SoldMar 30, 2022

Listed by Chris Bounds

116 Frawley St, Houston, TX, 77009

Amount undisclosed

2
1
2483 sq. ft.
5250 sq. ft.

MultiFam

Sold: Mar 30, 2022

What's around 116 Frawley St

About this property

Add this 4-plex to your rental portfolio! The home is a 2 bed / 1 bath with three 1 bed / 1 bath garage apartments. The house rents for $1, 100 and the garage units are $750, $750, $725 - for a combined $3, 325 gross rent. Tenants are currently on month-to-month leases. The house and garage have separate electric meters. The house tenant pays electric and owner pays electric for garage units plus all water & gas, about $575/mo. There is opportunity to bill back utility costs to the tenants to increase cash flow and bring projected IRR to over 15%. Or set it up as a short-term rental for even more revenue. Total sqft is estimated with each apartment about 400sqft. Update: two garage units became available in February and are pending make-ready for leasing.

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