Houston Quadruplex Near
904 Panama Street, Houston, TX 77009
Quadruplex with easy access to schools, supermarkets, and restaurants.
Type:Multi Family
Property size:
2,228 SFPrice / SF:
$223/SF- Added:
- Nov 1, 2024
- Days on Market:
- 579
- Last Refresh:
- May 27 at 10:42 am
Property Features for 904 Panama Street
General Information
- Standard status
- Active
- Size
- 2,228 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1926
Listing agent Juan Salcedo License #0658768 (832) 642-2897
Listing office ASIN Realty (832) 642-2897
Listing date Nov 1, 2024
Source Exitrealty
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 ASIN Realty
HighLights
- Quadruplex in prime Downtown Houston location.
- All units feature four bedrooms and four full bathrooms.
- Walking distance to schools, supermarkets, restaurants, and parks.
- The largest unit has potential to add a bedroom and bathroom on the first floor.
- One unit is currently vacant.
- Built in 1926.
Overview
This quadruplex features four bedrooms and four full bathrooms. Its location provides convenient access and walking distance to schools, supermarkets, restaurants, and parks. Some units are currently occupied. The largest unit is a two-story unit; the first floor is currently used as a storage room with the option to build another bedroom and bathroom. The second floor has two rooms with a bedroom, bathroom, and kitchen. The left unit, which includes a bedroom and bathroom, is currently vacant. The right unit, which also includes a bedroom and bathroom, is currently occupied. The property size is 2228 square feet.
Local Financial Insights For Multifamily LT 5
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 | $44.1k | $19.80 |
| − Vacancy | −$2.4k | −$1.09 |
| EGI | $41.7k | $18.71 |
| − OpEx | −$12.5k | −$5.61 |
| NOI | $29.2k | $13.10 |
2,228 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$416.9K
$364.8K – $486.4K
NOI $29,182 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$360.6K
$315.5K – $420.7K
NOI $25,241 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$572.9K
$501.3K – $668.4K
NOI $40,104 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Fort Bend
- State
- Texas
- Longitude
- -95.3627037
- Latitude
- 29.7853716
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Quadruplex with easy access to schools, supermarkets, and restaurants.
Where is this quadplex located?
The property is located at 904 Panama Street Houston, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Quadruplex in prime Downtown Houston location.; All units feature four bedrooms and four full bathrooms.; Walking distance to schools, supermarkets, restaurants, and parks.
