1210 Wafer St Unit 4, Pasadena, TX 77506
- $599,000
- 3
- BD
- 2
- BA
- 4,766
- SqFt
- 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
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.
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
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Listing courtesy of Rella Sanders from RE/MAX Fine Properties. Contact: