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General Description

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EXCELLENT SMALL MULTIFAMILY INVESTMENT OPPORTUNITY at 8% In Place CAP RATE! Kevin Riles Commercial is pleased to present this 6 Unit apartment complex just blocks from HOBBY AIRPORT! This is an awesome opportunity to own a small multifamily in a very strong C class market. This property has Five two bedroom one bath units (2/1s) and a One Bedroom One Bathroom unit (1/1). Long terms tenants with strong rental history. There is room to raise rents as well.

MLS#:

74196771 (HAR)

Sold Price Range:

$325,001 - $370,000

Listing Status:

Sold

Address:

7518 Morley Street #5

Unit No.:

City:

Houston

State:

Zip Code:

77061

County:

Harris County

Subdivision:

Fairfield

Legal Description:

LT 1 BLK 7 FAIRFIELD

Property Type:

Multi-Family - 5 Plus

Stories:

Year Built:

1980 / Appraisal District

Building Sqft.:

3,016 /Appraisal District

Lot Size:

14,200 Sqft. /Appraisal District

Key Map©:

575A

Market Area:

Hobby Area

Rooms/Lot Dimensions

1 Bdr #:

2 Bdr #:

Interior Features

Countertop:

Formica

Floors:

Tile

Heating:

Window Unit

Cooling:

Window Units

Compactor:

Disposal:

Yes

Dishwasher:

Microwave:

Yes

Exterior Features

Roof:

Composition

Exterior Type:

Cement Board, Wood

Additional Information

List Type:

Exclusive Right to Sell/Lease

Buyer Agent Compensation*:

Sub Agent Compensation*:

*Disclaimer: Listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Financial Information

Financing Considered:

Cash Sale, Conventional

Other Fees:

Maintenance Fee:

Taxes w/o Exemp:

$7, 024/2019

Tax Rate:

2.5716

Selling Agent and Brokerage

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Selling Agent

Nicholas Heinz

Click to view phone

Selling Broker

NB Elite Realty

1644 W Alabama Suite #100
Magnolia, TX 77355

Want to know how much is this home worth?

Request Home Value

Property Tax

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Cost/sqft based on Market Value

Tax Year	Cost/sqft	Market Value	Change	Tax Assessment	Change
2023	$123.47	$372,377	1.64%	$372,377	1.64%
2022	$121.48	$366,385	9.37%	$366,385	9.37%
2021	$111.07	$335,000	19.89%	$335,000	19.89%
2020	$92.65	$279,425	2.31%	$279,425	2.31%
2019	$90.56	$273,129	89.08%	$273,129	89.08%
2018	$47.89	$144,449		$144,449

2023 Harris County Appraisal District Tax Value

Market Land Value:	$56,800
Market Improvement Value:	$315,577
Total Market Value:	$372,377

harris County Appraisal District

2023 Tax Rates

HOUSTON ISD:	1.0372 %
HARRIS COUNTY:	0.3437 %
HC FLOOD CONTROL DIST:	0.0306 %
PORT OF HOUSTON AUTHORITY:	0.0080 %
HC HOSPITAL DIST:	0.1483 %
HC DEPARTMENT OF EDUCATION:	0.0049 %
HOUSTON COMMUNITY COLLEGE:	0.0956 %
HOUSTON CITY OF:	0.5336 %
HOBBY AREA DISTRICT:	0.1500 %
Total Tax Rate:	2.3519 %

Estimated Mortgage/Tax

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$2,009 Monthly

Estimated Monthly Principal & Interest (Based on the calculation below)	$ 1,279
Estimated Monthly Property Tax (Based on Tax Assessment 2023)	$ 730730
Home Owners Insurance	Get a Quote

List Price

Loan Term

Months

Years

Down Payment

Annual Interest Rate

Estimated Monthly Principal & Interest

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Subdivision Facts

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Facts (Based on Active listings)

Market Area Name:

Hobby Area

Home For Sales:

250

Average List Price:

$269,581

Average Bedrooms:

2.96

Average Baths:

1.76

Average Square Ft.:

1,790

Average Price/Square Ft.:

$154.68

Home For Lease:

Average Lease :

$1,621

Average Lease/Square Ft.:

$1.20

Schools

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School information is computer generated and may not be accurate or current. Buyer must independently verify and confirm enrollment. Please contact the school district to determine the schools to which this property is zoned.

ASSIGNED SCHOOLS

Lewis Elementary School Elementary . 01 - 05 . HOUSTON ISD

Good |

Ortiz Middle School Middle . 06 - 08 . HOUSTON ISD

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Chavez High School High . 09 - 12 . HOUSTON ISD

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Property Map

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7518 Morley Street #5, Houston, TX 77061 Directions

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7518 Morley Street #5 Houston TX 77061 was recently sold. It is a 3,016 SQFT, in Fairfield.

View all homes on Morley