Two-Building Apartment
For Sale
$725,000
2605 Aldine Westfield Road # 8, Houston, TX 77093
For sale multifamily with eight 1-bedroom units across two buildings, featuring central HVAC and hardwood floors.
Property Size5,848 SF
Days on Market109
Property Features for 2605 Aldine Westfield Road # 8
General Information
Standard status
Active
Size
5,848 SF
Property subtype
Multi Family,5 Plus
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$8,733
Amenities
pitched roofs
central HVAC
all hardwood floors
Building Details
Building Size
5,848 SF
Year Built
1960
Construction
all brick exteriors
Listing Agency:
Inner Loop West
Listed By:
Brian Janak
(832) 247-6333
Source:
Nancyalmodovar
Added: May 18
Changed: Sep 3
Last Checked: Sep 2 at 7:41PM
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 Inner Loop West
Investment Insights
Based on property information with market context.
This for-sale multifamily property consists of eight 1-bedroom units across two apartment buildings. Each unit is approximately ±700 NRSF and the property features all-brick exteriors with pitched roofs, central HVAC, and hardwood floors. The units have been owned by the same family since 1992, and the buildings are described as well maintained. The property also offers plenty of parking.
The address is 2605 Aldine Westfield Rd 8, Houston, TX 77093. BikeScore is 46, WalkScore is 56, and TransitScore is 45, each noted as somewhat in their respective categories. The adjacent large tract of land is described as having been redeveloped after selling to a major non-profit institution, with old dated retail stores removed.
Offers will be considered only when submitted in writing. The remarks state there are no tours without an offer and/or proof of funds, and tenants should not be disturbed.
The address is 2605 Aldine Westfield Rd 8, Houston, TX 77093. BikeScore is 46, WalkScore is 56, and TransitScore is 45, each noted as somewhat in their respective categories. The adjacent large tract of land is described as having been redeveloped after selling to a major non-profit institution, with old dated retail stores removed.
Offers will be considered only when submitted in writing. The remarks state there are no tours without an offer and/or proof of funds, and tenants should not be disturbed.
Key Highlights
- Eight 1‑bedroom multifamily units across two buildings
- About 700 NRSF per unit (all 1‑bedroom units)
- Central HVAC and hardwood floors throughout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,253
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,325,060
$1.3M
Cap Rate 7%
$946,471
$946.5K
Cap Rate 9%
$736,144
$736.1K
Market Conditions
NOI Build-Up for 5,848 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$128.4K $21.96/SF
− Vacancy
−$8.0K −$1.36/SF
EGI
$120.5K $20.60/SF
− OpEx
−$54.2K −$9.27/SF
NOI
$66.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,325,060
Cap Rate 7%
$946,471
Cap Rate 9%
$736,144
Alternative Uses
Best Use
Apartment 5plus
$946.5K
$828.2K – $1.10M
NOI $66,253 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.32M – $1.75M
NOI $105,264 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 77093, TX
47,736
Population
14,671
Households
3.3
Avg Household Size
31
Median Age
5%
College-Educated
51%
High-School Grad
12.0 sq mi
ZIP Area
3,978
Density / Sq Mi
$41,958
Median Household Income
$28,493
Median Earnings
$1,102
Median Rent
$122,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - For sale multifamily with eight 1-bedroom units across two buildings, featuring central HVAC and hardwood floors.
Where is this apartment building located?
The property is located at 2605 Aldine Westfield Road # 8 Houston, TX.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Eight 1‑bedroom multifamily units across two buildings; About 700 NRSF per unit (all 1‑bedroom units); Central HVAC and hardwood floors throughout
