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$ 900,000
Est. payment /mo
Active
212 Quaker Dr Friendswood, TX 77546-4100
12 Beds
12 Baths
6,600 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,600 sqft
Price per Sqft $136
Bedrooms 12
Full Baths 12
Property Description
**Prime Multifamily Investment Opportunity in Sought-After Location**
**Property Overview:**
Seize the chance to own a well-maintained multifamily property, ideally situated on a spacious 1-acre lot. This property features six individual units, each offering approximately 1,100 square feet of living space, with 2 bedrooms and 2 full bathrooms per unit. The city has also approved the construction of an additional unit, adding to the investment potential.
**Tenant-Paid Utilities:**
Tenants are responsible for all utilities, including water, gas, and electricity, significantly reducing the landlord's recurring expenses.
6-Plex Financial Summary
Annual Gross Rent:
Current Annual Gross Rent: $78,600
Potential Annual Gross Rent (after re-renting two units at market rate): $113,400
Unit B3 (currently manager-occupied, previously rented): $1,450/month
Unit A1 (current tenant on month-to-month lease, planned non-renewal): $1,450/month
Potential increase from Unit B1 (currently $1,300/month on month-to-month lease) if re-rented.
Expenses:
Property Taxes: $8,000/year
Property Insurance: $3,900/year (fire & liability)
Maintenance Costs: $1,000 to $5,000/year (self-mowed, no additional mowing costs currently)
Recent Large Expenditures (non-recurring):
Two air conditioning replacements
Sewage line repair (A1)
Natural gas line replacement (B building)
Hurricane debris removal (Hurricane Beryl)
Future Considerations:
Roof replacement needed due to age
Gutters and fascia should be replaced
Additional Notes:
New owners may benefit from improved cash flow due to depreciation.
**Property Overview:**
Seize the chance to own a well-maintained multifamily property, ideally situated on a spacious 1-acre lot. This property features six individual units, each offering approximately 1,100 square feet of living space, with 2 bedrooms and 2 full bathrooms per unit. The city has also approved the construction of an additional unit, adding to the investment potential.
**Tenant-Paid Utilities:**
Tenants are responsible for all utilities, including water, gas, and electricity, significantly reducing the landlord's recurring expenses.
6-Plex Financial Summary
Annual Gross Rent:
Current Annual Gross Rent: $78,600
Potential Annual Gross Rent (after re-renting two units at market rate): $113,400
Unit B3 (currently manager-occupied, previously rented): $1,450/month
Unit A1 (current tenant on month-to-month lease, planned non-renewal): $1,450/month
Potential increase from Unit B1 (currently $1,300/month on month-to-month lease) if re-rented.
Expenses:
Property Taxes: $8,000/year
Property Insurance: $3,900/year (fire & liability)
Maintenance Costs: $1,000 to $5,000/year (self-mowed, no additional mowing costs currently)
Recent Large Expenditures (non-recurring):
Two air conditioning replacements
Sewage line repair (A1)
Natural gas line replacement (B building)
Hurricane debris removal (Hurricane Beryl)
Future Considerations:
Roof replacement needed due to age
Gutters and fascia should be replaced
Additional Notes:
New owners may benefit from improved cash flow due to depreciation.
Location
State TX
County Galveston
Listed by Jonathan Davis • Texas
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