Six-Unit Apartment
For Sale
$749,000
4207 Drake St, Houston, TX 77005
Brick apartment property with a shared courtyard, updated finishes, and varied unit layouts including a studio.
Property Size4,208 SF
Price / SF$177.99
Days on Market51
Property Features for 4207 Drake St
General Information
Standard status
Active
Size
4,208 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
College Court
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA, 2 x 1BR/1BA, 1 x studio
Multifamily Units
6
Amenities
skylights
built-in storage
extended vanities
in-unit laundry
shared courtyard
Building Details
Year Built
1966
Construction
brick
Listing Agency:
eXp Realty LLC
Listed By:
Shawn Manderscheid · License #0463952
(281) 773-0195
Source:
Nova-era
Added: Sep 4
Changed: Oct 8
Last Checked: Oct 7 at 1:01PM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This 1966 apartment property contains six units with a mix of 3 two-bedroom/one-bath residences, 2 one-bedroom/one-bath residences, and 1 studio with a full kitchen and bath. Interiors feature neutral updated finishes along with practical kitchens and bathrooms. Certain units include skylights, built-in storage, extended vanities, or in-unit laundry.
The building is constructed of brick and includes mature trees and a shared courtyard. Its location is just blocks from Loop 610 and US-59/69, with access to the Galleria, Texas Medical Center, Rice University, Downtown Houston, dining, shopping, and public transportation.
The building is constructed of brick and includes mature trees and a shared courtyard. Its location is just blocks from Loop 610 and US-59/69, with access to the Galleria, Texas Medical Center, Rice University, Downtown Houston, dining, shopping, and public transportation.
Key Highlights
- Six‑unit apartment property built in 1966
- Unit mix includes 3 2‑bedroom/1‑bath units, 2 1‑bedroom/1‑bath units, and 1 studio
- Studio includes a full kitchen and bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,673
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$953,460
$953.5K
Cap Rate 7%
$681,043
$681.0K
Cap Rate 9%
$529,700
$529.7K
Market Conditions
NOI Build-Up for 4,208 SF
Gross rent
$92.4K $21.96/SF
− Vacancy
−$5.7K −$1.36/SF
EGI
$86.7K $20.60/SF
− OpEx
−$39.0K −$9.27/SF
NOI
$47.7K $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%
$953,460
Cap Rate 7%
$681,043
Cap Rate 9%
$529,700
Alternative Uses
Best Use
Apartment 5plus
$681.0K
$595.9K – $794.6K
NOI $47,673 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$946.8K – $1.26M
NOI $75,744 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,499
Businesses Nearby
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Business Placement
Demographics for 77005, TX
28,241
Population
10,564
Households
2.7
Avg Household Size
36
Median Age
88%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
7,432
Density / Sq Mi
$215,708
Median Household Income
$100,839
Median Earnings
$2,058
Median Rent
$1,354,300
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?
Apartment building - Brick apartment property with a shared courtyard, updated finishes, and varied unit layouts including a studio.
Where is this apartment building located?
The property is located at 4207 Drake St Houston, TX.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Six‑unit apartment property built in 1966; Unit mix includes 3 2‑bedroom/1‑bath units, 2 1‑bedroom/1‑bath units, and 1 studio; Studio includes a full kitchen and bath
