4-Unit
New
For Sale
$575,000
2302 Blodgett Street 1-4, Houston, TX 77004
Four one-bedroom apartments offer a compact multifamily configuration near major Houston institutions and transit options.
Property Size3,384 SF
Price / SF$169.92
Days on Market7
Property Features for 2302 Blodgett Street 1-4
General Information
Standard status
Active
Size
3,384 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1935
Listing Agency:
United Real Estate
Listed By:
Darrell Clough · License #0798383
(832) 752-9071
Source:
Thebandpteam
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 5 at 11:22PM
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 United Real Estate
Investment Insights
Based on property information with market context.
This 3,384-square-foot quadplex contains four apartments, each arranged with one bedroom and one bathroom. Built in 1935, the property is located at 2302 Blodgett Street in Houston.
Texas Southern University, the University of Houston, and the Texas Medical Center are nearby. METRO bus service, METRORail, Hwy 288, and I-45 provide connections to destinations across the city, including Downtown Houston, Midtown, and the Museum District.
Texas Southern University, the University of Houston, and the Texas Medical Center are nearby. METRO bus service, METRORail, Hwy 288, and I-45 provide connections to destinations across the city, including Downtown Houston, Midtown, and the Museum District.
Key Highlights
- Four apartments, each with 1 bedroom and 1 bathroom
- 3,384 square feet across the quadplex
- Built in 1935
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,323
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$886,460
$886.5K
Cap Rate 7%
$633,186
$633.2K
Cap Rate 9%
$492,478
$492.5K
Market Conditions
NOI Build-Up for 3,384 SF
Gross rent
$67.0K $19.80/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$63.3K $18.71/SF
− OpEx
−$19.0K −$5.61/SF
NOI
$44.3K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$886,460
Cap Rate 7%
$633,186
Cap Rate 9%
$492,478
Alternative Uses
Best Use
Multifamily LT 5
$633.2K
$554.0K – $738.7K
NOI $44,323 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$547.7K
$479.2K – $639.0K
NOI $38,338 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$870.2K
$761.4K – $1.02M
NOI $60,912 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,962
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
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?
Quadplex - Four one-bedroom apartments offer a compact multifamily configuration near major Houston institutions and transit options.
Where is this quadplex located?
The property is located at 2302 Blodgett Street 1-4 Houston, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four apartments, each with 1 bedroom and 1 bathroom; 3,384 square feet across the quadplex; Built in 1935
