Triplex with Garage
1745 Lexington St, Houston, TX 77098
For Sale
New
$1,195,000
Three residences comprise a two-story duplex and a renovated garage apartment.
Property Size3,503 SF
Days on Market1
Property Features for 1745 Lexington St
General Information
Standard status
Size
Property subtype
Lease Term
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
hardwood floors
arched openings
updated kitchens
backyard
mature trees
front porches
gated entry
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Realm Real Estate Professionals - Katy
Listed By:
Sofia Rallis · License TX #0609250
(832) 533-0040
Source:
Elliman
Added: Nov 12
Last Checked: Nov 12 at 2:21PM
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 Realm Real Estate Professionals - Katy
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Investment Insights
Based on property information with market context.
Built in 1939, this triplex combines a two-story duplex with a separate, newly renovated garage apartment. The duplex residences feature hardwood floors, arched openings, generous living and dining areas, and updated kitchens. The apartment has contemporary finishes, a kitchen, living area, bedroom, and updated bathroom. Outdoor features include a backyard, mature trees, front porches, and automated gated entry.
The property is near Houston’s Museum District, Medical Center, and Downtown, with restaurants, coffee shops, and entertainment destinations also noted in the surrounding area.
The property is near Houston’s Museum District, Medical Center, and Downtown, with restaurants, coffee shops, and entertainment destinations also noted in the surrounding area.
Key Highlights
- Three residential units: a two‑story duplex and a separate garage apartment
- Garage apartment recently renovated with contemporary finishes and an updated bath
- Duplex residences have hardwood floors, arched openings, and updated kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,881
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$917,620
$917.6K
Cap Rate 7%
$655,443
$655.4K
Cap Rate 9%
$509,789
$509.8K
Market Conditions
NOI Build-Up for 3,503 SF
Gross rent
$69.4K $19.80/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$65.5K $18.71/SF
− OpEx
−$19.7K −$5.61/SF
NOI
$45.9K $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%
$917,620
Cap Rate 7%
$655,443
Cap Rate 9%
$509,789
Alternative Uses
Best Use
Multifamily LT 5
$655.4K
$573.5K – $764.7K
NOI $45,881 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$566.9K
$496.1K – $661.4K
NOI $39,686 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$900.8K
$788.2K – $1.05M
NOI $63,054 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,195
Businesses Nearby
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Business Placement
Demographics for 77098, TX
15,717
Population
10,181
Households
1.5
Avg Household Size
36
Median Age
81%
College-Educated
99%
High-School Grad
1.8 sq mi
ZIP Area
8,732
Density / Sq Mi
$115,867
Median Household Income
$83,401
Median Earnings
$1,854
Median Rent
$777,700
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Houston, TX
Properties on Market for Triplexes in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three residences comprise a two-story duplex and a renovated garage apartment.
Where is this triplex located?
The property is located at 1745 Lexington St Houston, TX.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Three residential units: a two‑story duplex and a separate garage apartment; Garage apartment recently renovated with contemporary finishes and an updated bath; Duplex residences have hardwood floors, arched openings, and updated kitchens
