Houston Multifamily Investment
14302 Laredo St, Houston, TX 77015
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14-unit apartment complex in Channelview area with high occupancy.
Type:Multifamily
Property size:
6,968 SFLot size:
0.25 AcresPrice / SF:
$165/SF- Added:
- Jun 25, 2024
- Days on Market:
- 708
- Last Refresh:
- Mar 17 at 1:26 pm
Property Features for 14302 Laredo St
General Information
- Standard status
- Active
- Size
- 6,968 SF
- Lot size
- 0.25 Acres
- Property subtype
- Multifamily
Listing agent Bryan Luong, CCIM License #TX 474045
Listing office Bryan Luong, CCIM South Texas Prime Properties (713) 530-8886
Listing date Jun 25, 2024
Source Crexi
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 Bryan Luong, CCIM South Texas Prime Properties
HighLights
- Steady 85% occupancy rate ensures consistent income.
- Prime location in the thriving Channelview area with easy access to I‑10 East.
- Recent upgrades in 2024 including new AC units, vinyl flooring, paint, and lighting.
- High visibility and strong demographics with a large surrounding population.
- 14 units on a corner lot with convenient onsite parking and a fenced yard.
- Discount rates offer an attractive investment opportunity.
Overview
This multifamily property, located at 14302 Laredo St. in Houston, Texas, presents an investment opportunity in the Channelview area. Constructed in 1984 and 1985 and remodeled in 2015 with upgrades in 2024, the property consists of 14 units. The 6,968 square foot building is situated on an 11,000 square foot corner lot. It features on-site parking and a fenced yard. The building's exterior is constructed of frame and stucco. There are 23 parking spaces available. The property benefits from high visibility and strong demographics, with a surrounding population of over 165,000 within a 1 to 5-mile radius. It has an 85% occupancy rate. The property has easy access to I-10 East.
Local 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 | $153.0k | $21.96 |
| − Vacancy | −$9.5k | −$1.36 |
| EGI | $143.5k | $20.60 |
| − OpEx | −$64.6k | −$9.27 |
| NOI | $78.9k | $11.33 |
6,968 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$986.8K – $1.32M
NOI $78,942 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,424 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Cloverleaf Properties
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Fort Bend
- State
- Texas
- Longitude
- -95.169458
- Latitude
- 29.781268
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 14-unit apartment complex in Channelview area with high occupancy.
Where is this apartment building located?
The property is located at 14302 Laredo St Houston, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Steady 85% occupancy rate ensures consistent income.; Prime location in the thriving Channelview area with easy access to I‑10 East.; Recent upgrades in 2024 including new AC units, vinyl flooring, paint, and lighting.
