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1210 Wafer St Unit 4, Pasadena, TX 77506

$599,000
: 3
BD
: 2
BA
: 4,766
SqFt

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List Price: $599,000
MLS#: 27545322
Status: ACTIVE
Type: Multifamily
Subtype: ResidentialIncome
Style: Split Level, Fourplex
Year Built: 1971
Bedrooms: 3
Bathrooms: 2
Living Area: 4,766
County: Harris
Area: 6
City: Pasadena
Subdivision: Paine H A Sec 02

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Property Description

HIGH-YIELD VALUE-ADD 4-PLEX IN PASADENA - ALREADY SECTION 8 APPROVED Purchase through a (QOF) Incredible opportunity to acquire a cash-flowing Pasadena 4-plex positioned for an immediate equity push. Currently managed by a long-term, mom-and-pop owner, the asset is primed for a strategic investor to step in and capture massive operational upside. By implementing a Ratio Utility Billing System (RUBS), a new owner can wipe out $7,200 in annual owner-paid utilities, transferring that value straight to the bottom line. Skip the red tape—the property is already approved for the Section 8 program, making it a turnkey transition for a high-performing voucher portfolio. Aligning the units with local Housing Choice Voucher limits ($1,260 for 2-beds / $1,700 for 3-beds) unlocks a robust $71,040 gross annual income. Priced to deliver a highly competitive 7.5% Cap Rate upon optimization, this asset perfectly blends immediate government-backed income stability with premier value-add potential.

214-641-4491

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Additional Information

Unexempt Taxes: $11,955
Lot Size: 17,010
Interior Features: Granite Counters, Window Treatments, Ceiling Fans
Flooring: Tile
Roof: Composition
Stories: 2
School District: Pasadena
Elementary School: Morales Elementary School
Middle School: Shaw Middle School
High School: Sam Rayburn High School