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Offering Summary
Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 4203 Hirsch Road is an 18-unit gated multifamily community inside the 610 Loop in Northeast Houston. Built in 1961 and 1970 on 1.03 acres, the 13,644 SF property consists entirely of 758 SF two-bedroom, one-bathroom units. Fourteen units are occupied at an average in-place rent of $981 per month, with four units vacant, placing physical occupancy at roughly 78%. Current rents range from $950 to $1,050, and three leases already achieve $1,025 to $1,050, establishing a proven rent ceiling for the remaining units. The T-12 reflects $172,923 of effective gross income and $36,649 of NOI, while an as-is view normalizing repairs and maintenance to $13,500 shows $61,280 of NOI. Leasing the vacant units, moving rents toward $1,050, and reaching 95% physical occupancy supports a stabilized pro forma NOI of $93,784. An onsite laundry facility provides supplemental income. The location offers access to Highway 69 and Loop 610, with Downtown Houston approximately four miles away and direct connectivity to Midtown and the Texas Medical Center.
Due Diligence
Location
4203 Hirsch Road sits on Hirsch Road in Northeast Houston, inside the 610 Loop with direct access to Highway 69 and Loop 610. Downtown Houston is approximately 4 miles and 10 minutes away, and the same corridors reach Midtown and the Texas Medical Center, giving residents efficient commutes to the city's largest employment centers and supporting rental demand.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
