1407 Carroll Oliver WayHouston, TX 77020

This 10-unit apartment building, located at 1407 Carroll Oliver Way in Houston, Texas, presents a compelling value-add investment opportunity. The property, a two-story, Class C building constructed in 1960, sits on a 5,035 square foot lot in the revitalizing Greater 5th Ward area near Denver Harbor. The complex comprises eight two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units. Eight units have undergone renovations, featuring updated countertops, tile, toilets, appliances, plumbing, and fresh paint. Significant improvements completed since 2017 include the replacement of water supply lines, exterior siding, and the roof. Further enhancements include French drain installation (2022), replacement of eight electrical panels (2023), and broiler replacement (2024). The exterior received a fresh coat of paint in 2023. The property boasts a 90% occupancy rate as of September 6, 2024, and is conveniently located near I-10 East freeway, providing easy access to downtown Houston. The property is zoned for residential multi-family use and is not located in a flood zone. This turnkey property offers immediate cash flow and significant growth potential in a rapidly improving neighborhood. The asking price is $849,000. The Harris County APN is 0700570010001.