Berry St Multifamily Investment
2819 Berry St, Houston, TX 77004
Value-add multifamily property near University of Houston and Texas Southern.
Type:Multifamily
Property size:
9,226 SFPrice / SF:
$130/SF- Added:
- Mar 2, 2026
- Days on Market:
- 129
- Last Refresh:
- Jun 28 at 9:09 am
Property Features for 2819 Berry St
General Information
- Standard status
- Active
- Size
- 9,226 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1947
Listing office ReMax Commercial Real Estate Advisors
Listing date Mar 2, 2026
Source Crexi
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 ReMax Commercial Real Estate Advisors
HighLights
- Value‑add investment opportunity with potential to increase NOI through strategic upgrades to five classic units.
- Seven units are already leased at market rents of $1,200/month, providing immediate income.
- Excellent location near the University of Houston, Texas Southern University, public transportation, and downtown Houston.
- Significant infrastructure improvements completed, including sewer line and plumbing repairs, reducing operational risk.
- On‑site parking and tenant laundry facility enhance tenant appeal.
- Opportunity to step in at cost, inheriting a project with reduced operational risk and time commitment.
Overview
Located minutes from the University of Houston and Texas Southern University, 2819 Berry St presents a value-add investment opportunity. The property consists entirely of spacious 2-bedroom, 1-bathroom units. Seven units have been recently renovated and are leased at market rents of $1,200/month. The remaining five classic units provide further potential to boost net operating income through strategic upgrades. The property features on-site parking and a tenant laundry facility. It offers proximity to major universities, public transportation, and downtown Houston, making it attractive to students and young professionals. The current owner has invested over $20,000 in critical infrastructure improvements, including repairs to the sewer line and plumbing system beneath the building. The seller is shifting focus toward more passive investments and is looking to exit this value-add project early. The property offers both stability and significant growth potential in a rapidly evolving submarket. The property size is 9,226 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $202.6k | $21.96 |
| − Vacancy | −$12.6k | −$1.36 |
| EGI | $190.0k | $20.60 |
| − OpEx | −$85.5k | −$9.27 |
| NOI | $104.5k | $11.33 |
9,226 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,523 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,068 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Holden It Down
Gym & Fitness Center
Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Fort Bend
- State
- Texas
- Longitude
- -95.362722
- Latitude
- 29.729616
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Value-add multifamily property near University of Houston and Texas Southern.
Where is this apartment building located?
The property is located at 2819 Berry St Houston, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Value‑add investment opportunity with potential to increase NOI through strategic upgrades to five classic units.; Seven units are already leased at market rents of $1,200/month, providing immediate income.; Excellent location near the University of Houston, Texas Southern University, public transportation, and downtown Houston.
