REO Sale | Spooner Street Apartments | 10,408 Rentable SF | 1.01 Acres

Highlights:

• Onsite Laundry Facility
• Individually Metered Electricity
• Includes Mobile Home Generating Significant Rent Premium
• Recently Renovated Interior Units
• Convenient Access to Major Highways
• Ample Parking for Tenants

Description:

Ri Marketplace Online Auction March 9th-11th, 2026
Register to bid on Marketplace:

https://rimarketplace.com/auction/2968/reo-sale-spooner-street-apartments-10-408-rentable-sf-1.01-acres?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=multifamily_2968

Marcus & Millichap, in partnership with RealInsight Marketplace, is pleased to present the opportunity to acquire a newly renovated apartment community located in the heart of Pasadena, Texas. The property features a well-balanced unit mix consisting of 7 studio units, 11 one-bedroom/one-bath units, one two-bedroom/one-bath unit, and a spacious 3-bedroom/2-bath mobile home totaling 1,182 square feet, which commands a significant rental premium compared to the other units.

All apartment interiors have been recently upgraded, and these renovations have already demonstrated strong rent growth potential. The property is individually metered for electricity, reducing utility expenses for ownership. Additional amenities include ample onsite parking and a laundry facility currently offered free of charge to residents, providing an opportunity for a new owner to implement coin-operated or app-based payment systems for added revenue. Furthermore, the property offers the potential to introduce a RUBS program for water, creating another income stream.

Situated at the end of a quiet street, the community provides a peaceful living environment while maintaining excellent accessibility. The property is conveniently located near major retailers such as Walmart and McDonald’s, as well as several banks, and is just south of Highway 225 and west of the 610 Loop, offering quick access to Houston’s major employment hubs and metropolitan areas.


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.

Documents: