Three-Unit Residential
New
For Sale
$1,050,000
235 Westheimer Road, Houston, TX 77006
Residential configuration includes a two-bedroom unit, a multi-level three-bedroom unit, and a detached rear residence.
Property Size3,922 SF
Days on Market6
Property Features for 235 Westheimer Road
General Information
Standard status
Active
Size
3,922 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Site & Location
Neighborhood
Midtown
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 3BR/2BA, 1 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$24,015
Amenities
fireplace
rooftop balcony
Building Details
Building Size
3,922 SF
Year Built
1929
Buildings
2
Listing Agency:
Clark Realty
Listed By:
Will Clark · License #0259190
(281) 412-3030
Source:
Mpowerrealtygroup
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 3 at 2:44PM
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 Clark Realty
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Investment Insights
Based on property information with market context.
This 1929 residential property contains three units. The front residence has two bedrooms, a full bathroom, a half bathroom, a living room with a fireplace, a dining room, a kitchen, and a utility room. A separate entrance serves the second unit, which spans the second and third floors and includes an open kitchen and living area, three bedrooms, two full bathrooms, and a utility room. An additional room on the upper level connects to rooftop balcony access. The rear building has its own kitchen, dining and living areas, and two bedrooms.
At 235 Westheimer Rd in Houston, the property has a Walk Score of 90, a bike score of 74, and a transit score of 59.
At 235 Westheimer Rd in Houston, the property has a Walk Score of 90, a bike score of 74, and a transit score of 59.
Key Highlights
- Three residential units across the main property and a separate rear building
- Front residence has two bedrooms, one full bathroom, and one half bathroom
- Second unit spans two floors and has three bedrooms and two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,369
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,027,380
$1.0M
Cap Rate 7%
$733,843
$733.8K
Cap Rate 9%
$570,767
$570.8K
Market Conditions
NOI Build-Up for 3,922 SF
Gross rent
$77.7K $19.80/SF
− Vacancy
−$4.3K −$1.09/SF
EGI
$73.4K $18.71/SF
− OpEx
−$22.0K −$5.61/SF
NOI
$51.4K $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%
$1,027,380
Cap Rate 7%
$733,843
Cap Rate 9%
$570,767
Alternative Uses
Best Use
Multifamily LT 5
$733.8K
$642.1K – $856.2K
NOI $51,369 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$634.8K
$555.4K – $740.6K
NOI $44,433 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$1.01M
$882.5K – $1.18M
NOI $70,596 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,488
Businesses Nearby
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Business Placement
Demographics for 77006, TX
24,129
Population
16,654
Households
1.4
Avg Household Size
36
Median Age
80%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
10,491
Density / Sq Mi
$102,003
Median Household Income
$73,275
Median Earnings
$1,761
Median Rent
$599,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Residential configuration includes a two-bedroom unit, a multi-level three-bedroom unit, and a detached rear residence.
Where is this triplex located?
The property is located at 235 Westheimer Road Houston, TX.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three residential units across the main property and a separate rear building; Front residence has two bedrooms, one full bathroom, and one half bathroom; Second unit spans two floors and has three bedrooms and two full bathrooms
