Renovated Multifamily Asset Near
For Sale
$1,200,000
4831 Sycamore Ave Unit 16, Pasadena, TX 77503
17-unit renovated multifamily property with growth potential near Houston.
Property Size9,470 SF
Price / SF$126.72
Days on Market217
Property Features for 4831 Sycamore Ave Unit 16
General Information
Standard status
Active
Size
9,470 SF
Property subtype
Multi-Family
Building Details
Year Built
1963
Listing Agency:
eXp Realty LLC
Listed By:
Sheila Montilla Sequera
(361) 648-7925
Source:
Doorstephomegroup
Added: Mar 12
Changed: Sep 18
Last Checked: Sep 29 at 2:46PM
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
Investment Insights
Based on property information with market context.
Sycamore Flats is a 17-unit multifamily asset constructed in 1963 that underwent extensive renovations in 2022-23. Located 20 miles southeast of downtown Houston, the property provides access to major employment centers, highways, and airports. The recent renovations have modernized Sycamore Flats, featuring updated interiors, a durable metal roof, and minimal deferred maintenance. This turnkey investment offers immediate growth potential, allowing investors to capitalize on a 5-year hold by maximizing rents and addressing loss to lease.
Key Highlights
- 17‑unit multifamily asset.
- Recent extensive renovation in 2022‑23 creating modern, desirable living spaces.
- Turnkey investment with virtually no deferred maintenance.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,941
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,938,820
$1.9M
Cap Rate 7%
$1,384,871
$1.4M
Cap Rate 9%
$1,077,122
$1.1M
Market Conditions
NOI Build-Up for 9,470 SF
Gross rent
$187.5K $19.80/SF
− Vacancy
−$11.3K −$1.19/SF
EGI
$176.3K $18.61/SF
− OpEx
−$79.3K −$8.38/SF
NOI
$96.9K $10.24/SF
Area
Pasadena, TX
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,938,820
Cap Rate 7%
$1,384,871
Cap Rate 9%
$1,077,122
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.62M
NOI $96,941 @ 7.0% cap · market cap 8.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.13M
$2.73M – $3.65M
NOI $218,766 @ 7.0% cap · market cap 18.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
Explore this area
Business Placement
Demographics for 77503, TX
24,956
Population
8,980
Households
2.8
Avg Household Size
33
Median Age
10%
College-Educated
70%
High-School Grad
6.3 sq mi
ZIP Area
3,961
Density / Sq Mi
$64,977
Median Household Income
$37,015
Median Earnings
$1,211
Median Rent
$165,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 17-unit renovated multifamily property with growth potential near Houston.
Where is this apartment building located?
The property is located at 4831 Sycamore Ave Unit 16 Pasadena, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 17‑unit multifamily asset.; Recent extensive renovation in 2022‑23 creating modern, desirable living spaces.; Turnkey investment with virtually no deferred maintenance.
