Panama Estates — Sale in Houston, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Houston, TX 77015

Photos

Panama Estates — Sale in Houston, TX, photo 1 of 2
Panama Estates — Sale in Houston, TX, photo 2 of 2

Investment Figures

Cap rate
5.70%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Panama Estates is a well-maintained, 21-unit multifamily community located at 13931 Hillsboro Street in Cloverleaf. Built in 1984 and currently more than 90% occupied, the property offers stable in-place operations with convenient access to Interstate 10 and major East Houston employment centers. With additional room to improve rents and an attractive acquisition basis of approximately $52,000 per unit, the offering provides investors with a compelling combination of immediate cash flow, desirable vintage, and attainable upside. Investment Highlights: • Attractive $52,000-Per-Unit Basis — A compelling entry point that positions investors well below replacement cost and supports a favorable long-term investment basis. • Stable Occupancy with Rent Upside — Occupancy above 90% provides dependable in-place revenue, while below-market rents offer a clear opportunity to increase income over time. • Desirable 1984 Vintage and Accessible Location — Well-maintained 1980s construction and convenient access to I10 strengthen the property's competitive position within the Cloverleaf submarket

Market Context

This multifamily in Houston, TX is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Houston, TX — view the full market.

As of Q1 2026, the Houston multifamily market showed an 11.5% vacancy rate, and average asking rents near $1384.50/unit/mo. Source: multiple brokerage reports, Q1 2026.

Multifamily market FAQ

Is the Houston multifamily market tightening or softening?
Vacancy is around 11.5% (Q1 2026).

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