4-Unit Multifamily
215 Avenue E, South Houston, TX 77587
For Sale
$329,000
Three units have long-term tenants, while the upper-right residence is currently vacant.
Property Size3,150 SF
Lot Size0.46 Acres
Days on Market17
Property Features for 215 Avenue E
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Road Access
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
playground area
Building Details
Building Size
Year Built
Listing Agency:
Texas Signature Realty
Listed By:
Sonia Estrada · License TX #0503019
(713) 444-0484
Source:
Mpowerrealtygroup
Added: Oct 25
Changed: Nov 8
Last Checked: Nov 8 at 11:56AM
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 Texas Signature Realty
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Investment Insights
Based on property information with market context.
Built in 1970, this four-unit multifamily property sits on a 20,000-square-foot site. Three residences are leased to long-term tenants; the upper-right unit is vacant. A playground area occupies part of the rear grounds, and a bayou borders the back of the property. The parcel is at the end of the road.
Key Highlights
- Four‑unit multifamily property on a 20,000‑square‑foot site
- Three of four units leased to long‑term tenants
- Vacant upper‑right unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,071
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,420
$481.4K
Cap Rate 7%
$343,871
$343.9K
Cap Rate 9%
$267,456
$267.5K
Market Conditions
NOI Build-Up for 3,150 SF
Gross rent
$37.8K $12.00/SF
− Vacancy
−$3.4K −$1.08/SF
EGI
$34.4K $10.92/SF
− OpEx
−$10.3K −$3.27/SF
NOI
$24.1K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,420
Cap Rate 7%
$343,871
Cap Rate 9%
$267,456
Alternative Uses
Best Use
Multifamily LT 5
$343.9K
$300.9K – $401.2K
NOI $24,071 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$298.4K
$261.1K – $348.1K
NOI $20,885 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$860.1K
$752.6K – $1.00M
NOI $60,208 @ 7.0% cap · market cap 18.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
604
Businesses Nearby
Explore this area
Business Placement
Demographics for 77587, TX
16,179
Population
5,549
Households
2.9
Avg Household Size
32
Median Age
9%
College-Educated
60%
High-School Grad
3.1 sq mi
ZIP Area
5,219
Density / Sq Mi
$52,407
Median Household Income
$30,669
Median Earnings
$1,174
Median Rent
$177,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Harris County, TX
Properties on Market for Quadplexes in Harris County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Three units have long-term tenants, while the upper-right residence is currently vacant.
Where is this quadplex located?
The property is located at 215 Avenue E South Houston, TX.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Four‑unit multifamily property on a 20,000‑square‑foot site; Three of four units leased to long‑term tenants; Vacant upper‑right unit
