Furnished Apartment
For Sale
Contact for pricing
2004 Binz St, Houston, TX 77004
Recently built, furnished apartment asset with an established short-term rental operating history and existing operating systems.
Property Size12,147 SF
Price / SF$378.69
Days on Market52
Property Features for 2004 Binz St
General Information
Standard status
Active
Size
12,147 SF
Total Parking Spaces
22
Property subtype
Multifamily
Zoning
Commercial
Investment Type
Stabilized
Net Operating Income
$307,000
Additional Details
Furnished
Yes
Building Details
Year Built
2024
Buildings
2
Units
18
Tenancy
Multi
Listed By:
Shawn Motamedi · License #852920
Source:
Crexi
Added: Aug 29
Changed: Oct 14
Last Checked: Oct 16 at 8:57AM
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 Shawn Motamedi
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Investment Insights
Based on property information with market context.
Built in 2024, this 12,147-square-foot apartment building is furnished and operational, with an established history as a short-term rental property. The asset is currently owner-operated and includes existing systems, vendor relationships, and operating procedures supporting ongoing operations.
The property is zoned Commercial and may support continued short-term rental operations or adaptation for corporate housing, mid-term rentals, or traditional long-term leasing, subject to applicable requirements. Its Houston location is identified as being near employment, medical, and institutional demand drivers.
The property is zoned Commercial and may support continued short-term rental operations or adaptation for corporate housing, mid-term rentals, or traditional long-term leasing, subject to applicable requirements. Its Houston location is identified as being near employment, medical, and institutional demand drivers.
Key Highlights
- 12,147‑square‑foot apartment building completed in 2024
- Furnished and operational property
- Established short‑term rental operating history
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,615
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,752,300
$2.8M
Cap Rate 7%
$1,965,929
$2.0M
Cap Rate 9%
$1,529,056
$1.5M
Market Conditions
NOI Build-Up for 12,147 SF
Gross rent
$266.7K $21.96/SF
− Vacancy
−$16.5K −$1.36/SF
EGI
$250.2K $20.60/SF
− OpEx
−$112.6K −$9.27/SF
NOI
$137.6K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,752,300
Cap Rate 7%
$1,965,929
Cap Rate 9%
$1,529,056
Alternative Uses
Best Use
Apartment 5plus
$1.97M
$1.72M – $2.29M
NOI $137,615 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,646 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Recently built, furnished apartment asset with an established short-term rental operating history and existing operating systems.
Where is this apartment building located?
The property is located at 2004 Binz St Houston, TX.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: 12,147‑square‑foot apartment building completed in 2024; Furnished and operational property; Established short‑term rental operating history
