Four-Unit Multifamily
For Sale
$430,000
3405 Drew Street # 4, Houston, TX 77004
All residences are leased near Texas Southern University and the University of Houston.
Days on Market298
Property Features for 3405 Drew Street # 4
General Information
Standard status
Active
Property subtype
Multi Family,Quadruplex
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$6,840
Building Details
Building Size
3,120 SF
Year Built
1964
Tenancy
Multi
Listing Agency:
JLA Realty
(281) 409-9432
Listed By:
William Roane
(281) 409-9432
Source:
Mpowerrealtygroup
Added: Oct 9, 2025
Changed: Aug 2
Last Checked: Aug 2 at 3:21AM
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 JLA Realty
Investment Insights
Based on property information with market context.
This 1964-built quadplex contains four residential units, each configured with two bedrooms and one bathroom. The property is currently fully leased, providing an established rental setup for an investor evaluating a small multifamily asset.
The property is located at 3405 Drew Street in Houston’s Third Ward, approximately five minutes from Texas Southern University and three minutes from the University of Houston. Downtown Houston and the Medical Center are also identified as nearby destinations. The surrounding area is experiencing ongoing new construction and development activity.
The property is located at 3405 Drew Street in Houston’s Third Ward, approximately five minutes from Texas Southern University and three minutes from the University of Houston. Downtown Houston and the Medical Center are also identified as nearby destinations. The surrounding area is experiencing ongoing new construction and development activity.
Key Highlights
- Four residential units, each with 2 bedrooms and 1 bathroom
- Currently leased across all four units
- Built in 1964
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.5k | $21.96 |
| − Vacancy | −$4.2k | −$1.36 |
| EGI | $64.3k | $20.60 |
| − OpEx | −$28.9k | −$9.27 |
| NOI | $35.3k | $11.33 |
3,120 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$583.8K
$510.8K – $681.1K
NOI $40,865 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$505.0K
$441.8K – $589.1K
NOI $35,347 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$802.3K
$702.0K – $936.0K
NOI $56,160 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
778
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - All residences are leased near Texas Southern University and the University of Houston.
Where is this quadplex located?
The property is located at 3405 Drew Street # 4 Houston, TX.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 1 bathroom; Currently leased across all four units; Built in 1964
