Fully Remodeled 21-Unit Detached
For Sale
Contact for pricing
3805-3813 Wipprecht St., Houston, TX 77026
Gated community of detached two-bedroom rentals with separate meters, washer/dryer connections, and dedicated parking.
Property Size15,880 SF
Lot Size1.03 Acres
Price / SF$138.54
Days on Market126
Property Features for 3805-3813 Wipprecht St.
General Information
Standard status
Active
Size
15,880 SF
Class
C
Lot size
1.03 Acres
Property subtype
Multifamily
Zoning
Multifamily
Occupancy
100%
Investment Type
Institutional
Net Operating Income
$174,020
Financials
Cap Rate
8%
Business Included
Yes
Additional Details
Highway Access
Yes
Multifamily Units
21
Building Details
Year Built
1960
Year Renovated
2023
Buildings
21
Units
21
Tenancy
Multi
Listing Agency:
Sanmore Investments
Listed By:
Federico Medina · License #TX 796355
Source:
Crexi
Added: Jun 4
Changed: Oct 7
Last Checked: Oct 5 at 3:18PM
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 Sanmore Investments
Investment Insights
Based on property information with market context.
Wipprecht Village Homes is a fully remodeled multifamily investment property featuring 21 detached 2BR/1BA rental homes. Originally built in 1960 and fully remodeled in 2022–2023, the community consists of homes averaging approximately 758 SF each within an overall building area of approximately 15,880 SF. Each unit is set up with separate electric and water meters, washer/dryer connections, and newly installed roofs, along with updated electrical, plumbing, and mechanical systems. The community is gated and provides dedicated parking for residents.
The property is located in Houston with convenient access to I-610 and US-59/I-69, placing it minutes from Downtown Houston. It is also described as being near Hardy Yards and the East River development corridor, supporting practical access to area destinations.
As an income-producing asset, the property is 100% occupied. The detached-home configuration, gated setting, and dedicated parking can be a strong fit for operators seeking straightforward resident experience within a fully renovated housing package. Separate utility metering and in-unit washer/dryer connections may also help support day-to-day operating simplicity compared with shared systems.
The property is located in Houston with convenient access to I-610 and US-59/I-69, placing it minutes from Downtown Houston. It is also described as being near Hardy Yards and the East River development corridor, supporting practical access to area destinations.
As an income-producing asset, the property is 100% occupied. The detached-home configuration, gated setting, and dedicated parking can be a strong fit for operators seeking straightforward resident experience within a fully renovated housing package. Separate utility metering and in-unit washer/dryer connections may also help support day-to-day operating simplicity compared with shared systems.
Key Highlights
- Fully remodeled multifamily property with 21 detached 2BR/1BA rental homes (built 1960).
- Approximately 15,880 SF total building area on approximately 1.03 acres.
- Each unit has approximately 758 SF and includes separate electric and water meters.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$179,907
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,598,140
$3.6M
Cap Rate 7%
$2,570,100
$2.6M
Cap Rate 9%
$1,998,967
$2.0M
Market Conditions
NOI Build-Up for 15,880 SF
Gross rent
$348.7K $21.96/SF
− Vacancy
−$21.6K −$1.36/SF
EGI
$327.1K $20.60/SF
− OpEx
−$147.2K −$9.27/SF
NOI
$179.9K $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%
$3,598,140
Cap Rate 7%
$2,570,100
Cap Rate 9%
$1,998,967
Alternative Uses
Best Use
Apartment 5plus
$2.57M
$2.25M – $3.00M
NOI $179,907 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,840 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
21
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
Explore this area
Business Placement
Demographics for 77026, TX
23,405
Population
9,580
Households
2.4
Avg Household Size
36
Median Age
9%
College-Educated
70%
High-School Grad
6.6 sq mi
ZIP Area
3,546
Density / Sq Mi
$34,835
Median Household Income
$29,339
Median Earnings
$962
Median Rent
$104,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Gated community of detached two-bedroom rentals with separate meters, washer/dryer connections, and dedicated parking.
Where is this apartment building located?
The property is located at 3805-3813 Wipprecht St. Houston, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Fully remodeled multifamily property with 21 detached 2BR/1BA rental homes (built 1960).; Approximately 15,880 SF total building area on approximately 1.03 acres.; Each unit has approximately 758 SF and includes separate electric and water meters.
