15-Unit Apartment
For Sale
$2,500,000
1849 W Main Street # 15, Houston, TX 77098
Three buildings offer laundry, garages, storage, parking, and central air conditioning for residents.
Property Size10,100 SF
Price / SF$231.48
Days on Market343
Property Features for 1849 W Main Street # 15
General Information
Standard status
Active
Size
10,100 SF
Property subtype
Multi Family,5 Plus
Additional Details
Multifamily Units
15
Amenities
on-site laundry
storage rooms
central AC
Building Details
Building Size
10,100 SF
Year Built
1940
Buildings
3
Listing Agency:
Boulevard Realty
(310) 307-9998
Listed By:
Amanda Smith
(310) 307-9998
Source:
Mpowerrealtygroup
Added: Aug 27, 2025
Changed: Aug 2
Last Checked: Aug 4 at 9:18AM
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 Boulevard Realty
Investment Insights
Based on property information with market context.
This 15-unit apartment property comprises two four-unit buildings and a seven-unit garden-style building totaling 10,800 SF. Units average 720 SF and include central AC. On-site features include laundry facilities, three garage units, two storage rooms, and ample parking. Front buildings have PEX plumbing with individual shut-offs.
Recent capital work includes roof replacements in 2020, electrical upgrades and parking-lot resurfacing in 2021, multiple HVAC replacements, new commercial laundry equipment, updated kitchens in two units, and several new water heaters. The Certificate of Occupancy was renewed in 2021. The property is located at 1849 W Main Street in Houston, Texas.
Recent capital work includes roof replacements in 2020, electrical upgrades and parking-lot resurfacing in 2021, multiple HVAC replacements, new commercial laundry equipment, updated kitchens in two units, and several new water heaters. The Certificate of Occupancy was renewed in 2021. The property is located at 1849 W Main Street in Houston, Texas.
Key Highlights
- 15‑unit apartment property with 10,800 SF across three buildings
- Two 4‑plex buildings plus a 7‑unit garden‑style building
- On‑site laundry, three garage units, two storage rooms, and ample parking
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 | $237.2k | $21.96 |
| − Vacancy | −$14.7k | −$1.36 |
| EGI | $222.5k | $20.60 |
| − OpEx | −$100.1k | −$9.27 |
| NOI | $122.4k | $11.33 |
10,800 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,355 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,400 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
3,110
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three buildings offer laundry, garages, storage, parking, and central air conditioning for residents.
Where is this apartment building located?
The property is located at 1849 W Main Street # 15 Houston, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 15‑unit apartment property with 10,800 SF across three buildings; Two 4‑plex buildings plus a 7‑unit garden‑style building; On‑site laundry, three garage units, two storage rooms, and ample parking
