Four-Unit
For Sale
$421,987
3405 Drew St Unit 4, Houston, TX 77004
Four occupied residences near Texas Southern University and the University of Houston, with two bedrooms and one bathroom per unit.
Property Size3,120 SF
Price / SF$135.25
Days on Market50
Property Features for 3405 Drew St Unit 4
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Greater Third Ward
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1964
Listing Agency:
JLA Realty
Listed By:
William Roane
(281) 409-9432
Source:
Doorstephomegroup
Added: Sep 6
Changed: Sep 24
Last Checked: Sep 29 at 11:37AM
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
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 3,120 square feet and was built in 1964. Each residence includes two bedrooms and one bathroom, providing a consistent configuration across the property. All four units are currently rented.
The property is located in Houston’s 3rd Ward, approximately 5 minutes from Texas Southern University and 3 minutes from the University of Houston. Downtown Houston and the Medical Center are also identified as nearby destinations.
The property is located in Houston’s 3rd Ward, approximately 5 minutes from Texas Southern University and 3 minutes from the University of Houston. Downtown Houston and the Medical Center are also identified as nearby destinations.
Key Highlights
- Four‑unit multifamily property with all units currently rented
- Each unit includes 2 bedrooms and 1 bathroom
- 3,120 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,347
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$706,940
$706.9K
Cap Rate 7%
$504,957
$505.0K
Cap Rate 9%
$392,744
$392.7K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$68.5K $21.96/SF
− Vacancy
−$4.2K −$1.36/SF
EGI
$64.3K $20.60/SF
− OpEx
−$28.9K −$9.27/SF
NOI
$35.3K $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%
$706,940
Cap Rate 7%
$504,957
Cap Rate 9%
$392,744
Alternative Uses
Best Use
Multifamily LT 5
$583.8K
$510.8K – $681.1K
NOI $40,865 @ 7.0% cap · market cap 9.68%
Second Best
Apartment 5plus
$505.0K
$441.8K – $589.1K
NOI $35,347 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$802.3K
$702.0K – $936.0K
NOI $56,160 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residences near Texas Southern University and the University of Houston, with two bedrooms and one bathroom per unit.
Where is this quadplex located?
The property is located at 3405 Drew St Unit 4 Houston, TX.
What is the asking price?
The asking price for this property is $421,987.
What are key features of this property?
This property features: Four‑unit multifamily property with all units currently rented; Each unit includes 2 bedrooms and 1 bathroom; 3,120 square feet of property size
