Renovated Fourplex Investment
For Sale
$620,000
2209 Gano St, Houston, TX 77009
Four residences are renovated and currently leased, providing an established multifamily asset in Houston.
Property Size3,076 SF
Price / SF$201.56
Days on Market86
Property Features for 2209 Gano St
General Information
Standard status
Active
Size
3,076 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Neighborhood
Near Northside
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
4
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Liuver Sanudo
(832) 902-8534
Source:
Exprealty
Added: Aug 10
Changed: Oct 25
Last Checked: Nov 1 at 11:31AM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This fourplex at 2209 Gano St in Houston contains four residential units: three with two bedrooms and one bathroom, plus one with three bedrooms and one bathroom. The property was built in 1935 and has undergone a full renovation. All four residences are currently occupied, allowing a buyer to acquire an operating multifamily property rather than begin with vacant units or deferred renovation work.
The property is located in Houston, TX 77009. Mobility scores include a 44 bike score, a 47 walk score, and a 46 transit score, reflecting some transit access, limited walkability, and a car-dependent setting.
The property is located in Houston, TX 77009. Mobility scores include a 44 bike score, a 47 walk score, and a 46 transit score, reflecting some transit access, limited walkability, and a car-dependent setting.
Key Highlights
- Four‑unit multifamily property at 2209 Gano St, Houston, TX 77009
- Unit mix includes three 2‑bedroom / 1‑bath units and one 3‑bedroom / 1‑bath unit
- Entire property has been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,289
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$805,780
$805.8K
Cap Rate 7%
$575,557
$575.6K
Cap Rate 9%
$447,656
$447.7K
Market Conditions
NOI Build-Up for 3,076 SF
Gross rent
$60.9K $19.80/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$57.6K $18.71/SF
− OpEx
−$17.3K −$5.61/SF
NOI
$40.3K $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%
$805,780
Cap Rate 7%
$575,557
Cap Rate 9%
$447,656
Alternative Uses
Best Use
Multifamily LT 5
$575.6K
$503.6K – $671.5K
NOI $40,289 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$497.8K
$435.6K – $580.8K
NOI $34,849 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$791.0K
$692.1K – $922.8K
NOI $55,368 @ 7.0% cap · market cap 8.93%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences are renovated and currently leased, providing an established multifamily asset in Houston.
Where is this quadplex located?
The property is located at 2209 Gano St Houston, TX.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Four‑unit multifamily property at 2209 Gano St, Houston, TX 77009; Unit mix includes three 2‑bedroom / 1‑bath units and one 3‑bedroom / 1‑bath unit; Entire property has been renovated
