDENCE HEIGHTS SCHOOL

Property Type

Multi-Family - 5 Plus

Stories

Building Size

4,200 Sqft/Appraisal District

Year Built

1972 /Appraisal District

Lot Size

9,000 Sqft./Appraisal District

Key Map©

453N

Market Area

Northwest Houston

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PRESENTED BY

Michael Lopez Platinum

eXp Realty LLC

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Exterior

Roof

Composition

Exterior Type

Brick, Cement Board

Lot Description

Other

Parking Unit

One

Interior

Floors

Concrete

Cooling

Central Electric

Heating

Central Electric

Dishwasher

Disposal

Yes

Microwave

Yes

Energy Feature

Ceiling Fans, Energy Star Appliances, Energy Star/CFL/LED Lights, Insulation - Blown Fiberglass, Insulated/Low-E windows, Tankless/On-Demand H2O Heater, Digital Program Thermostat

Lot information

Lot Size

9,000 Sqft. /Appraisal District

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Disclaimer: Lot configuration and dimensions are estimates, not based on personal knowledge and come from a third party (Digital Map Products); therefore, you should not rely on the estimates and perform independent confirmation as to their accuracy

Financial

Financing Considered

Cash Sale, Conventional, Investor, Owner Financing

Other Fees

Maintenance Fee

Taxes w/o Exemp

$5,607/2023

Tax Rate

2.0148

Additional information

List Type

Exclusive Agency to Sell/Lease

Unit Feature

Fenced Area

Buyer Agent Compensation*

Sub Agent Compensation*

*Disclaimer: Listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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Cost/Sqft based on tax value

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Down Payment Assistance

This property may be eligible for 10 programs and up to $41,562 in down payment assistance. See More →

Mortgage

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LIST PRICE

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Listing Tax	Numbers
Principal & Interest	2,841
Taxes	1,242

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Subdivision Facts

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Market update video

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Schools

School information is computer generated and may not be accurate or current. Buyer must independently verify and confirm enrollment. Please contact the school district to determine the schools to which this property is zoned.