Three-Unit Multifamily Property Near
For Sale
$349,999
3821 Wipprecht Street, Houston, TX 77026
Three rental units in excellent condition near downtown Houston.
Property Size1,502 SF
Price / SF$233.02
Days on Market195
Property Features for 3821 Wipprecht Street
General Information
Standard status
Active
Size
1,502 SF
Property subtype
Residential Income
Lease Term
Month To Month
Site & Location
Neighborhood
Kashmere Gardens
Amenities
Electric
Natural Gas
Building Details
Building Size
1,502 SF
Year Built
1950
Stories
1
Listing Agency:
La Palma Realty
Listed By:
Christina Tantoco
(713) 701-7545
Source:
Evrealestate
Added: Apr 15
Changed: Oct 19
Last Checked: Oct 24 at 4:59PM
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 La Palma Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property is located near downtown Houston and major highways. It contains three rental units in excellent condition. Unit A features 3 bedrooms and 2 bathrooms. Units B and C each offer 2 bedrooms and 1 bathroom. All three units (A, B, and C) are currently rented, presenting an opportunity for investors.
Key Highlights
- Three rental units in excellent condition, providing immediate income.
- Main unit (A) features 3 bedrooms and 2 bathrooms.
- Two additional rear units (B & C) each have 2 bedrooms and 1 bathroom.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,673
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$393,460
$393.5K
Cap Rate 7%
$281,043
$281.0K
Cap Rate 9%
$218,589
$218.6K
Market Conditions
NOI Build-Up for 1,502 SF
Gross rent
$29.7K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$28.1K $18.71/SF
− OpEx
−$8.4K −$5.61/SF
NOI
$19.7K $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%
$393,460
Cap Rate 7%
$281,043
Cap Rate 9%
$218,589
Alternative Uses
Best Use
Multifamily LT 5
$281.0K
$245.9K – $327.9K
NOI $19,673 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$243.1K
$212.7K – $283.6K
NOI $17,016 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$386.2K
$338.0K – $450.6K
NOI $27,036 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
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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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?
Triplex - Three rental units in excellent condition near downtown Houston.
Where is this triplex located?
The property is located at 3821 Wipprecht Street Houston, TX.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: Three rental units in excellent condition, providing immediate income.; Main unit (A) features **3 bedrooms and 2 bathrooms.**; Two additional rear units (B & C) each have 2 bedrooms and 1 bathroom.
