Stabilized 16-Unit Multifamily
1718 Crownover Rd Houston, TX 77080
1718 Crownover Rd, Houston, TX, 77080
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For Sale
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Well-maintained 16-unit multifamily with a mix of one- and two-bedroom apartments and fully occupied status.
Property Size12,662 SF
Lot Size0.37 Acres
Price / SF$221.13
Days on Market166
Property Features for 1718 Crownover Rd
General Information
- Standard status
- Active
- Size
- 12,662 SF
- Lot size
- 0.37 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1960
Listing agency
Paramount Commercial Real Estate LLC
Listed by
Adolfo Landa · License #0731864
Source
Crexi
Added: Feb 6 Updated: Jul 21 at 2:58AM Checked: Jul 21 at 2:58AM
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 Paramount Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This well-maintained 16-unit multifamily property features a two-story wood-frame building with a brick façade. The apartment mix includes one-bedroom and two-bedroom floor plans, with unit sizes averaging approximately 791 square feet. The current offering reflects ongoing maintenance and recent improvements, and the property is operating with stabilized operations.
The community sits on approximately 0.37 acres and includes paved parking, perimeter fencing, and centralized access. The property is currently fully occupied.
Unit configuration includes 2 two-bedroom / two-bath units, 6 two-bedroom / one-and-a-half-bath units, and 8 one-bedroom / one-bath units. The subject is presented as a stabilized investment in an established Northwest Houston submarket.
The community sits on approximately 0.37 acres and includes paved parking, perimeter fencing, and centralized access. The property is currently fully occupied.
Unit configuration includes 2 two-bedroom / two-bath units, 6 two-bedroom / one-and-a-half-bath units, and 8 one-bedroom / one-bath units. The subject is presented as a stabilized investment in an established Northwest Houston submarket.
Key Highlights
- 16‑unit multifamily built in 1960 at 1718 Crownover Road, northwest Houston submarket
- Fully occupied with stabilized operations and strong tenant demand
- Unit mix: 2x 2 bed/2 bath (~1,020 SF) at $1,450/mo; 6x 2 bed/1.5 bath (~817 SF) at $1,450/mo; 8x 1 bed/1 bath (~715 SF) at $1,225/mo
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 | $278.1k | $21.96 |
| − Vacancy | −$17.2k | −$1.36 |
| EGI | $260.8k | $20.60 |
| − OpEx | −$117.4k | −$9.27 |
| NOI | $143.4k | $11.33 |
12,662 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.05M
$1.79M – $2.39M
NOI $143,450 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $227,916 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Crown Village Apartments
Apartment Building
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-maintained 16-unit multifamily with a mix of one- and two-bedroom apartments and fully occupied status.
Where is this apartment building located?
The property is located at 1718 Crownover Rd Houston, TX.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 16‑unit multifamily built in 1960 at 1718 Crownover Road, northwest Houston submarket; Fully occupied with stabilized operations and strong tenant demand; Unit mix: 2x 2 bed/2 bath (~1,020 SF) at $1,450/mo; 6x 2 bed/1.5 bath (~817 SF) at $1,450/mo; 8x 1 bed/1 bath (~715 SF) at $1,225/mo
