Houston Multifamily Investment
For Sale
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14302 Laredo St, Houston, TX 77015
14-unit apartment complex in Channelview area with high occupancy.
Property Size6,968 SF
Lot Size0.25 Acres
Price / SF$142.08
Days on Market802
Property Features for 14302 Laredo St
General Information
Standard status
Active
Size
6,968 SF
Class
C
Total Parking Spaces
23
Lot size
0.25 Acres
Property subtype
Multifamily
Occupancy
85%
Investment Type
Value Add
Building Details
Year Built
1984
Year Renovated
2024
Buildings
2
Stories
2
Units
14
Listing Agency:
Bryan Luong, CCIM South Texas Prime Properties
Listed By:
Bryan Luong, CCIM · License #TX 474045
(713) 530-8886
Source:
Crexi
Added: Jun 25, 2024
Changed: Aug 8
Last Checked: Sep 2 at 12:38AM
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 Bryan Luong, CCIM South Texas Prime Properties
Investment Insights
Based on property information with market context.
This multifamily property, located at 14302 Laredo St. in Houston, Texas, presents an investment opportunity in the Channelview area. Constructed in 1984 and 1985 and remodeled in 2015 with upgrades in 2024, the property consists of 14 units. The 6,968 square foot building is situated on an 11,000 square foot corner lot. It features on-site parking and a fenced yard. The building's exterior is constructed of frame and stucco. There are 23 parking spaces available. The property benefits from high visibility and strong demographics, with a surrounding population of over 165,000 within a 1 to 5-mile radius. It has an 85% occupancy rate. The property has easy access to I-10 East.
Key Highlights
- Steady 85% occupancy rate ensures consistent income.
- Prime location in the thriving Channelview area with easy access to I‑10 East.
- Recent upgrades in 2024 including new AC units, vinyl flooring, paint, and lighting.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,942
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,578,840
$1.6M
Cap Rate 7%
$1,127,743
$1.1M
Cap Rate 9%
$877,133
$877.1K
Market Conditions
NOI Build-Up for 6,968 SF
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.
Gross rent
$153.0K $21.96/SF
− Vacancy
−$9.5K −$1.36/SF
EGI
$143.5K $20.60/SF
− OpEx
−$64.6K −$9.27/SF
NOI
$78.9K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,578,840
Cap Rate 7%
$1,127,743
Cap Rate 9%
$877,133
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$986.8K – $1.32M
NOI $78,942 @ 7.0% cap · market cap 7.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,424 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 77015, TX
57,106
Population
19,961
Households
2.9
Avg Household Size
31
Median Age
11%
College-Educated
70%
High-School Grad
20.7 sq mi
ZIP Area
2,759
Density / Sq Mi
$57,324
Median Household Income
$34,477
Median Earnings
$1,169
Median Rent
$164,700
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 - 14-unit apartment complex in Channelview area with high occupancy.
Where is this apartment building located?
The property is located at 14302 Laredo St Houston, TX.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Steady 85% occupancy rate ensures consistent income.; Prime location in the thriving Channelview area with easy access to I‑10 East.; Recent upgrades in 2024 including new AC units, vinyl flooring, paint, and lighting.
