Income-Producing
For Sale
$269,900
305 Johnson St, Pasadena, TX 77506
Three-unit income property with on-site parking in a somewhat walkable Pasadena setting.
Property Size1,500 SF
Price / SF$179.93
Days on Market49
Property Features for 305 Johnson St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1945
Listing Agency:
RA Brokers
Listed By:
Carolina Martinez · License #0801274
(713) 884-6290
Source:
Thebandpteam
Added: Sep 5
Changed: Oct 8
Last Checked: Oct 7 at 1:26PM
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 RA Brokers
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Investment Insights
Based on property information with market context.
This income-producing triplex was built in 1945 and includes parking for the occupants. The property is located at 305 Johnson St in Pasadena, Texas, with a Walk Score of 53, categorized as Somewhat Walkable, and a Bike Score of 53, categorized as Bikeable.
The asset is identified as a triplex, providing three residential units within one property. Additional photographs are forthcoming, and tenant privacy should be respected during any exterior review.
The asset is identified as a triplex, providing three residential units within one property. Additional photographs are forthcoming, and tenant privacy should be respected during any exterior review.
Key Highlights
- Three‑unit residential income property
- Built in 1945
- On‑site parking available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,082
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,640
$341.6K
Cap Rate 7%
$244,029
$244.0K
Cap Rate 9%
$189,800
$189.8K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$26.1K $17.40/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$24.4K $16.27/SF
− OpEx
−$7.3K −$4.88/SF
NOI
$17.1K $11.39/SF
Area
Pasadena, TX
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,640
Cap Rate 7%
$244,029
Cap Rate 9%
$189,800
Alternative Uses
Best Use
Multifamily LT 5
$244.0K
$213.5K – $284.7K
NOI $17,082 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$219.4K
$191.9K – $255.9K
NOI $15,355 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$495.0K
$433.1K – $577.5K
NOI $34,651 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
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Business Placement
Demographics for 77506, TX
34,431
Population
11,973
Households
2.9
Avg Household Size
31
Median Age
5%
College-Educated
57%
High-School Grad
11.3 sq mi
ZIP Area
3,047
Density / Sq Mi
$50,045
Median Household Income
$31,621
Median Earnings
$1,049
Median Rent
$131,800
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 - Three-unit income property with on-site parking in a somewhat walkable Pasadena setting.
Where is this triplex located?
The property is located at 305 Johnson St Pasadena, TX.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Three‑unit residential income property; Built in 1945; On‑site parking available
