Four-Unit Apartment
For Sale
$550,000
1524 Halpern Street # 4, Houston, TX 77009
Four apartment units occupy a building constructed in 1972.
Property Size2,976 SF
Days on Market54
Property Features for 1524 Halpern Street # 4
General Information
Standard status
Active
Size
2,976 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,925
Building Details
Building Size
2,976 SF
Year Built
1972
Listing Agency:
COLDWELL BANKER CENTRAL
Listed By:
Russell Hernandez · License #0531041
(713) 906-6012
Source:
Nancyalmodovar
Added: Aug 26
Changed: Oct 16
Last Checked: Oct 16 at 5:59PM
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 COLDWELL BANKER CENTRAL
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Investment Insights
Based on property information with market context.
This multifamily property contains four apartment units within a building completed in 1972. The asset is located at 1524 Halpern Street #4 in Houston, Texas 77009.
Key Highlights
- Four apartment units
- Building constructed in 1972
- Located at 1524 Halpern Street #4, Houston, TX 77009
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,979
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$779,580
$779.6K
Cap Rate 7%
$556,843
$556.8K
Cap Rate 9%
$433,100
$433.1K
Market Conditions
NOI Build-Up for 2,976 SF
Gross rent
$58.9K $19.80/SF
− Vacancy
−$3.2K −$1.09/SF
EGI
$55.7K $18.71/SF
− OpEx
−$16.7K −$5.61/SF
NOI
$39.0K $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%
$779,580
Cap Rate 7%
$556,843
Cap Rate 9%
$433,100
Alternative Uses
Best Use
Multifamily LT 5
$556.8K
$487.2K – $649.7K
NOI $38,979 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$481.7K
$421.5K – $561.9K
NOI $33,716 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$765.3K
$669.6K – $892.8K
NOI $53,568 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartment units occupy a building constructed in 1972.
Where is this quadplex located?
The property is located at 1524 Halpern Street # 4 Houston, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four apartment units; Building constructed in 1972; Located at 1524 Halpern Street #4, Houston, TX 77009
