10-Unit Apartment
For Sale
$1,500,000
1-10-1905 Binz St, Houston, TX 77004
Apartment property near Downtown, the Texas Medical Center, Rice University, and the University of Houston, with access to 288.
Property Size6,656 SF
Price / SF$225.36
Days on Market807
Property Features for 1-10-1905 Binz St
General Information
Standard status
Active
Size
6,656 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
10
Listing Agency:
Hamilton Properties
(713) 748-3502
Listed By:
Tyrone Hamilton · License #0422040
(713) 748-3502
Source:
Exprealty
Added: May 17, 2024
Changed: Jul 31
Last Checked: Jul 31 at 7:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hamilton Properties
Investment Insights
Based on property information with market context.
This 10-unit apartment property contains 6,656 square feet and is located in Houston’s Museum District. The property is tenant-occupied, with the source information also reporting conflicting rental-status figures that are not characterized here.
The property is minutes from Downtown, the Texas Medical Center, Rice University, and the University of Houston. It is close to the Children’s Museum and Asian Museum, with access to 288 and a nearby Metro line. New construction is reported throughout the surrounding area.
The property is available for drive-by preview only, and tours require an acceptable contract. Prospective parties are asked not to disturb tenants or walk the lot.
The property is minutes from Downtown, the Texas Medical Center, Rice University, and the University of Houston. It is close to the Children’s Museum and Asian Museum, with access to 288 and a nearby Metro line. New construction is reported throughout the surrounding area.
The property is available for drive-by preview only, and tours require an acceptable contract. Prospective parties are asked not to disturb tenants or walk the lot.
Key Highlights
- 10‑plex apartment property with 6,656 square feet
- Located in Houston’s Museum District
- Minutes from Downtown, Texas Medical Center, Rice University, and University of Houston
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.2k | $21.96 |
| − Vacancy | −$9.1k | −$1.36 |
| EGI | $137.1k | $20.60 |
| − OpEx | −$61.7k | −$9.27 |
| NOI | $75.4k | $11.33 |
6,656 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$942.6K – $1.26M
NOI $75,407 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,808 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property near Downtown, the Texas Medical Center, Rice University, and the University of Houston, with access to 288.
Where is this apartment building located?
The property is located at 1-10-1905 Binz St Houston, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10‑plex apartment property with 6,656 square feet; Located in Houston’s Museum District; Minutes from Downtown, Texas Medical Center, Rice University, and University of Houston
