77-Unit Multifamily | REO | Value-Add/Redevelopment Opportunity | 1919 W Main

Description:

Ri Marketplace Online Auction August 11-13, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2620/77-unit-multifamily-reo-value-add-redevelopment-opportunity-1919-w-main?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=multifamily_2620

1919 West Main Street is a 77-unit, 53,500-square-foot multifamily asset prominently located at the intersection of West Main Street and Hazard Street in Houston’s highly sought-after Montrose neighborhood. Built in 1963, the property features wood and stucco construction with a pitched roof and sits on approximately 1.22 acres—one of the largest continuous parcels in Montrose, spanning nearly an entire city block.

Currently 0% occupied due to significant deferred maintenance, the property represents a rare and compelling value-add or redevelopment opportunity. With 77 units, 1919 West Main is the largest vintage boutique apartment asset in the submarket, offering scale that is difficult to replicate in this dense, infill location. Renovated properties of similar vintage in Montrose are achieving average rents exceeding $1,400 with occupancy rates above 91%, proving the strong upside potential for a new owner to reposition the asset through comprehensive renovation or full-scale redevelopment.

Montrose is one of Houston’s most iconic and desirable neighborhoods, known for its eclectic character, walkability, and vibrant cultural scene. Centrally located between major employment hubs like Downtown, the Galleria, Greenway Plaza, and the Texas Medical Center, Montrose offers excellent accessibility via key thoroughfares such as Interstate 69, Interstate 610, and Interstate 45. The neighborhood is home to a well-educated, affluent population and attracts residents drawn to its unique mix of historic charm, boutique shops, art galleries, acclaimed restaurants, and lively nightlife. With its strong sense of community and enduring appeal, Montrose remains a top destination for renters seeking a dynamic, urban lifestyle.


Lamar P. Fisher
Fisher Auction Company Inc.
License: 10344

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