Renovated Multifamily Asset Near
120 S 79th St, Houston, TX 77012
Fully renovated 10-unit multifamily property near downtown Houston.
Type:Multifamily
Property size:
4,693 SFPrice / SF:
$159/SF- Added:
- Dec 9, 2025
- Days on Market:
- 159
- Last Refresh:
- Mar 16 at 1:34 pm
Property Features for 120 S 79th St
General Information
- Standard status
- Active
- Size
- 4,693 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1970
Listing agent Joshua Kasali License #0765958
Listing office Marcus & Millichap - Houston
Listing date Dec 9, 2025
Source Crexi
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 Marcus & Millichap - Houston
HighLights
- Fully renovated units minimize capital expenditures and maximize tenant appeal.
- Located inside Houston’s highly desirable inner loop, near downtown, major highways, and key employment drivers.
- Strong mix of one‑bedroom and three‑bedroom units provides affordability and stabilized cash flow.
- In‑place rents ranging from $775 to $1,380 (3‑bedroom) offer immediate income.
- Efficient oversight provided by a live‑in manager under a favorable management agreement.
- Central location supports sustained renter demand, high occupancy, and long‑term appreciation potential.
Overview
The property at 120 S 79th Street is a fully renovated 10-unit multifamily asset located inside Houston’s inner loop. The property consists of nine updated one-bedroom/one-bath units and one fully renovated three-bedroom/one-bath unit. All units have undergone full renovations. Rents range from $775 to $1,380 (3-bedroom). The property is currently operating with a live-in manager under a favorable management agreement. The asset is strategically positioned just minutes from downtown Houston, major highways, and key employment drivers including the Port of Houston. The property size is 4,693 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$590.8K
NOI $53,168 @ 9.00% cap · cautious / downside scenario
Moderate
$759.5K
NOI $53,168 @ 7.00% cap · market / base-case scenario
Aggressive
$1.06M
NOI $53,168 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.1k | $21.96 |
| − Vacancy | −$6.4k | −$1.36 |
| EGI | $96.7k | $20.60 |
| − OpEx | −$43.5k | −$9.27 |
| NOI | $53.2k | $11.33 |
4,693 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$759.5K
$664.6K – $886.1K
NOI $53,168 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,474 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Fort Bend
- State
- Texas
- Longitude
- -95.2846834
- Latitude
- 29.7296266
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FAQs
What type of property is this?
Apartment building - Fully renovated 10-unit multifamily property near downtown Houston.
Where is this apartment building located?
The property is located at 120 S 79th St Houston, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Fully renovated units minimize capital expenditures and maximize tenant appeal.; Located inside Houston’s highly desirable inner loop, near downtown, major highways, and key employment drivers.; Strong mix of one‑bedroom and three‑bedroom units provides affordability and stabilized cash flow.
