Renovated 4-Unit
3603 Bastrop Street, Houston, TX 77004
For Sale
$525,000
Four two-bedroom apartments are fully occupied, with private outdoor space for each unit based on its floor level.
Property Size2,112 SF
Days on Market36
Property Features for 3603 Bastrop Street
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
balconies
fenced backyards
granite kitchen countertops
luxury vinyl plank flooring
stackable washer/dryer
built-in stainless-steel microwave
stove/oven combo
refrigerator
tank-less water heats
ceiling fans
Building Details
Building Size
Year Built
Year Renovated
Listing Agency:
CB&A, Realtors
Listed By:
Rebecca V. Scullark · License TX #0627274
(281) 865-7980
Source:
Nancyalmodovar
Added: Oct 5
Changed: Nov 8
Last Checked: Nov 8 at 12:10PM
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 CB&A, Realtors
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Investment Insights
Based on property information with market context.
Built in 1949, this four-unit quadplex contains four 2-bedroom, 1-bathroom apartments. Two ground-floor units have small fenced backyards, while the two second-floor units include balconies. Renovations completed in 2021 brought granite kitchen counters, luxury vinyl plank flooring, stackable washer/dryers, built-in stainless-steel microwaves, stove-and-oven combinations, refrigerators, and tankless water heaters to the units. Each apartment also has two window units capable of heating and cooling.
Building work included PEX plumbing, a full electrical rewire, foundation repairs, and a roof replacement. The property is 100% occupied. Emancipation Park, the University of Houston, and Texas Southern University are described as close by, with downtown Houston a short distance away.
Building work included PEX plumbing, a full electrical rewire, foundation repairs, and a roof replacement. The property is 100% occupied. Emancipation Park, the University of Houston, and Texas Southern University are described as close by, with downtown Houston a short distance away.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- All units renovated in 2021
- Each unit has two heating and cooling window units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,662
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,240
$553.2K
Cap Rate 7%
$395,171
$395.2K
Cap Rate 9%
$307,356
$307.4K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$41.8K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$39.5K $18.71/SF
− OpEx
−$11.9K −$5.61/SF
NOI
$27.7K $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%
$553,240
Cap Rate 7%
$395,171
Cap Rate 9%
$307,356
Alternative Uses
Best Use
Multifamily LT 5
$395.2K
$345.8K – $461.0K
NOI $27,662 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$341.8K
$299.1K – $398.8K
NOI $23,927 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$543.1K
$475.2K – $633.6K
NOI $38,016 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,433
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 - Four two-bedroom apartments are fully occupied, with private outdoor space for each unit based on its floor level.
Where is this quadplex located?
The property is located at 3603 Bastrop Street Houston, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; All units renovated in 2021; Each unit has two heating and cooling window units
