7721 Sherman Street

    Houston, TX 77012
    • $260,000
    • STATUS: Active
    • ON SITE: 28 days
    • MLS #: 79003387
    UPDATED: 76 min ago
    $260,000
    • 6
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,200
      SQFT
    • $81
      $/SQFT
    Neighborhood:
    4
    Type:
    Multi-Family
    Built:
    1930
    County:
    Area:
    4

    School Information

    Middle School:
    High School:
    School District:

    Description

    DID NOT FLOOD*. Priced under market value to sell quickly AS-IS. Investors, landlords, do-it-yourself-ers. Investor/Landlord special. All 6 units are 1bed /1bath . 100% Tenant occupied. 4 tenants are long term and are paying $565/month. Two newer tenants are paying $700 and $650.Older tenants have agreed for rent increase from May 1st to $650.Current leased rates gross income is $43,320 and Net operating income is $27,980.11 cap rate. May 2019 on wards gross rents will be $46,000.Roof replaced in 2016 and all exterior painted and siding replaced last year. Two kitchens are updated.SOLD AS -IS, Fully rented and livable but its an old building and can use some TLC.Foundation work is required.

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    © 2019 Houston Realtors Information Service, Inc. All rights reserved. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2019-03-19T22:12:21.07.
    www.texashomeshoprealty.com/homes/91938769

    7721 Sherman Street Houston, TX 77012

    • Price: $260,000
    • Status: Active
    • Updated: 76 min ago
    • MLS #: 79003387
    6
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    Acres
    3,200
    SQFT
    $81
    $/SQFT
    1930
    Built
    Neighborhood:
    4
    County:
    Harris
    Area:
    4
    Elementary School:
    Gallegos Elementary School (Houston)
    Middle School:
    Edison Middle School
    High School:
    Milby High School
    School District:
    Houston
    Property Description
    DID NOT FLOOD*. Priced under market value to sell quickly AS-IS. Investors, landlords, do-it-yourself-ers. Investor/Landlord special. All 6 units are 1bed /1bath . 100% Tenant occupied. 4 tenants are long term and are paying $565/month. Two newer tenants are paying $700 and $650.Older tenants have agreed for rent increase from May 1st to $650.Current leased rates gross income is $43,320 and Net operating income is $27,980.11 cap rate. May 2019 on wards gross rents will be $46,000.Roof replaced in 2016 and all exterior painted and siding replaced last year. Two kitchens are updated.SOLD AS -IS, Fully rented and livable but its an old building and can use some TLC.Foundation work is required.
    Exterior Features

    Parking Per Unit One Roof Composition Siding Vinyl

    Interior Features

    Cool System Window Units Floors CarpetLaminateVinyl Heat System Space Heater Range Yes Refrigerator Yes

    Property Features

    Contract Type 1 - 4 Family Residential Country United States Disclosures No Disclosures Expense Operating 15340 Expense Owner Operating ElectricGasInsuranceMaintenance/RepairWater/Sewer Fee Other No Finance Available Cash SaleInvestor Income Gross 43320 Income Gross Operating 43320 Income Net Operating 27980 Lot Size Source Appraisal District Lot Value No Maintenance Fee Yes No No Management Co YN No Misc Features Fire/Smoke Alarm New Construction No Property Sub Type 5 Plus Restrictions None Sq Ft Source Seller Subdivision Magnolia Park Sec 02 Tax Amount 2320 Tax Rate 77450 Tax Year 2018 Utilities ElectricGasWater Year Built Src Appraisal

    Listing information © 2019 Houston Association of REALTORS® MLS.
    Listing courtesy of Nb Elite Realty.

    © 2019 Houston Realtors Information Service, Inc. All rights reserved. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2019-03-19T22:12:21.07.
     
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