7526 Martin Luther King BlvdHouston, TX 77033

For Sale
Call for price

Houston, TX Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
93
Norma's Plaza Apartments, a well-maintained 80-unit apartment building located at 7526 Martin Luther King Blvd, Houston, Texas 77033, presents a compelling investment opportunity. Constructed in 2004, this garden-style property boasts a current occupancy rate of 92.5%. The property benefits from its designation as a Low-Income Housing Tax Credit (LIHTC) property, offering a low basis for potential investors. Situated in the Sunnyside neighborhood of Houston, within Harris County, this asset is strategically positioned in a submarket experiencing a shortage of non-age-restricted affordable housing. Currently, rents are significantly below the maximum allowable rents for the area, presenting an immediate opportunity to increase revenue. This translates to both short-term and long-term financial advantages for investors seeking to expand their portfolio within Houston's MSA. The property's strong occupancy and favorable location within a high-demand market make it an attractive prospect for those seeking a stable and potentially high-yielding investment in the multifamily sector. Further details are available in the offering materials.

Highlights

  • LIHTC property with low basis.
  • Current rents below market maximums, offering immediate upside.
  • Submarket shortage of non-age-restricted affordable housing creates high demand.

Property Details for 7526 Martin Luther King Blvd

Property type
Multifamily properties, Apartment buildings
Year Built
2004
Units
80

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.6727297
Longitude
-95.3376687
7526 Martin Luther King Blvd, Houston, Texas

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7526 Martin Luther King Blvd
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