Four-Plex Residential Income
For Sale
$899,000
1657 Bonnie Brae St, Houston, TX 77006
Well-appointed 1-bedroom units with updated interiors, climate control, and on-site amenities in an inner-loop setting.
Property Size3,761 SF
Price / SF$239.03
Days on Market147
Property Features for 1657 Bonnie Brae St
General Information
Standard status
Active
Size
3,761 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Neartown - Montrose
Additional Details
Multifamily Units
4
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
eXp Realty LLC
Listed By:
Shawn Manderscheid · License #0463952
(281) 773-0195
Source:
Nova-era
Added: Jun 13
Changed: Oct 25
Last Checked: Oct 7 at 5:14PM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
1657 Bonnie Brae is a 4-plex configured as four 1-bedroom, 1-bathroom residences. Each unit includes designated living and dining areas, hardwood floors, neutral finishes, and mini-split heating and cooling for individual climate control. Kitchens and bathrooms are updated, and the units offer a spacious, comfortable layout. Shared conveniences include a central laundry, plus an impressive climate-controlled sunroom. The property also features outdoor spaces for relaxing and gathering, along with off-street garage parking.
The property is located in an inner loop area off Dunlavy between 69th and Richmond. Tenants have easy access to Downtown, the Medical Center, and the University of Houston, as well as the Museum District, restaurants, pubs, shopping, and everyday conveniences. Nearby recreation includes access to Mandell, Menil, and Dunlavy Parks.
This asset is designed for rental households seeking in-unit climate control, updated kitchen and bath finishes, and shared community amenities. Off-street garage parking and a central laundry support day-to-day convenience, while the climate-controlled sunroom and outdoor areas add usable space beyond the private interior.
The property is located in an inner loop area off Dunlavy between 69th and Richmond. Tenants have easy access to Downtown, the Medical Center, and the University of Houston, as well as the Museum District, restaurants, pubs, shopping, and everyday conveniences. Nearby recreation includes access to Mandell, Menil, and Dunlavy Parks.
This asset is designed for rental households seeking in-unit climate control, updated kitchen and bath finishes, and shared community amenities. Off-street garage parking and a central laundry support day-to-day convenience, while the climate-controlled sunroom and outdoor areas add usable space beyond the private interior.
Key Highlights
- 4‑plex built in 1930 with 1‑bedroom, 1‑bath units
- Updated kitchens and bathrooms in each unit
- Each unit features designated living and dining areas and hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,260
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$985,200
$985.2K
Cap Rate 7%
$703,714
$703.7K
Cap Rate 9%
$547,333
$547.3K
Market Conditions
NOI Build-Up for 3,761 SF
Gross rent
$74.5K $19.80/SF
− Vacancy
−$4.1K −$1.09/SF
EGI
$70.4K $18.71/SF
− OpEx
−$21.1K −$5.61/SF
NOI
$49.3K $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%
$985,200
Cap Rate 7%
$703,714
Cap Rate 9%
$547,333
Alternative Uses
Best Use
Multifamily LT 5
$703.7K
$615.8K – $821.0K
NOI $49,260 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$608.7K
$532.6K – $710.2K
NOI $42,609 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$967.1K
$846.2K – $1.13M
NOI $67,698 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,235
Businesses Nearby
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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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Well-appointed 1-bedroom units with updated interiors, climate control, and on-site amenities in an inner-loop setting.
Where is this quadplex located?
The property is located at 1657 Bonnie Brae St Houston, TX.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4‑plex built in 1930 with 1‑bedroom, 1‑bath units; Updated kitchens and bathrooms in each unit; Each unit features designated living and dining areas and hardwood floors
