Renovated Triplex Near
For Sale
$850,000
4723 Merwin Street, Houston, TX 77027
Two-story triplex near Galleria with renovated units and parking.
Property Size4,204 SF
Price / SF$202.19
Days on Market255
Property Features for 4723 Merwin Street
General Information
Standard status
Active
Size
4,204 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Greenway / Upper Kirby Area
Taxes and HOA fees
Annual Taxes
$11,349
Amenities
Yes
5
6
Appraiser
6760
4204
Building Details
Building Size
4,204 SF
Year Built
1955
Stories
2
Listing Agency:
TopWater Real Estate LLC
(281) 486-1900
Listed By:
Elizabeth Cruz
(832) 873-2022
Source:
Garygreene
Added: Feb 12
Changed: Oct 25
Last Checked: Oct 24 at 3:11PM
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 TopWater Real Estate LLC
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Investment Insights
Based on property information with market context.
This two-story triplex features two townhome-style units, each with 2 bedrooms and 2.5 bathrooms, and a third upper-level unit with 2 bedrooms and 1.5 bathrooms. One of the units has been completely renovated. The property is situated near the Galleria, dining, retail, and museums, with convenient access to Highway 610 and 59. A 20-foot sound barrier wall is located along the south side. The units feature open-concept living and kitchen areas, two primary bedrooms per unit, and large private gated patios. On-site laundry facilities are available. The property includes off-street parking for 7 vehicles, including a 4-car garage. The property is suitable for commercial and residential use. The location has a walk score of 77, indicating it is very walkable, a transit score of 54, indicating good transit options, and a bike score of 45, indicating it is somewhat bikeable. The property is surrounded by luxury homes.
Key Highlights
- Prime location near Galleria, dining, retail, and museums with quick access to Hwy 610 and 59.
- Triplex featuring two 2‑bedroom, 2.5‑bath townhome units and one 2‑bedroom, 1.5‑bath unit.
- Completely renovated first unit.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,063
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,260
$1.1M
Cap Rate 7%
$786,614
$786.6K
Cap Rate 9%
$611,811
$611.8K
Market Conditions
NOI Build-Up for 4,204 SF
Gross rent
$83.2K $19.80/SF
− Vacancy
−$4.6K −$1.09/SF
EGI
$78.7K $18.71/SF
− OpEx
−$23.6K −$5.61/SF
NOI
$55.1K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,260
Cap Rate 7%
$786,614
Cap Rate 9%
$611,811
Alternative Uses
Best Use
Multifamily LT 5
$786.6K
$688.3K – $917.7K
NOI $55,063 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$680.4K
$595.4K – $793.8K
NOI $47,628 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$1.08M
$945.9K – $1.26M
NOI $75,672 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,293
Businesses Nearby
Explore this area
Business Placement
Demographics for 77027, TX
18,987
Population
13,286
Households
1.4
Avg Household Size
37
Median Age
74%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
7,032
Density / Sq Mi
$102,861
Median Household Income
$77,999
Median Earnings
$1,840
Median Rent
$881,700
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?
Triplex - Two-story triplex near Galleria with renovated units and parking.
Where is this triplex located?
The property is located at 4723 Merwin Street Houston, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime location near Galleria, dining, retail, and museums with quick access to Hwy 610 and 59.; Triplex featuring two 2‑bedroom, 2.5‑bath townhome units and one 2‑bedroom, 1.5‑bath unit.; Completely renovated first unit.
