Five-Unit Apartment
For Sale
Contact for pricing
3435 Rosedale St., Houston, TX 77004
Two residential buildings provide a varied unit mix in Houston’s University of Houston and Texas Medical Center corridor.
Property Size3,564 SF
Lot Size0.15 Acres
Price / SF$143.10
Days on Market17
Property Features for 3435 Rosedale St.
General Information
Standard status
Active
Size
3,564 SF
Lot size
0.15 Acres
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$41,352
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 1BR, 2 x 2BR
Multifamily Units
5
Building Details
Year Built
1945
Buildings
2
Units
5
Tenancy
Multi
Listing Agency:
NORTHPEAK Commercial Advisors
Listed By:
Matt Lewallen · License #CO FA.100022835
Source:
Crexi
Added: Aug 18
Changed: Aug 28
Last Checked: Sep 1 at 4:28AM
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 NORTHPEAK Commercial Advisors
Investment Insights
Based on property information with market context.
This apartment property includes two residential buildings totaling 3,564 square feet on a 6,600-square-foot lot. Built in 1945, the five-unit configuration includes three one-bedroom apartments and two two-bedroom apartments. All units are occupied, and tenant utility reimbursements support the current operating structure.
The property is positioned near the University of Houston, Texas Southern University, the Texas Medical Center, Hermann Park, the Museum District, and Downtown Houston. SH-288 and Interstate 45 are also identified among the major transportation connections serving the area.
The property is positioned near the University of Houston, Texas Southern University, the Texas Medical Center, Hermann Park, the Museum District, and Downtown Houston. SH-288 and Interstate 45 are also identified among the major transportation connections serving the area.
Key Highlights
- Five‑unit property with three one‑bedroom and two two‑bedroom apartments
- Two residential buildings totaling 3,564 square feet
- Situated on a 6,600‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,377
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$807,540
$807.5K
Cap Rate 7%
$576,814
$576.8K
Cap Rate 9%
$448,633
$448.6K
Market Conditions
NOI Build-Up for 3,564 SF
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.
Gross rent
$78.3K $21.96/SF
− Vacancy
−$4.9K −$1.36/SF
EGI
$73.4K $20.60/SF
− OpEx
−$33.0K −$9.27/SF
NOI
$40.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$807,540
Cap Rate 7%
$576,814
Cap Rate 9%
$448,633
Alternative Uses
Best Use
Apartment 5plus
$576.8K
$504.7K – $673.0K
NOI $40,377 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$916.5K
$801.9K – $1.07M
NOI $64,152 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
987
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?
Apartment building - Two residential buildings provide a varied unit mix in Houston’s University of Houston and Texas Medical Center corridor.
Where is this apartment building located?
The property is located at 3435 Rosedale St. Houston, TX.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Five‑unit property with three one‑bedroom and two two‑bedroom apartments; Two residential buildings totaling 3,564 square feet; Situated on a 6,600‑square‑foot lot
