List Search

1609 Castle Ct

Houston, TX 77006

$950,000

Apartments For Sale  •  5,238 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 5,238 Sq Ft
  • Lot Size 0.14 ac
  • Building Class C
  • Year Built 1937
  • Cap Rate 7.00 %
54 Transit Score
70 Walk Score

Description

Rare hard-to- find pride of ownership 6-plex located in an exclusive neighborhood in the heart of the highly desirable Inner Loop 610 area. 100% occupied. Completely renovated. 6 cap on in-place income, 7 cap pro-forma. Upside potential. Central HVAC in four apartments, window units in two apartments. Individual full-size washers and dryers in four apartments.

Cross street: Mandell Street. Minutes from the major employment centers of the Galleria/Uptown, CBD/Downtown, Medical Center and Greenway Plaza. Also minutes from major shopping malls, all four professional sports venues, all four performing arts venues, and an endless choice of exquisite  fine dining establishments. High-demand lot for new home construction. New residential construction currently underway on nearby sites, with many recently built multi-million dollar homes noticeable throughout the neighborhood.

Financial Summary (Actual)

Net Operating Income: $66,500 (2016)
Cap Rate: 7.00 %

Public Transportation

AirportDriveWalkDistance
William P. Hobby Airport 27 min - 16.1 mi
Houston George Bush Intercontinental Airport 30 min - 23.9 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Tony Roubik 713-858-1144 SVN Commercial Real Estate Advisors
Tony Roubik 713-858-1144 SVN Commercial Real Estate Advisors