Renovated Four-Unit
3229 Holman Street # 4, Houston, TX 77004
For Sale
$485,000
Separate water and electric meters serve each residence, and tenants handle their own utilities.
Property Size1,632 SF
Days on Market11
Property Features for 3229 Holman Street # 4
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Resource Realty
Listed By:
Justin Dees
(832) 776-5939
Source:
Greenwoodking
Added: Nov 3
Changed: Nov 13
Last Checked: Nov 12 at 2:41PM
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 Resource Realty
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Investment Insights
Based on property information with market context.
This four-unit residential property was built in 1938 and has undergone renovation. Each residence offers one bedroom, one bathroom, a living area, and a kitchen in 408 square feet. Appliances include a stainless steel refrigerator, microwave, and electric stove; each unit also has a tankless water heater. Recent work includes foundation repair, roof, HVAC, plumbing, electrical, flooring, bathrooms, kitchens, bedrooms, and paint. The property is fully fenced, and each residence has its own water and electric meter.
The property is next to the University of Houston and Texas Southern University, near downtown Houston, and seven minutes from Toyota Center and Daikin Park. Tenants are responsible for utilities.
The property is next to the University of Houston and Texas Southern University, near downtown Houston, and seven minutes from Toyota Center and Daikin Park. Tenants are responsible for utilities.
Key Highlights
- Four residences, each with 1 bedroom, 1 bathroom, and 408 square feet
- Renovation work includes foundation repair, roof, HVAC, plumbing, and electrical
- Each unit has a separate water meter and electric meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,375
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,500
$427.5K
Cap Rate 7%
$305,357
$305.4K
Cap Rate 9%
$237,500
$237.5K
Market Conditions
NOI Build-Up for 1,632 SF
Gross rent
$32.3K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.5K $18.71/SF
− OpEx
−$9.2K −$5.61/SF
NOI
$21.4K $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%
$427,500
Cap Rate 7%
$305,357
Cap Rate 9%
$237,500
Alternative Uses
Best Use
Multifamily LT 5
$305.4K
$267.2K – $356.3K
NOI $21,375 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$264.1K
$231.1K – $308.2K
NOI $18,489 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$419.7K
$367.2K – $489.6K
NOI $29,376 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
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Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Houston, TX
Properties on Market for Quadplexes in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Separate water and electric meters serve each residence, and tenants handle their own utilities.
Where is this quadplex located?
The property is located at 3229 Holman Street # 4 Houston, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Four residences, each with 1 bedroom, 1 bathroom, and 408 square feet; Renovation work includes foundation repair, roof, HVAC, plumbing, and electrical; Each unit has a separate water meter and electric meter
