Third Ward Multifamily Investment
For Sale
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2712 Berry Street, Houston, TX 77004
Multifamily property in Third Ward with access to Downtown Houston.
Property Size2,520 SF
Price / SF$138.89
Days on Market880
Property Features for 2712 Berry Street
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Multifamily
Site & Location
Neighborhood
Greater Third Ward
Building Details
Year Built
1960
Buildings
2
Units
8
Listing Agency:
JPAR
Listed By:
Magdalena Cano
(936) 994-6202
Source:
Crexi
Added: May 30, 2024
Changed: Oct 26
Last Checked: Oct 24 at 3:18PM
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 JPAR
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property presents an investment opportunity in Houston's Third Ward. The property offers access to Downtown Houston and major roads and highways. Each building comprises two units, each featuring 2 bedrooms and 1 bath. Onsite parking is available in front of the buildings. The property size is 2520 square feet. Note that 2712 Berry St # 2 and 2716 Berry St #1 are currently occupied; please respect the tenants' privacy.
Key Highlights
- Prime location in the heart of Third Ward Houston.
- Ideal multi‑family investment opportunity.
- Direct access to Downtown Houston.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,549
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,980
$571.0K
Cap Rate 7%
$407,843
$407.8K
Cap Rate 9%
$317,211
$317.2K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$55.3K $21.96/SF
− Vacancy
−$3.4K −$1.36/SF
EGI
$51.9K $20.60/SF
− OpEx
−$23.4K −$9.27/SF
NOI
$28.5K $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%
$570,980
Cap Rate 7%
$407,843
Cap Rate 9%
$317,211
Alternative Uses
Best Use
Multifamily LT 5
$471.5K
$412.6K – $550.1K
NOI $33,006 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$407.8K
$356.9K – $475.8K
NOI $28,549 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$648.0K
$567.0K – $756.0K
NOI $45,360 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,318
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Multifamily property in Third Ward with access to Downtown Houston.
Where is this duplex located?
The property is located at 2712 Berry Street Houston, TX.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: Prime location in the heart of Third Ward Houston.; Ideal multi‑family investment opportunity.; Direct access to Downtown Houston.
