REO Sale: Houston Value-Add Multifamily | 40 Units

Highlights:

• Value-Add Opportunity – The Property presents a clear opportunity to enhance both physical condition and operational performance through targeted interior and exterior improvements
• Significant Lease-Up Potential – Currently operating at approximately 10% occupancy
• Large Two-Bedroom Floor Plans – The Property features predominantly two-bedroom units ranging from approximately 1,100–1,200 SF, supporting long-term tenant demand
• Strategic Houston Location – Located approximately 1.5 miles from Tomball Parkway with access to Interstate 45 and major employment corridors
• Favorable Demographics & Population Growth – The surrounding area has experienced recent population growth with continued demand projecte
• Durable Construction – Brick and plank exteriors with pitched roofs support long-term operational stability and phased improvements

Description:

Ri Marketplace Online Auction May 18th-20th, 2026
Register to bid on Marketplace:

https://rimarketplace.com/auction/3140/multifamily/houston/tx?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=multifamily_3140


Edge Capital Markets, in conjunction with RI Marketplace, is pleased to present for sale La Sonrisa (the "Property"), a 40-unit multifamily community located in Houston, Texas.

The Property consists of ten two-story residential buildings totaling approximately 43,400 square feet andconstructed in 1983. La Sonrisa features a predominantly two-bedroom unit mix with average unit sizes of approximately 1,085 square feet, providing functional layouts that appeal to long-term tenants. Currently operating at low occupancy, the Property presenting a clear opportunity for a new owner to rapidly improve leasing performance and overall operations through targeted interior and exterior renovations.

La Sonrisa is located approximately 1.5 miles from Tomball Parkway with access to Interstate 45 and the greater Houston metro area. The surrounding area has experienced steady population growth and continues to support long-term rental demand. The Property represents a value-add investment opportunity to acquire a well-located asset with the ability to enhance operations and drive long-term performance.



Lamar P. Fisher
Fisher Auction Company Inc.
License: 10344
The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.

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