6-Unit Apartment
New
For Sale
$1,350,000
2316 Sherwin Street, Houston, TX 77007
Three duplexes on a corner parcel are occupied under month-to-month leases.
Property Size6,912 SF
Days on Market4
Property Features for 2316 Sherwin Street
General Information
Standard status
Active
Size
6,912 SF
Total Parking Spaces
12
Property subtype
Multi Family,5 Plus
Property Condition
Severity
Repairs Needed
Evidence
needs work
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Parking per Unit
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,607
Building Details
Building Size
6,912 SF
Year Built
2002
Buildings
3
Listing Agency:
Century 21 Olympian Area Specialists
Listed By:
Solange Mariani · License #0663745
(832) 309-6874
Source:
Mpowerrealtygroup
Added: Oct 11
Changed: Oct 13
Last Checked: Oct 12 at 8:48PM
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 Century 21 Olympian Area Specialists
Investment Insights
Based on property information with market context.
This 2002 apartment property comprises three duplexes and six units. Each apartment has two bedrooms and one bathroom. The buildings have not been upgraded since construction and require work. Current occupancy is under month-to-month leases, and the site has 12 parking spaces, or two per unit.
The corner property is in Houston, near I-10 and Loop 610. The three duplexes are at 2312, 2316, and 2320 Sherwin Street. Unit layouts vary: the buildings at 2312 and 2316 have two-story apartments, while 2320 has one unit on each level.
The corner property is in Houston, near I-10 and Loop 610. The three duplexes are at 2312, 2316, and 2320 Sherwin Street. Unit layouts vary: the buildings at 2312 and 2316 have two-story apartments, while 2320 has one unit on each level.
Key Highlights
- Six apartments, each with two bedrooms and one bathroom
- Three duplex buildings at 2312, 2316, and 2320 Sherwin Street
- 12 parking spaces, with two allocated per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,307
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,566,140
$1.6M
Cap Rate 7%
$1,118,671
$1.1M
Cap Rate 9%
$870,078
$870.1K
Market Conditions
NOI Build-Up for 6,912 SF
Gross rent
$151.8K $21.96/SF
− Vacancy
−$9.4K −$1.36/SF
EGI
$142.4K $20.60/SF
− OpEx
−$64.1K −$9.27/SF
NOI
$78.3K $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%
$1,566,140
Cap Rate 7%
$1,118,671
Cap Rate 9%
$870,078
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$978.8K – $1.31M
NOI $78,307 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.07M
NOI $124,416 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 77007, TX
42,908
Population
26,281
Households
1.6
Avg Household Size
34
Median Age
80%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
5,721
Density / Sq Mi
$140,878
Median Household Income
$92,408
Median Earnings
$1,951
Median Rent
$501,300
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Three duplexes on a corner parcel are occupied under month-to-month leases.
Where is this apartment building located?
The property is located at 2316 Sherwin Street Houston, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six apartments, each with two bedrooms and one bathroom; Three duplex buildings at 2312, 2316, and 2320 Sherwin Street; 12 parking spaces, with two allocated per unit
