REO Sale: Stabilized 12-Unit Apartment – 501 Branard

Description:

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

https://rimarketplace.com/auction/2618/reo-sale-stabilized-12-unit-apartment-501-branard?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=multifamily_2618

501 Branard Street is a 12-unit multifamily asset located in the heart of Houston’s vibrant Montrose neighborhood. Built in 1959 and extensively renovated in 2018, the property features brick construction with modern metal siding and a flat roof. Situated on a 0.158-acre lot just off Spur 527, providing direct access to Interstate 69 and seamless connectivity to Houston’s major employment hubs.

The property is 91.67% occupied, with below market rents. Renovated interiors feature modern kitchens with updated cabinetry, countertops, and fixtures, new hardwood flooring, upgraded bathrooms with walk-in showers, and in-unit stackable washers and dryers. The unit mix includes 10 one-bedroom units and 2 two-bedroom units, averaging 742 square feet. Management recently signed new leases at the increased rental rates of $1,300 for one-bedrooms and $1,400 for two-bedrooms, demonstrating the market’s ability to support these higher rents. With the property being fully occupied and renovated, the value-add component is to raise rents as units turn, requiring minimal additional capital and immediate upside potential.

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

Documents: