Triplex With Garage
For Sale
$700,000
Pending
4505/4507 Larch Lane, Bellaire, TX 77401
Three-unit residential property with hardwood floors, updated kitchens, and a fenced rear yard in Bellaire.
Property Size2,624 SF
Days on Market11
Property Features for 4505/4507 Larch Lane
General Information
Standard status
Pending
Size
2,624 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/2BA, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,157
Amenities
fenced backyard
Building Details
Building Size
2,624 SF
Year Built
1945
Listing Agency:
Keller Williams Memorial
(281) 650-4658
Listed By:
Joseph Ray Diosana · License #0522138
(281) 650-4658
Source:
Greenwoodking
Added: Aug 14
Changed: Aug 24
Last Checked: Aug 23 at 7:55AM
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 Keller Williams Memorial
Investment Insights
Based on property information with market context.
Built in 1945, this Bellaire triplex combines a two-level main residence with a separate garage apartment. The primary structure contains one unit upstairs and one downstairs, each with 2 bedrooms, 2 full baths, generous living space, original hardwood flooring, and a modern kitchen. The additional apartment provides 1 bedroom and expands the property’s three-unit configuration.
A fenced backyard and mature trees contribute to the exterior setting. The property is located at 4505/4507 Larch Ln and offers access to I-69 and 610. Tenants are in place, and showings should be coordinated without disturbing occupants.
A fenced backyard and mature trees contribute to the exterior setting. The property is located at 4505/4507 Larch Ln and offers access to I-69 and 610. Tenants are in place, and showings should be coordinated without disturbing occupants.
Key Highlights
- Three‑unit configuration with a duplex main structure and separate garage apartment
- Each main‑level unit includes 2 bedrooms and 2 full baths
- Additional garage apartment includes 1 bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,051
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,020
$401.0K
Cap Rate 7%
$286,443
$286.4K
Cap Rate 9%
$222,789
$222.8K
Market Conditions
NOI Build-Up for 2,624 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.5K $12.00/SF
− Vacancy
−$2.8K −$1.08/SF
EGI
$28.6K $10.92/SF
− OpEx
−$8.6K −$3.27/SF
NOI
$20.1K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,020
Cap Rate 7%
$286,443
Cap Rate 9%
$222,789
Alternative Uses
Best Use
Multifamily LT 5
$286.4K
$250.6K – $334.2K
NOI $20,051 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$248.5K
$217.5K – $290.0K
NOI $17,397 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$716.5K
$626.9K – $835.9K
NOI $50,154 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,009
Businesses Nearby
Explore this area
Business Placement
Demographics for 77401, TX
17,219
Population
6,699
Households
2.6
Avg Household Size
43
Median Age
82%
College-Educated
99%
High-School Grad
3.6 sq mi
ZIP Area
4,783
Density / Sq Mi
$236,037
Median Household Income
$105,572
Median Earnings
$2,705
Median Rent
$977,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with hardwood floors, updated kitchens, and a fenced rear yard in Bellaire.
Where is this triplex located?
The property is located at 4505/4507 Larch Lane Bellaire, TX.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Three‑unit configuration with a duplex main structure and separate garage apartment; Each main‑level unit includes 2 bedrooms and 2 full baths; Additional garage apartment includes 1 bedroom
