Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Andrews Multifamily Investment Opportunity Title is generated by Realmo AI

    406 SE 6th St, Andrews, TX 79714

    View on Map
    Claim this Listing
    For Sale
    $329,500

    MULTI_FAMILY - Andrews, TX

    Property size:
    3,552 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $92/SF
    Added:
    Apr 10, 2026
    Days on Market:
    35
    Last Refresh:
    May 14 at 8:06 pm

    Property Features for 406 SE 6th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    1
    Rooms
    Bedroom 5, Bathroom 1, Bedroom 8, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 7, Bedroom 6
    Fireplace
    1
    Appliances
    Built-in Cooktop-Elec, Individual Water Heaters
    Standard status
    Active
    APN
    00400015000000
    Size
    3,552 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3414

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1982
    Floors in Building
    2
    Building materials
    Stucco
    Roof type
    Composition

    We can help!

    Listing Contact
    Ashley Pierson

    Listing agent Ashley Pierson

    Listing office Home Team Real Estate 1518 N Texas, Odessa, TX

    Listing date Apr 10, 2026

    MLS# 165585 Listing URL

    Copyright © 2026 Odessa Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 100% occupied investment property
    • Enjoy cozy evenings with wood burning fireplaces
    • Washer/dryer connections for added convenience
    • Central air conditioning ensures year‑round comfort
    • Built‑in electric cooktop
    • Stucco construction

    Overview

    This multifamily property, located in Andrews, Texas, presents an investment opportunity. The property comprises 3,552 square feet and is situated on a 0.2642-acre lot. The units are 100% occupied and feature wood-burning fireplaces and washer/dryer connections. Select units are equipped with dishwashers. The property is located at 406 SE 6th St unit: A-D, Andrews, TX 79714.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Andrews
    County
    Andrews
    State
    Texas
    Longitude
    -102.539517
    Latitude
    32.316115

    Nearby Similar for Sale

    • $999,999
      8,900 SF

      Industrial Facility on Three Acres

      8,900 SF industrial facility with office and shop space.
      1207 NW Mustang Dr, Andrews, TX 79714
      View Details
    • $350,000
      3,485 SF

      Spacious Commercial Property, Andrews, TX

      Spacious commercial property with potential in a desirable location.
      510 E Broadway St, Andrews, TX 79714
      View Details
    • $725,000
      8,826 SF

      Versatile Building Near Main Street

      Adaptable commercial building suitable for retail, restaurant, or office use.
      1213 NW 1st Place, Andrews, TX 79714
      View Details
    • $610,000
      4,423 SF

      Andrews, TX Caliche Yard Property

      Conveniently located property with truck access, shop, and caliche yard.
      501 SE Mustang Dr, Andrews, TX 79714
      View Details
    • $400,000
      4,000 SF

      Versatile Shop in High-Traffic Area

      4-bay shop suitable for automotive, industrial, or service businesses.
      1507 SW Mustang Dr, Andrews, TX 79714
      View Details
    • $1,625,000
      15,200 SF

      Andrews Commercial Property on 2.29 Acres

      15,200 SF commercial space on 2.29 acres for sale.
      1591 S US Hwy 385, Andrews, TX 79714
      View Details
    • $250,000
      1,200 SF

      Turn-Key Pet Business Opportunity

      Profitable pet business with building and operation seamlessly integrated.
      844 SW 201, Andrews, TX 79714
      View Details
    • $325,000
      6,401 SF

      Office Building in Andrews, Texas

      Spacious office building with conference room and parking.
      906-908 S Main St, Andrews, TX 79714
      View Details
    • $1,200,000
      8,440 SF

      Updated Offices and Large Shop

      Updated offices, large shop, and storage on 2.5 acres.
      2116 NE 151, Andrews, TX 79714
      View Details
    • $1,750,000
      25,500 SF

      Andrews Industrial Facility For Sale

      25,500 SF industrial facility on 1.93 acres in Andrews, TX.
      409 NW Mustang Dr, Andrews, TX 79714
      View Details
    • $329,500
      3,552 SF

      Multifamily Property in Andrews, Texas

      Multifamily property featuring fireplaces and washer/dryer connections.
      404 SE 6th St, Andrews, TX 79714
      View Details
    • $225,000
      4,415 SF

      Andrews Commercial Property on Highway

      Commercial property on a corner lot with office and shop.
      1910 S US Hwy 385, Andrews, TX 79714
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Fully occupied multifamily property in Andrews, Texas.
    Where is this multifamily property located?
    The property is located at 406 SE 6th St Andrews, TX.
    What is the asking price?
    The asking price for this property is $329,500.
    What are key features of this property?
    This property features: 100% occupied investment property; Enjoy cozy evenings with wood burning fireplaces; Washer/dryer connections for added convenience
    (432) 209-8453
    We can help!
    Listing Contact
    Ashley Pierson
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    406 SE 6th St, Andrews, TX 79714
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!