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$1,177,642

8902 Ilona Lane, Houston, TX, 77025

Off MarketInfo
CommercialInfo
Beds2 Beds
Baths1 Bath
Baths3,900 Sq Ft
Multi FamilyMulti Family
price_per_sqft$448.72 / sqft
Year BuiltBuilt in 1965

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms 1Bathrooms 1
Heating Forced Air UnitHeating Forced Air Unit
CoolingCooling
AppliancesRange, Water Heater, Disposal, Microwave, Dishwasher, Refrigerator
FlooringLaminate, Tile

Exterior

Exterior FeaturesBalcony
Lot Size15,246 sqft

Building Information

Year Built1965

Land Information

APN0830580000005
Lot Number5
SubdivisionBraes Manor
Land UseCommercial
Legal DescriptionLT 5 BLK 2 BRAES MANOR SEC 1
Census Tract413302
Assessed Land Value$533,610
Assessed Improvement Value$644,032
Assessment Year2025

About this property

Perfectly remodeled, spotless 10-unit gem, 100% occupied, located just minutes from the Med Center & zoned to Bellaire High. This is the easy way to become a landlord without the vacancies or make-ready repairs. Eight 2-bedroom units & two 2-bedroom units located on 2 floors, most with great views of Longfellow Park. The property was thoroughly remodeled in 2020 including new roof, new windows, all new granite kitchens, baths, appliances, lighting, millwork, flooring, doors, updated elec/plumbing. Various floorplans and sizes. Exterior includes covered parking for 8 and open for others. Storage closet for each unit. Hot water provided by 2 new tankless units. All electricity is separately metered, gas is on most. Video surveillance cameras in the common areas plus controlled pedestrian access gates. Automatic driveway gate. Central laundry room w/3 brand-new coin-op washers & dryers. Located on near half-acre corner lot. Call us today for an appointment. Please do NOT engage tenants.

Investor Tools

Property Icon
$1,177,642
Estimated Property Value
$0Estimated Mortgage Balance
$387,702Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$10,500 /month
Positive
Cash Flow Estimate:
$3,500 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$2,409/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$23,016
$1,177,642
2025
$533,610
$644,032
$1,177,642
No

Tax History

Year
Tax Paid
Assessed Value
2024
$23,016
$1,177,642

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Iberiabank
Purchase Money Mortgage
$870,000
No
First
Jul 7, 2021
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$789,940
$387,702
32%
67%
$5,217/mo

Learn About the Market: Opportunity in Houston

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Explore

Houston

Houston is one of the most economically diverse metros in the country — and one of its most globally connected. Known as the Energy Capital of the World, the city also anchors the Texas Medical Center, a massive port, and a thriving aerospace presence tied to NASA’s Johnson Space Center.

From refinery corridors to world-class hospitals, from international trade routes to master-planned suburbs like The Woodlands and Katy, Houston’s economy runs deep and wide. It’s a city built on industry, immigration, and resilience — with housing markets as varied as its population.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.2%

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$261,700

Unemployment Rate

Unemployment Rate

4.10%

Price Trend

Price Trend

~2–4% YoY growth

New Permits

New Permits

~6,800 units

City: Houston

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