Gated Courtyard Triplex
For Sale
$659,700
3108 Lee Street, Houston, TX 77026
Three newly built residences within a gated courtyard community, configured for flexible short- or long-term rental use.
Property Size2,880 SF
Days on Market113
Property Features for 3108 Lee Street
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,267
Building Details
Building Size
2,880 SF
Listing Agency:
Brooks & Davis Real Estate
Listed By:
Andre Beraud · License #0667248
(832) 524-4526
Source:
Greenwoodking
Added: Jun 17
Changed: Oct 5
Last Checked: Oct 5 at 10:35PM
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 Brooks & Davis Real Estate
Investment Insights
Based on property information with market context.
This portfolio offers three brand new residential units presented together as a single investment. The property is a gated community centered on a shared courtyard, designed to provide privacy while keeping a common gathering area. Each home includes two bedrooms and two and a half bathrooms, with high ceilings and modern, upscale finishes. Interiors feature gourmet kitchens with quartz countertops and stainless steel appliances, complemented by porcelain tile and laminate flooring. Each primary suite functions as a private retreat with its own en-suite bathroom.
Located in Houston’s French Town 5th Ward, the community is positioned for convenience to key destinations, with Downtown approximately two minutes away and George Bush Intercontinental Airport (IAH) about 20 minutes away. Bike and walkability metrics are reflected by a bikeScore of 74 and walkScore of 58, with a transitScore of 51.
The combined setup is well suited for buyers seeking a multi-unit residential asset with a flexible tenanting approach. The homes are specifically described as a configuration that can work for short-term rentals such as Airbnb/VRBO, or as a cohesive long-term rental community. With three distinct 2-bedroom, 2.5-bath layouts within the same gated courtyard environment, the property offers an operator the ability to manage multiple residences under one roof.
Located in Houston’s French Town 5th Ward, the community is positioned for convenience to key destinations, with Downtown approximately two minutes away and George Bush Intercontinental Airport (IAH) about 20 minutes away. Bike and walkability metrics are reflected by a bikeScore of 74 and walkScore of 58, with a transitScore of 51.
The combined setup is well suited for buyers seeking a multi-unit residential asset with a flexible tenanting approach. The homes are specifically described as a configuration that can work for short-term rentals such as Airbnb/VRBO, or as a cohesive long-term rental community. With three distinct 2-bedroom, 2.5-bath layouts within the same gated courtyard environment, the property offers an operator the ability to manage multiple residences under one roof.
Key Highlights
- Portfolio of 3 brand‑new residences offered together in Houston’s French Town 5th Ward
- Gated courtyard community with a central courtyard and privacy for residents
- Each home features 2 bedrooms and 2.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,721
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$754,420
$754.4K
Cap Rate 7%
$538,871
$538.9K
Cap Rate 9%
$419,122
$419.1K
Market Conditions
NOI Build-Up for 2,880 SF
Gross rent
$57.0K $19.80/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$53.9K $18.71/SF
− OpEx
−$16.2K −$5.61/SF
NOI
$37.7K $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%
$754,420
Cap Rate 7%
$538,871
Cap Rate 9%
$419,122
Alternative Uses
Best Use
Multifamily LT 5
$538.9K
$471.5K – $628.7K
NOI $37,721 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$466.1K
$407.9K – $543.8K
NOI $32,628 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
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Business Placement
Demographics for 77026, TX
23,405
Population
9,580
Households
2.4
Avg Household Size
36
Median Age
9%
College-Educated
70%
High-School Grad
6.6 sq mi
ZIP Area
3,546
Density / Sq Mi
$34,835
Median Household Income
$29,339
Median Earnings
$962
Median Rent
$104,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three newly built residences within a gated courtyard community, configured for flexible short- or long-term rental use.
Where is this triplex located?
The property is located at 3108 Lee Street Houston, TX.
What is the asking price?
The asking price for this property is $659,700.
What are key features of this property?
This property features: Portfolio of 3 brand‑new residences offered together in Houston’s French Town 5th Ward; Gated courtyard community with a central courtyard and privacy for residents; Each home features 2 bedrooms and 2.5 bathrooms
