10-Unit Apartment
4403 Nichols Street, Houston, TX 77020
For Sale
$1,800,000
Every residence is occupied and offers a consistent two-bedroom, two-bathroom configuration.
Property Size9,022 SF
Days on Market18
Property Features for 4403 Nichols Street
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Listing Agency:
Nextgen Real Estate Properties
Listed By:
Andrea Tran · License TX #599737
(713) 566-1991
Source:
Mpowerrealtygroup
Added: Oct 26
Changed: Nov 8
Last Checked: Nov 10 at 5:53PM
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 Nextgen Real Estate Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2023, this Houston apartment property contains 10 residences with matching two-bedroom, two-bathroom layouts. Each home measures approximately 915 square feet. The building is fully occupied, with all 10 units currently leased.
The property is near Downtown Houston and has access to major highways. Employment centers, dining, shopping, and surrounding neighborhoods are also identified in the area.
The property is near Downtown Houston and has access to major highways. Employment centers, dining, shopping, and surrounding neighborhoods are also identified in the area.
Key Highlights
- 10 apartment units, all currently occupied
- Each residence has 2 bedrooms, 2 bathrooms, and approximately 915 square feet
- Built in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,212
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,044,240
$2.0M
Cap Rate 7%
$1,460,171
$1.5M
Cap Rate 9%
$1,135,689
$1.1M
Market Conditions
NOI Build-Up for 9,022 SF
Gross rent
$198.1K $21.96/SF
− Vacancy
−$12.3K −$1.36/SF
EGI
$185.8K $20.60/SF
− OpEx
−$83.6K −$9.27/SF
NOI
$102.2K $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%
$2,044,240
Cap Rate 7%
$1,460,171
Cap Rate 9%
$1,135,689
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,212 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,396 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 77020, TX
24,846
Population
10,054
Households
2.5
Avg Household Size
35
Median Age
13%
College-Educated
65%
High-School Grad
7.8 sq mi
ZIP Area
3,185
Density / Sq Mi
$49,481
Median Household Income
$32,573
Median Earnings
$942
Median Rent
$133,600
Median Home Value
Market
Properties on Market for Apartment buildings in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Every residence is occupied and offers a consistent two-bedroom, two-bathroom configuration.
Where is this apartment building located?
The property is located at 4403 Nichols Street Houston, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 10 apartment units, all currently occupied; Each residence has 2 bedrooms, 2 bathrooms, and approximately 915 square feet; Built in 2023
