8-Unit Apartment
For Sale
$780,500
1306 3rd St Unit 8, Galena Park, TX 77547
Fully occupied multifamily property with established rental history and access to highways, employment centers, and shopping.
Property Size5,292 SF
Price / SF$147.49
Days on Market48
Property Features for 1306 3rd St Unit 8
General Information
Standard status
Active
Size
5,292 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
8
Building Details
Year Built
1960
Listing Agency:
Can-2 Realty
Listed By:
Isairis Lozano · License #0622334
(832) 794-6923
Source:
Thebandpteam
Added: Sep 5
Changed: Oct 1
Last Checked: Oct 7 at 1:37PM
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 Can-2 Realty
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Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 5,292 square feet and was constructed in 1960. The building is currently 100% occupied and has an established rental history, providing an existing operating profile for a new owner.
Located at 1306 3rd St Unit 8 in Galena Park, the property offers access to major highways, employment centers, shopping, and surrounding Houston areas. Its unit count, current occupancy, and documented rental history make it a straightforward multifamily asset for continued operation.
Located at 1306 3rd St Unit 8 in Galena Park, the property offers access to major highways, employment centers, shopping, and surrounding Houston areas. Its unit count, current occupancy, and documented rental history make it a straightforward multifamily asset for continued operation.
Key Highlights
- 8‑unit apartment property
- 5,292 square feet
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,086
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,720
$701.7K
Cap Rate 7%
$501,229
$501.2K
Cap Rate 9%
$389,844
$389.8K
Market Conditions
NOI Build-Up for 5,292 SF
Gross rent
$70.5K $13.32/SF
− Vacancy
−$6.7K −$1.27/SF
EGI
$63.8K $12.05/SF
− OpEx
−$28.7K −$5.42/SF
NOI
$35.1K $6.63/SF
Area
Harris County, TX
Vacancy
9.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,720
Cap Rate 7%
$501,229
Cap Rate 9%
$389,844
Alternative Uses
Best Use
Apartment 5plus
$501.2K
$438.6K – $584.8K
NOI $35,086 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.69M
NOI $101,149 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Explore this area
Business Placement
Demographics for 77547, TX
9,627
Population
2,928
Households
3.3
Avg Household Size
31
Median Age
9%
College-Educated
68%
High-School Grad
3.9 sq mi
ZIP Area
2,468
Density / Sq Mi
$53,854
Median Household Income
$30,171
Median Earnings
$1,099
Median Rent
$109,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with established rental history and access to highways, employment centers, and shopping.
Where is this apartment building located?
The property is located at 1306 3rd St Unit 8 Galena Park, TX.
What is the asking price?
The asking price for this property is $780,500.
What are key features of this property?
This property features: 8‑unit apartment property; 5,292 square feet; 100% occupied
