12-Unit Apartment
1914 Larrabee Street 1-12, Seabrook, TX 77586
For Sale
$998,000
The complex offers a balanced unit mix, covered parking, private fenced yards, and shared laundry facilities.
Property Size9,251 SF
Price / SF$107.88
Days on Market129
Property Features for 1914 Larrabee Street 1-12
General Information
Standard status
Size
Property subtype
Net Operating Income
Units
Unit Mix
Multifamily Units
Parking per Unit
Taxes and HOA fees
Annual Taxes
Amenities
onsite laundry
private fenced backyards
Carpet,Plank,Tile,Vinyl
Yes
1
2
Low-Emissivity Windows,Window Coverings
Common Area
Owner
Granite Counters,Window Treatments,Ceiling Fan(s),Programmable Thermostat
19585
One
Appraiser
Carport
Private Entrance
9251
Building Details
Building Size
Year Built
Stories
Listing Agency:
Bay Area Elite Properties LLC
(281) 549-6565
Listed By:
Krystyna Fennelly · License #516250
(832) 643-7451
Source:
Garygreene
Added: Jul 2
Changed: Nov 6
Last Checked: Nov 6 at 5:31AM
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 Bay Area Elite Properties LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9,251-square-foot apartment property contains 12 units, including four two-bedroom, one-bath residences and eight one-bedroom, one-bath residences. The two-bedroom units include individually fenced backyard areas. Property improvements include low-emissivity double-pane windows, updated water heaters, PEX plumbing, and one covered parking space per unit. HVAC systems have been replaced in 10 units within the last 4 years. Built in 1963, the complex also provides an onsite laundry room with two coin-operated washers and two coin-operated dryers.
The property is located in Seabrook, within walking distance of Clear Lake watercraft rentals, waterfront restaurants, and nightlife. Its unit configuration and mix of private outdoor areas, parking, and common laundry support a range of residential occupancy needs.
The property is located in Seabrook, within walking distance of Clear Lake watercraft rentals, waterfront restaurants, and nightlife. Its unit configuration and mix of private outdoor areas, parking, and common laundry support a range of residential occupancy needs.
Key Highlights
- 12‑unit complex totaling 9,251 SF
- Unit mix includes four 2‑bedroom/1‑bath and eight 1‑bedroom/1‑bath units
- Private fenced backyards accompany all four 2‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,334
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,226,680
$1.2M
Cap Rate 7%
$876,200
$876.2K
Cap Rate 9%
$681,489
$681.5K
Market Conditions
NOI Build-Up for 9,251 SF
Gross rent
$123.2K $13.32/SF
− Vacancy
−$11.7K −$1.27/SF
EGI
$111.5K $12.05/SF
− OpEx
−$50.2K −$5.42/SF
NOI
$61.3K $6.63/SF
Area
Harris County, TX
Vacancy
9.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,226,680
Cap Rate 7%
$876,200
Cap Rate 9%
$681,489
Alternative Uses
Best Use
Apartment 5plus
$876.2K
$766.7K – $1.02M
NOI $61,334 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $176,820 @ 7.0% cap · market cap 17.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 77586, TX
23,503
Population
10,419
Households
2.3
Avg Household Size
41
Median Age
44%
College-Educated
92%
High-School Grad
11.7 sq mi
ZIP Area
2,009
Density / Sq Mi
$115,301
Median Household Income
$60,392
Median Earnings
$1,421
Median Rent
$325,700
Median Home Value
Market
Properties on Market for Apartment buildings in Harris County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The complex offers a balanced unit mix, covered parking, private fenced yards, and shared laundry facilities.
Where is this apartment building located?
The property is located at 1914 Larrabee Street 1-12 Seabrook, TX.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: 12‑unit complex totaling 9,251 SF; Unit mix includes four 2‑bedroom/1‑bath and eight 1‑bedroom/1‑bath units; Private fenced backyards accompany all four 2‑bedroom units
