12-Unit Studio Apartment
1421 Marshall Street, Houston, TX 77006
For Sale
$1,200,000
Gated access and remodeled interiors include stainless steel appliances and vinyl plank flooring.
Property Size4,592 SF
Price / SF$261.32
Days on Market269
Property Features for 1421 Marshall Street
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
gated access
Building Details
Building Size
Year Built
Buildings
Listing Agency:
LPT Realty, LLC
Listed By:
Klodian Hoxha
(281) 785-5170
Source:
Oakhousere
Added: Feb 17
Changed: Nov 8
Last Checked: Nov 12 at 2:58PM
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 LPT Realty, LLC
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Investment Insights
Based on property information with market context.
This 12-unit studio apartment property contains 4,592 square feet and was built in 1940. The units have been remodeled with stainless steel appliances, vinyl plank flooring, updated fixtures, and A/C systems. The gated building reports 80% occupancy.
Located at 1421 Marshall Street in Houston’s Montrose neighborhood, the property is described as close to dining, nightlife, boutiques, art galleries, and transit options.
Located at 1421 Marshall Street in Houston’s Montrose neighborhood, the property is described as close to dining, nightlife, boutiques, art galleries, and transit options.
Key Highlights
- 12 studio units in a 4,592‑square‑foot apartment building
- 80% occupancy
- Remodeled units feature stainless steel appliances, vinyl plank flooring, A/C systems, and updated fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,024
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,040,480
$1.0M
Cap Rate 7%
$743,200
$743.2K
Cap Rate 9%
$578,044
$578.0K
Market Conditions
NOI Build-Up for 4,592 SF
Gross rent
$100.8K $21.96/SF
− Vacancy
−$6.3K −$1.36/SF
EGI
$94.6K $20.60/SF
− OpEx
−$42.6K −$9.27/SF
NOI
$52.0K $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 Rate 5%
$1,040,480
Cap Rate 7%
$743,200
Cap Rate 9%
$578,044
Alternative Uses
Best Use
Apartment 5plus
$743.2K
$650.3K – $867.1K
NOI $52,024 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,656 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
80%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,910
Businesses Nearby
Explore this area
Business Placement
Demographics for 77006, TX
24,129
Population
16,654
Households
1.4
Avg Household Size
36
Median Age
80%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
10,491
Density / Sq Mi
$102,003
Median Household Income
$73,275
Median Earnings
$1,761
Median Rent
$599,500
Median Home Value
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Market
Properties on Market for Apartment buildings in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Gated access and remodeled interiors include stainless steel appliances and vinyl plank flooring.
Where is this apartment building located?
The property is located at 1421 Marshall Street Houston, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 12 studio units in a 4,592‑square‑foot apartment building; 80% occupancy; Remodeled units feature stainless steel appliances, vinyl plank flooring, A/C systems, and updated fixtures
