New Houston Multifamily Investment
For Sale
$1,375,000
319 Eastwood Street, Houston, TX 77011
Newly constructed 6-plex near Downtown Houston with modern amenities.
Property Size3,520 SF
Days on Market183
Property Features for 319 Eastwood Street
General Information
Standard status
Active
Size
3,520 SF
Property subtype
Multi Family,5 Plus
Taxes and HOA fees
Annual Taxes
$14,766
Building Details
Building Size
3,520 SF
Year Built
2024
Listing Agency:
UTR TEXAS, REALTORS
Listed By:
Lynne LaQue · License #0682837
(713) 292-6200
Source:
Greenwoodking
Added: Apr 8
Changed: Oct 4
Last Checked: Oct 5 at 11:32PM
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 UTR TEXAS, REALTORS
Investment Insights
Based on property information with market context.
This newly constructed 6-plex is located on Eastwood St in Houston's urban core, near Downtown Houston and steps from the Greenway transit line. Each unit features custom kitchen amenities, premium stainless steel appliances, luxurious bathroom fixtures, and engineered wood floors. Units also include an in-unit utility room, modern finishes, and open-concept layouts. The property is designed for low maintenance and to attract quality tenants. The bike score is 66, indicating it is bikeable. The walk score is 65, indicating it is somewhat walkable. The transit score is 60, indicating good transit.
Key Highlights
- Newly Constructed 6‑Plex (2025) - Low Maintenance, Modern Finishes
- Prime Location Near Downtown Houston in a Rapidly Growing Urban Core
- Steps from Greenway Transit Line (Transit Score: 60)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,879
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$797,580
$797.6K
Cap Rate 7%
$569,700
$569.7K
Cap Rate 9%
$443,100
$443.1K
Market Conditions
NOI Build-Up for 3,520 SF
Gross rent
$77.3K $21.96/SF
− Vacancy
−$4.8K −$1.36/SF
EGI
$72.5K $20.60/SF
− OpEx
−$32.6K −$9.27/SF
NOI
$39.9K $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%
$797,580
Cap Rate 7%
$569,700
Cap Rate 9%
$443,100
Alternative Uses
Best Use
Apartment 5plus
$569.7K
$498.5K – $664.7K
NOI $39,879 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$905.1K
$792.0K – $1.06M
NOI $63,360 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed 6-plex near Downtown Houston with modern amenities.
Where is this apartment building located?
The property is located at 319 Eastwood Street Houston, TX.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Newly Constructed 6‑Plex (2025) - Low Maintenance, Modern Finishes; Prime Location Near Downtown Houston in a Rapidly Growing Urban Core; Steps from Greenway Transit Line (Transit Score: 60)
