2719 Canfield StHouston, TX 77004

For Sale
Call for price

10-unit Houston redevelopment opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 10-unit multifamily property, located at 2719 Canfield St, Houston, TX 77004, presents a compelling redevelopment opportunity in a rapidly growing area. The property, encompassing 25,000 square feet on a 25,000 square foot lot, consists of ten single-family rental units, currently boasting 100% occupancy as of July 29, 2023. Built in 1930 and renovated in 2019, the property features a total of 7,304 net rentable square feet, spread across ten single-story buildings. The current Net Operating Income (NOI) stands at $90,000. Zoned for commercial use, this property offers significant potential for value-add improvements or complete redevelopment. Its prime location near the University of Houston ensures consistent tenant demand, while the surrounding area's ongoing development promises substantial long-term appreciation. The land value is assessed at $70 per square foot. This investment presents a unique chance to capitalize on the vibrant Houston market and its burgeoning student housing and commercial sectors. The Harris County property, with APN 0171450000006, offers a diverse range of investment strategies, from maximizing rental income to undertaking a complete redevelopment project. This is a Class C property with significant upside potential.

Highlights

  • 1. Prime Houston location near the University of Houston, offering easy access to major highways, shopping, entertainment, and public transportation.
  • 2. Rapidly revitalizing area with significant ongoing infrastructure and commercial development, promising strong appreciation potential.
  • 3. Multiple investment options: maintain current rental income or pursue redevelopment for higher returns.
  • 4. Vibrant, culturally rich neighborhood creating a desirable living environment.

Property Details for 2719 Canfield St

Property type
Multifamily properties, Residential income homes
Square Feet
25,000 SF
Class
C
Year Built/Renovated
1930/2019
Buildings
10
Stories
1
Units
10

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.7318454
Longitude
-95.3505331
2719 Canfield St, Houston, Texas

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2719 Canfield St
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