1210 Wafer Street #4, Houston, Texas 77506
$599,000
3 Beds
2 Full Baths
Multi-Family
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About 1210 Wafer Street #4
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.
Highlights
1210 Wafer Street #4
$599,000
Multi-Family
4,766 Home Sq Ft
Houston 77506
3 Beds
2 Full Baths
17,010 Lot Sq Ft
General Description
Taxes & Fees
Tax ID
065-093-004-0013
Tax Rate
2.4213%
Taxes w/o Exemption/Yr
$11,955 / 2026
Maint Fee
No
Interior Features
Fireplace
No
Floors
Tile
Heating
Natural Gas
Cooling
Ceiling Fan(s), Electric
Appliances
Disposal, Range, Refrigerator
Dishwasher
No
Range
Yes
Disposal
Yes
Microwave
No
Interior
Split Plan
Loft
No
Exterior Features
Roof
Composition
Exterior Type
Brick, Cement Siding
Private Pool
No
Area Pool
Maybe
Lot Description
1/4 Up to 1/2 Acre
New Construction
No
Front Door
North,South
Listing Firm
RE/MAX Fine Properties
Schools
| Name | Grade | Great School Ranking |
|---|---|---|
| Morales Elem | Elementary | 8 of 10 |
| Shaw Middle | Middle | None of 10 |
| Sam Rayburn High | High | 3 of 10 |
School information is generated by the most current available data we have. However, as school boundary maps can change, and schools can get too crowded (whereby students zoned to a school may not be able to attend in a given year if they are not registered in time), you need to independently verify and confirm enrollment and all related information directly with the school.
