Corner-Lot Apartment
New
For Sale
$1,395,000
1625 Southmore Boulevard 10, Houston, TX 77004
Nearby light rail and highway connections link the property with the Texas Medical Center and central Houston destinations.
Property Size8,100 SF
Price / SF$172.22
Days on Market2
Property Features for 1625 Southmore Boulevard 10
General Information
Standard status
Active
Size
8,100 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Museum Park
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$23,986
Amenities
Yes
1
2
Appraiser
Balcony
Corner Lot
10000
One
Satellite Dish
Paved
8100
Building Details
Building Size
8,100 SF
Year Built
1965
Stories
2
Listing Agency:
The Sears Group
(713) 461-6800
Listed By:
Irene Mannion
(832) 692-8067
Source:
Garygreene
Added: Oct 23
Last Checked: Oct 23 at 4:05PM
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 The Sears Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Houston apartment building dates to 1965 and occupies a corner lot. A balcony is among its recorded interior features.
The property is near the Museum District, Hermann Park, the Texas Medical Center, and Houston’s Midtown and Central Business District. Highway access includes Hwy. 288 and I-59/69, with light rail also serving the area.
The property is near the Museum District, Hermann Park, the Texas Medical Center, and Houston’s Midtown and Central Business District. Highway access includes Hwy. 288 and I-59/69, with light rail also serving the area.
Key Highlights
- 1965 construction
- Corner‑lot setting
- Balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,766
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,835,320
$1.8M
Cap Rate 7%
$1,310,943
$1.3M
Cap Rate 9%
$1,019,622
$1.0M
Market Conditions
NOI Build-Up for 8,100 SF
Gross rent
$177.9K $21.96/SF
− Vacancy
−$11.0K −$1.36/SF
EGI
$166.8K $20.60/SF
− OpEx
−$75.1K −$9.27/SF
NOI
$91.8K $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%
$1,835,320
Cap Rate 7%
$1,310,943
Cap Rate 9%
$1,019,622
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,766 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,800 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,662
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
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?
Apartment building - Nearby light rail and highway connections link the property with the Texas Medical Center and central Houston destinations.
Where is this apartment building located?
The property is located at 1625 Southmore Boulevard 10 Houston, TX.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 1965 construction; Corner‑lot setting; Balcony
