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Lencor Apartments 724 E 11th St

25 Unit Apartment Building $5,261,881 CAD ($210,475 CAD/Unit) Houston, TX 77008

Investment Highlights

  • Class A neighborhood in proximity to trendy restaurants & walkable amenities, as well as its high-income demographic
  • High Demand for Units, Minimizing vacancy risk & Offering stable Cash flow to Investors
  • 96% Occupancy with rents significantly below market, Immediate opportunity for value -appreciation through targeted renovations and rate increases
  • Flexible Investment Strategy; Choice of value-add strategy or holding the property as a covered land play

Executive Summary

Lencor Apartments, located at 724 E 11th St in Houston’s highly sought-after Heights neighborhood, The Heights is a vibrant, high-demand area that attracts young professionals, ensuring strong rental demand and minimal vacancy risk. Lencor Apartments offers a prime investment opportunity with 25 fully occupied units, including 24 efficiency units ; 1, two bedroom and one bathroom unit. The property features significantly under-market rents, presenting immediate potential for value appreciation through renovations and rent increases. Additionally, there is an opportunity to acquire the adjacent single-family residence bringing the total land assemblage up-to 25,000 square feet, providing further development potential. Investors can pursue a value-add strategy or hold for future redevelopment in this rapidly evolving neighborhood. With solid cash flow and substantial upside potential via upgrades or redevelopment, Lencor Apartments is an asset with significant growth prospects

Data Room Click Here to Access

Financial Summary (Pro forma - 2024) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2024) Click Here to Access

Gross Rental Income (CAD)
Annual -
Annual Per SF -
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual -
Annual Per SF -
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $5,261,881 CAD
Price Per Unit $210,475 CAD
Sale Type Investment
Sale Conditions
Deferred Maintenance
  • Redevelopment Project
No. Units 25
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.56 AC
Building Size 15,460 SF
Average Occupancy 96%
No. Stories 2
Year Built 1951

Unit Amenities

  • Heating
  • Ceiling Fans
  • Refrigerator
  • Oven
  • Built-In Bookshelves

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 24 - 450
2+1 1 - 450
Walk Score ®
Very Walkable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0350210400005
Land Assessment
$2,898,390 CAD (2023)
Improvements Assessment
$139,116 CAD (2023)
Total Assessment
$3,037,506 CAD (2023)
  • Listing ID: 33932468

  • Date on Market: 2024-11-20

  • Last Updated:

  • Address: 724 E 11th St, Houston, TX 77008

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