Six-Unit Apartment
311 E 10th St, Houston, TX 77008
For Sale
$2,200,000
Three two-story buildings provide six residences with private patios, upgraded kitchens, and separate utility metering.
Property Size7,286 SF
Days on Market56
Property Features for 311 E 10th St
General Information
Standard status
Size
Property subtype
Lease Term
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
TEXAS PREMIER REALTY
Listed By:
Randall Lewis · License TX #0461637
(713) 542-8631
Source:
Elliman
Added: Sep 18
Changed: Nov 9
Last Checked: Nov 12 at 8:43AM
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 TEXAS PREMIER REALTY
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Investment Insights
Based on property information with market context.
This multifamily property includes three two-story buildings with six total two-bedroom, one-and-a-half-bath units. Residences feature wood or tile flooring, bedrooms located upstairs, granite kitchen counters, breakfast areas, spacious dens, and private patios. The property also includes a three-car garage and off-street parking.
Each unit has its own electric meter and HVAC unit, for six of each across the property. The landlord pays water and lawn care. The offering consists of two lots measuring 6,600 square feet each and is fully leased. Built in 1977, the property is located at 311 E 10th St in Houston, with a Walk Score of 84, a Bike Score of 79, and a Transit Score of 42.
Each unit has its own electric meter and HVAC unit, for six of each across the property. The landlord pays water and lawn care. The offering consists of two lots measuring 6,600 square feet each and is fully leased. Built in 1977, the property is located at 311 E 10th St in Houston, with a Walk Score of 84, a Bike Score of 79, and a Transit Score of 42.
Key Highlights
- Six total 2‑bedroom, 1.5‑bath units across three 2‑story buildings
- Two 6,600‑square‑foot lots included
- Six separate electric meters and six HVAC units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,544
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,650,880
$1.7M
Cap Rate 7%
$1,179,200
$1.2M
Cap Rate 9%
$917,156
$917.2K
Market Conditions
NOI Build-Up for 7,286 SF
Gross rent
$160.0K $21.96/SF
− Vacancy
−$9.9K −$1.36/SF
EGI
$150.1K $20.60/SF
− OpEx
−$67.5K −$9.27/SF
NOI
$82.5K $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%
$1,650,880
Cap Rate 7%
$1,179,200
Cap Rate 9%
$917,156
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,544 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,148 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,416
Businesses Nearby
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Business Placement
Demographics for 77008, TX
36,631
Population
20,709
Households
1.8
Avg Household Size
36
Median Age
72%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
5,636
Density / Sq Mi
$142,414
Median Household Income
$84,642
Median Earnings
$1,567
Median Rent
$609,300
Median Home Value
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Market
Properties on Market for Apartment buildings in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Three two-story buildings provide six residences with private patios, upgraded kitchens, and separate utility metering.
Where is this apartment building located?
The property is located at 311 E 10th St Houston, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Six total 2‑bedroom, 1.5‑bath units across three 2‑story buildings; Two 6,600‑square‑foot lots included; Six separate electric meters and six HVAC units
