Eight-Unit Apartment
For Sale
$795,500
1306 3rd Street # 8, Galena Park, TX 77547
Fully occupied property with established rental history and access to major highways.
Property Size5,292 SF
Days on Market28
Property Features for 1306 3rd Street # 8
General Information
Standard status
Active
Size
5,292 SF
Property subtype
Multi Family,5 Plus
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
8
Building Details
Building Size
5,292 SF
Year Built
1960
Listing Agency:
Can-2 Realty
(832) 794-6923
Listed By:
Isairis Lozano · License #0622334
(832) 794-6923
Source:
Mpowerrealtygroup
Added: Jul 9
Changed: Jul 31
Last Checked: Aug 4 at 8:38AM
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 Can-2 Realty
Investment Insights
Based on property information with market context.
This eight-unit apartment property was built in 1960 and is currently 100% occupied. The property has an established rental history and consistent tenant occupancy across its apartment units.
Located at 1306 3rd Street in Galena Park, the property offers access to major highways, employment centers, shopping, and surrounding Houston areas.
Located at 1306 3rd Street in Galena Park, the property offers access to major highways, employment centers, shopping, and surrounding Houston areas.
Key Highlights
- 8‑unit apartment property
- 100% occupied
- Built in 1960
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 | $70.5k | $13.32 |
| − Vacancy | −$6.7k | −$1.27 |
| EGI | $63.8k | $12.05 |
| − OpEx | −$28.7k | −$5.42 |
| NOI | $35.1k | $6.63 |
5,292 SF · lease $13.32/SF/yr · vacancy 9.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$501.2K
$438.6K – $584.8K
NOI $35,086 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.69M
NOI $101,149 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
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 - Fully occupied property with established rental history and access to major highways.
Where is this apartment building located?
The property is located at 1306 3rd Street # 8 Galena Park, TX.
What is the asking price?
The asking price for this property is $795,500.
What are key features of this property?
This property features: 8‑unit apartment property; 100% occupied; Built in 1960
