3300 Yorktown StHouston, TX 77056

For Sale
$3,900,000

34-Unit Condo, 1.13 Acres, Distressed Sale

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 1.13-acre property presents a compelling redevelopment opportunity in Houston's prestigious Galleria area. The site boasts a prime corner location with approximately 200 feet of frontage on both Richmond Avenue and Yorktown Street, offering significant visibility and accessibility. Currently improved with a 34-unit Class B condominium building, this property presents a unique value-add proposition. The existing building is occupied by tenants, providing immediate cash flow potential. The location is highly desirable, situated just 0.7 miles from the Galleria Mall, a major regional shopping destination. The property's 50,470 square foot building sits on a 1.13-acre lot within the Houston Independent School District. High traffic counts are recorded on nearby Richmond Avenue (15,901 VPD) and Chimney Rock Road (25,360 VPD), underscoring the area's strong commercial viability. This distressed sale offers a rare chance to acquire a significant land parcel in a prime Houston location, with the potential for substantial returns. The asking price is $3,900,000, translating to approximately $117,352.94 per unit. This presents a unique opportunity for investors seeking a value-add project in a high-demand area. The property is zoned for commercial and residential use.

Highlights

  • 1.13-acre land parcel with a 50,470 SF Class B condominium building.
  • $3,990,000 asking price.
  • Located in Houston ISD.
  • ±200 feet of frontage on both Richmond Avenue and Yorktown Street.
  • High traffic counts: 15,901 VPD on Richmond Ave and 25,360 VPD on Chimney Rock Rd.

Property Details for 3300 Yorktown St

Property type
Multifamily properties, Other land
Class
B
Lot Size (sq. ft)
49,223 SF
Units
34

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7311994
Longitude
-95.4713098
3300 Yorktown St, Houston, Texas

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3300 Yorktown St
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