15-Unit Multifamily Investment
3804 Mt Pleasant St Houston, TX 77021
3804 Mt Pleasant St, Houston, TX, 77021
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For Sale
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15-unit apartment complex in South Union area with upside potential.
Property Size9,358 SF
Price / SF$128.22
Days on Market243
Property Features for 3804 Mt Pleasant St
General Information
- Standard status
- Active
- Size
- 9,358 SF
- Property subtype
- Multifamily
Listing Agency
AssetlyOne
Listed by
Wesson Assefa · License #506165
Source
Crexi
Added: Nov 17, 2025 Checked: Jul 17 at 7:12 am
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 AssetlyOne
Investment Insights
Based on property information with market context.
This property features a 15-unit apartment complex located in the South Union area. The unit mix includes 4 one-bedroom units and 11 two-bedroom units. The property has a total size of 9358 square feet. Currently, the property is 66 percent occupied, presenting an opportunity for investors to increase occupancy and stabilize income. The property is being sold in as-is condition.
Key Highlights
- 15‑unit apartment complex offers significant investment potential.
- Located in the growing South Union area.
- Mix of one and two‑bedroom units caters to a broad tenant base.
Local 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 | $205.5k | $21.96 |
| − Vacancy | −$12.7k | −$1.36 |
| EGI | $192.8k | $20.60 |
| − OpEx | −$86.7k | −$9.27 |
| NOI | $106.0k | $11.33 |
9,358 SF · lease $21.96/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.33M – $1.77M
NOI $106,018 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,444 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 15-unit apartment complex in South Union area with upside potential.
Where is this apartment building located?
The property is located at 3804 Mt Pleasant St Houston, TX.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: 15‑unit apartment complex offers significant investment potential.; Located in the growing South Union area.; Mix of one and two‑bedroom units caters to a broad tenant base.
