Five-Unit Apartment
For Sale
$479,000
4720 Polk Street, Houston, TX 77023
Four one-bedroom residences accompany a two-bedroom garage apartment with separate gas and electric metering.
Property Size3,628 SF
Price / SF$132.03
Days on Market51
Property Features for 4720 Polk Street
General Information
Standard status
Active
Size
3,628 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Greater Eastwood
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR, 1 x 2BR garage apartment
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$5,848
Amenities
Tile,Vinyl,Wood
Yes
1
2
Appraiser
Laminate Counters,Tile Counters
5000
One
Paved
3628
Building Details
Building Size
3,628 SF
Year Built
1952
Stories
2
Listing Agency:
Coldwell Banker Properties
(281) 486-1900
Listed By:
Jessika Paquinto
(281) 685-1938
Source:
Garygreene
Added: Sep 5
Changed: Oct 25
Last Checked: Oct 24 at 2:09PM
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 Coldwell Banker Properties
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Investment Insights
Based on property information with market context.
This apartment property at 4720 Polk Street includes five residential units: four one-bedroom apartments and a two-bedroom garage apartment. The building dates to 1952 and features tile, vinyl, and wood finishes. Each unit has its own gas and electric meter, while water service is handled through one master meter.
The property is in the Eastwood subdivision, with access to downtown, the University of Houston, and the Gulf Freeway. A paved exterior area is included. Tenant access is controlled, and showings require a signed contract. Rent roll, survey, and income statement are available upon request.
The property is in the Eastwood subdivision, with access to downtown, the University of Houston, and the Gulf Freeway. A paved exterior area is included. Tenant access is controlled, and showings require a signed contract. Rent roll, survey, and income statement are available upon request.
Key Highlights
- Five‑unit property with four one‑bedroom apartments and one two‑bedroom garage apartment
- Separate gas and electric meters for each unit
- Water service operates through one master meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,102
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$822,040
$822.0K
Cap Rate 7%
$587,171
$587.2K
Cap Rate 9%
$456,689
$456.7K
Market Conditions
NOI Build-Up for 3,628 SF
Gross rent
$79.7K $21.96/SF
− Vacancy
−$4.9K −$1.36/SF
EGI
$74.7K $20.60/SF
− OpEx
−$33.6K −$9.27/SF
NOI
$41.1K $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%
$822,040
Cap Rate 7%
$587,171
Cap Rate 9%
$456,689
Alternative Uses
Best Use
Apartment 5plus
$587.2K
$513.8K – $685.0K
NOI $41,102 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$932.9K
$816.3K – $1.09M
NOI $65,304 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
5
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Four one-bedroom residences accompany a two-bedroom garage apartment with separate gas and electric metering.
Where is this apartment building located?
The property is located at 4720 Polk Street Houston, TX.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Five‑unit property with four one‑bedroom apartments and one two‑bedroom garage apartment; Separate gas and electric meters for each unit; Water service operates through one master meter
