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.
Features of 1210 Wafer Street 4
| MLS® # | 27545322 |
|---|---|
| Price | $599,000 |
| Bedrooms | 3 |
| Bathrooms | 2.00 |
| Full Baths | 2 |
| Square Footage | 4,766 |
| Square Footage | 17010 |
| Acres | 0.39 |
| Year Built | 1971 |
| Type | Residential Income |
| Sub-Type | Multi Family,Quadruplex |
| Status | Active |
Community Information
| Address | 1210 Wafer Street 4 |
|---|---|
| Area | 6 |
| Subdivision | Paine H A Sec 02 |
| City | Pasadena |
| County | Harris |
| State | TX |
| Zip Code | 77506-4650 |
Amenities
| Utilities | Separate Meters, Natural Gas Connected, Water Connected |
|---|---|
| Parking | Carport, More than Two |
| Is Waterfront | No |
| Has Pool | No |
| New Construction | No |
| Golf Course | N |
Interior
| Interior Features | Split Plan |
|---|---|
| Appliances | Range, Disposal, Refrigerator |
| Heating | Natural Gas |
| Cooling | Ceiling Fan(s), Electric |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Split Level |
Exterior
| Lot Description | 1/4 Up to 1/2 Acre |
|---|---|
| Windows | Insulated/Low-E windows, Window Coverings |
| Roof | Composition |
| Construction | Brick, Cement Siding |
School Information
| District | 41 - Pasadena |
|---|---|
| Elementary | Morales Elementary School |
| Middle | Shaw Middle School |
| High | Sam Rayburn High School |
Additional Information
| Foreclosure | No |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | RE/MAX Fine Properties |
|---|