1210 Wafer Street, #4
Pasadena, TX 77506
$599,000
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.
| Listing Id: | 27545322 |
|---|---|
| List Price: | $599,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Quadruplex |
| Status: | Active |
| Bedrooms Total: | 3 |
| Bathrooms Full: | 2 |
| Living Area: | 4,766 |
| Tax Annual Amount: | $11,955 |
| Architectural Style: | Split Level and Fourplex |
| Waterfront?: | No |
| City: | Pasadena |
| County Or Parish: | Harris |
| Subdivision: | Paine H A Sec 02 |
| Postal Code: | 77506 |
| Year Built: | 1971 |
| Number Of Units Total: | 4 |
| Appliances: | Disposal and Refrigerator |
| Basement Yn: | No |
| Bathrooms Total Integer: | 2 |
| Building Area Total: | 4,766.0 |
| Carport?: | Yes |
| Construction Materials: | Brick, CementSiding |
| Cooling: | Central Air and Electric |
| Cooling?: | Yes |
| Direction Faces: | North |
| Directions: | FROM BELTWAY-8 * TURN RIGHT ON PASADENA BLVD * TURN LEFT ON SOUTHMORE * RIGHT ON WAFER ST * MULTI-FAMILY WILL BE ON THE LEFT |
| Elementary School: | MORALES ELEMENTARY SCHOOL |
| Elementary School District: | 41 - Pasadena |
| Flooring: | Tile |
| Green Energy Efficient: | Windows |
| Heating: | Central, Gas |
| Heating?: | Yes |
| High School: | SAM RAYBURN HIGH SCHOOL |
| High School District: | 41 - Pasadena |
| Interior Features: | GraniteCounters, WindowTreatments, CeilingFans |
| Internet Automated Valuation Display?: | Yes |
| Internet Consumer Comment?: | Yes |
| Laundry Features: | WasherHookup, DryerHookup |
| Levels: | Two, MultiSplit |
| Listing Agreement: | ExclusiveRightToLease |
| Listing Terms: | Cash, Conventional, FHA, VaLoan |
| Living Area Source: | Appraiser |
| Lot Size Area: | 17,010.0 |
| Lot Size Source: | Appraiser |
| Lot Size Units: | SquareFeet |
| Middle Or Junior School: | SHAW MIDDLE SCHOOL |
| Middle Or Junior School District: | 41 - Pasadena |
| MLS Area Major: | 6 |
| MLS Area Minor: | Pasadena |
| Operating Expense Includes: | Fuel, Insurance, Maintenance, RealEstateTax, Trash, WaterSewer |
| Original List Price: | $599,000 |
| Other Parking: | More than Two |
| Parcel Number: | 065-093-004-0013 |
| Parking Features: | Carport |
| Postal City: | Pasadena |
| Postal Code Plus4: | 4650 |
| Public Survey Section: | 2 |
| Roof: | Composition |
| Security Features: | FireAlarm |
| Status: | Active |
| State Or Province: | TX |
| Stories: | 2 |
| Street Number Numeric: | 1,210 |
| Tax Year: | 2026 |
| Universal Property: | US-48201-N-0650930040013-R-N |
| Utilities: | Natural Gas Available and Water Available |
| Window Features: | Low Emissivity Windows and Window Coverings |
| Year Built Source: | PublicRecords |
| Listing Key: | 1190924146 |
| Property Sub Type Additional: | Quadruplex |
| Current Price: | $599,000.00 |
| Country Subdivision: | 48201 |
| Record Signature: | 567,386,853 |
| Universal Parcel Id: | urn:reso:upi:2.0:US:48201:065-093-004-0013 |
Listing Courtesy of: RE/MAX Fine Properties
Listing Agent: Rella M Sanders
713-302-8098
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Houston Association of REALTORS® data last updated on October 08, 2026 06:16 PM - ET.
Property Last Updated: October 08, 2026 06:16 PM - ET
