1210 Wafer Street #4, Pasadena, TX 77506

Pasadena
Local realty services provided by:Better Homes and Gardens Real Estate Gary Greene
1210 Wafer Street #4,Pasadena, TX 77506
$599,000
  • 3 Beds
  • 2 Baths
  • 4,766 sq. ft.
  • Multi-family
  • Active
Listed by: rella sanders
Office: re/max fine properties281-265-5533
MLS#:27545322
Source:HARMLS

Price summary

  • Price:$599,000
  • Price per sq. ft.:$125.68

About this home

HIGH-YIELD VALUE-ADD 4-PLEX IN PASADENA - ALREADY SECTION 8 APPROVED Purchase through a (QOF) Incredible opportunity to acquire a cash-flowing Pasadena 4-plex positioned for an immediate equity push. Currently managed by a long-term, mom-and-pop owner, the asset is primed for a strategic investor to step in and capture massive operational upside. By implementing a Ratio Utility Billing System (RUBS), a new owner can wipe out $7,200 in annual owner-paid utilities, transferring that value straight to the bottom line. Skip the red tape—the property is already approved for the Section 8 program, making it a turnkey transition for a high-performing voucher portfolio. Aligning the units with local Housing Choice Voucher limits ($1,260 for 2-beds / $1,700 for 3-beds) unlocks a robust $71,040 gross annual income. Priced to deliver a highly competitive 7.5% Cap Rate upon optimization, this asset perfectly blends immediate government-backed income stability with premier value-add potential.

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Home facts

  • Year built:1971
  • Subdivision & Development:Paine H A Sec 02
  • Listing ID #:27545322
  • Updated:September 25, 2026 at 12:08 PM

Rooms and interior

  • Bedrooms:3
  • Total bathrooms:2
  • Full bathrooms:2
  • Flooring:Tile
  • Kitchen Description:Disposal, Granite Counters, Refrigerator
  • Living area:4,766 sq. ft.

Heating and cooling

  • Cooling:Central Air, Electric
  • Heating:Central, Gas
  • Central air:Yes

Structure and exterior

  • Roof:Composition
  • Year built:1971
  • Building area:4,766 sq. ft.
  • Architectural Style:FourPlex, SplitLevel
  • Construction Materials:Brick, Cement Siding
  • Levels:2 Stories

Schools

  • High school:SAM RAYBURN HIGH SCHOOL
  • Middle school:SHAW MIDDLE SCHOOL
  • Elementary school:MORALES ELEMENTARY SCHOOL

Utilities

  • Water:Water Available

Finances and disclosures

  • Price:$599,000
  • Price per sq. ft.:$125.68
  • Tax amount:$11,955 (2026)

Features and amenities

  • Appliances:Disposal, Refrigerator
  • Amenities:Ceiling Fans, Fire Alarm, Low Emissivity Windows, Window Coverings

Parking

  • Parking description:Carport
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